Lafayette County Real Estate and Livability Trends
Lafayette County, Mississippi is seeing significant economic growth, with average taxable income per tax return jumping from $58,515 in 2013 to roughly $91,648 in 2021. This rising income could be influencing the real estate market, where median home values have surged from $159,200 in 2015 to $242,800 in 2022. Increasing real estate taxes per tax return, climbing from $2,326.98 in 2012 to... Read more
Lafayette County Market Trends
The median home value in Lafayette County, Mississippi jumped from $159,200 in 2015 to $242,800 in 2