Lake County Real Estate and Livability Trends
Lake County, Indiana, is seeing a sizable boost in average taxable incomes from $51,235.63 in 2013 to $68,106.94 in 2021, hinting at a potentially thriving local economy and attractive real estate market. Median home values have surged from $136,100 in 2015 to $195,100 in 2022, indicating strong property market activity. Taxes have also increased, with average state and local income taxes per... Read more
Lake County Market Trends
Lake County, Indiana has experienced a noteworthy surge in median home values, jumping from $136,100 in 2015 to $195,100 in 2022, surpassing both state and national averages. This spike may hint at increasing economic activity or attractiveness in the area. On the eco-front, there's been a spike in the average residential energy tax credit per tax return, peaking in 2018 around $1868.25,... Read more
Median Value of Occupied Housing Units in Lake County, Indiana Over the Last 8 Years
Lake County, Indiana has seen a substantial increase in median home values over the past eight years, jumping from $136,100 in 2015 to $195,100 in 2022. This surge outpaces both the state average for Indiana, which rose from $124,200 to $183,600, and the national average, which climbed from $125,500 to $179,400 during the same period. For potential investors or homebuyers, these figures might suggest growing appeal or economic activity in Lake County relative to broader trends in Indiana and the United States.
Residential Energy Tax Credit Per Tax Return in Lake County, IN Over the Last 9 Years
Over the past nine years in Lake County, Indiana, the average residential energy tax credit per tax return has shown notable fluctuation. From a relatively stable range around $266.00 in 2013 and 2014, there was a notable increase beginning in 2015, peaking significantly in 2018 at approximately $1868.25. Although the credit dropped in subsequent years, it remains considerably higher than at the start of the period, with 2021's average at around $968.57. This indicates increased uptake or enhanced incentives for energy-efficient home improvements, which could interest real estate stakeholders and potential homeowners focused on sustainability.
Average Real Estate Taxes Per Tax Return in Lake County, IN Over the Last 10 Years
Over the past decade, Lake County, Indiana has seen a notable rise in real estate taxes per tax return, with figures climbing from approximately $2,742.29 in 2012 to roughly $4,196.69 in 2021. This increase, particularly sharp between 2017 and 2019, could imply growing property values or possible changes in tax rates. Investors and property developers might find this useful to gauge the tax implications on their returns, while insurance agents and appraisers can correlate these trends with risk assessments and property valuations. For those considering moving to the area, understanding this upward trend in real estate taxes could be a crucial factor in budget planning.
Percentage of Farm Returns in Lake County, IN Over the Last 10 Years
Lake County, Indiana has seen a gradual decline in the percentage of farm tax returns over the past decade, starting at around 0.18% in 2012 and dipping to roughly 0.14% by 2021. Farm tax returns, often filed by agricultural businesses, reflect the economic vitality and land use trends within rural areas, indicating a modest but noticeable reduction in farming activities. For potential investors, builders, or residents, this trend might suggest shifting economic dynamics, possibly favoring urban developments or non-agricultural investments in Lake County.
Number of Mortgages by Occupancy Type in Lake County, IN Over the Last 5 Years in Lake County
In Lake County, Indiana, over the past five years, the dominant type of mortgage has consistently been for principal residences, peaking at over 35,000 in 2021 but showing a sharp decline to around 22,000 in 2022. Investment property mortgages also saw a notable rise in 2021 followed by a drop in 2022, while the number of second residence mortgages has remained relatively low and stable. These shifts could impact various stakeholders significantly. For investors, the decrease in investment property mortgages may signal either a cooling market or stricter lending policies. For those considering moving to the area, the substantial dip in principal residence mortgages in 2022 may suggest changing economic conditions or affordability issues. Real estate agents and appraisers might find fluctuating demand patterns hinting at broader market dynamics. Similarly, builders and insurance agents could use this data to forecast housing needs and insurance risks.
Economic Outlook
Lake County, Indiana, has experienced a significant increase in average taxable income per tax return from $51,235.63 in 2013 to $68,106.94 in 2021, possibly indicating a healthier local economy and an attractive environment for property investment. Alongside this, average state and local income taxes per tax return have also risen dramatically, from $4,501.54 in 2013 to $10,303.24 in 2021, which could impact disposable incomes and the costs of living or doing business. Additionally, the... Read more
Average Taxable Income per Tax Return in Lake County, IN over the last 9 years
Lake County, Indiana, has seen a steady increase in average taxable income per tax return over the past nine years, rising from approximately $51,235.63 in 2013 to around $68,106.94 in 2021. This upward trend potentially indicates a healthier local economy, making it an appealing destination for property investment and relocation. The increase in average income can also signal improved job opportunities and wage growth in the area, which may attract new residents and businesses. For existing homeowners, this rise could translate to increasing property values, offering a significant return on investment.
Average State and Local Income Taxes Per Tax Return in Lake County, IN Over the Last 10 Years
Lake County, Indiana has seen a steady uptick in average state and local income taxes per tax return over the last decade. Noteworthy is the substantial increase from $4,501.54 in 2013 to $10,303.24 in 2021, highlighting a significant rise in tax burdens. This trend is critical for prospective investors and residents, as escalating taxes could impact disposable incomes and overall operating costs. Buyers and developers should particularly note this when planning long-term investments or relocations to the area.
Average Total Tax Liability Per Tax Return in Lake County, IN Over the Last 10 Years
Lake County, Indiana, has seen a notable trend in rising average total tax liability per tax return over the past decade, peaking at $10,841.87 in 2021 from $7,982.55 in 2012. This steady increase, particularly the sharp hike in 2021, suggests a growing economic base or changing tax policies that could impact residents and potential investors. Such trends might influence decisions for those considering property investments or relocations to the area, reflecting potentially higher earning brackets and a potentially dynamic local economy.
Cost of Living in Lake County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,215 | $1,484 | $1,724 | $1,674 | $1,225 |
| 1 adult 4 children | $1,215 | $1,212 | $1,325 | $1,674 | $1,328 |
| 2 adults 3 children | $1,215 | $1,212 | $1,492 | $1,674 | $1,021 |
| 1 adult 3 children | $1,215 | $990 | $1,094 | $1,674 | $1,100 |
| 2 adults 2 children | $990 | $992 | $1,260 | $1,473 | $892 |
| 1 adult 2 children | $990 | $741 | $862 | $1,473 | $861 |
| 2 adults 1 child | $990 | $784 | $1,029 | $821 | $811 |
| 1 adult 1 child | $990 | $507 | $630 | $821 | $672 |
| 2 adults | $807 | $630 | $797 | $0 | $623 |
| 1 adult | $670 | $344 | $399 | $0 | $495 |
Safety trends & Data
Lake County, Indiana, has potentially seen notable declines in property crimes over the last five years. Larceny-theft incidents dropped from 1,452.00 in 2018 to 524.00 in 2022, and burglaries went down from 183.00 to 55.00 over the same period. While arson and motor vehicle theft figures also showed a decreasing trend, fraud and forgery experienced more moderate fluctuations. This data could be a key consideration for investors, real estate agents, and appraisers when evaluating property... Read more
Property Crime Trends in Lake County, IN Over the Last 5 Years
Over the last five years in Lake County, Indiana, there's been a notable decline in property crimes such as burglary and larceny-theft, with arson and motor vehicle thefts also showing a downward trend. The figures show a significant decrease in larceny-theft from 1,452.00 cases in 2018 to 524.00 in 2022, and burglaries dropping from 183.00 to 55.00 during the same period. On the flip side, fraud and forgery have seen more moderate fluctuations, making it essential for investors, real estate agents, and appraisers to consider these trends when evaluating property values and insurance rates.
Demographics
Lake County, Indiana, shows a slight gender disparity with a marginally higher female population. Educational attainment is diverse, with most residents having at least a high school diploma. However, a notable portion holds only some college education without a degree, hinting at potential unmet educational needs. The age distribution suggests a balanced spread across different age groups, though the number of residents peaks around the 35 to 64 age range. Racial diversity is evident, with a... Read more
Race Distribution in Lake County, Indiana (2022)
Educational Attainment in Lake County, Indiana (2022)
Age Distribution in Lake County, Indiana
Citizen Population in Lake County, Indiana (2022)
Political Trends & Data
Lake County, Indiana, tends to lean Democratic, with Democrats potentially securing about 56.8% of the vote in the 2020 U.S. Presidential Election, compared to Republicans' approximate 41.7%. Minor parties like the Libertarians and Greens barely made a dent in the voter share, suggesting a strong two-party focus. This Democratic inclination could impact local policy decisions and community investments, making it a crucial factor for real estate investors and developers to... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Lake County, Indiana, the 2020 U.S. Presidential Election saw Democrats likely having a strong showing with approximately 56.8% of the vote. Republicans possibly garnered around 41.7%, significantly trailing the Democrats. Smaller parties, such as the Libertarians and Greens, captured just minimal support, with hardly notable percentages. This clearly indicates that Lake County may lean more towards Democratic preferences in presidential elections.
41.72% of voters voted for the Republican party in the 2020 Presidential Election
56.77% of voters voted for the Democrat party in the 2020 Presidential Election
1.46% of voters voted for the Livertarian party in the 2020 Presidential Election
0.03% of voters voted for the Green party in the 2020 Presidential Election
0.02% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lake County, Indiana, has experienced a declining student-to-teacher ratio, dipping from 25 students per teacher in 2014 to approximately 17 in 2023. This trend could suggest an uptick in education quality, a crucial factor for families prioritizing their children's education. The enhanced focus on schooling might not just improve community standards but also potentially inflate property values, making the area more attractive for investors and... Read more
Student-to-teacher ratio in Lake County, Indiana over the last 10 years
Lake County, Indiana, has seen a fluctuating student-to-teacher ratio over the last decade. Starting at 25 students per teacher in 2014, the ratio peaked again close to that number in 2016, but has since trended downward, reaching as low as 16 in 2022 and balancing out to about 17 in 2023. This trend indicates a potential increase in education quality, especially compared to the national average of 14 students per teacher. Investors, families, and real estate agents might find this data pertinent as lower student-to-teacher ratios often reflect positively on the community's commitment to education, potentially boosting property values and desirability for families prioritizing education.
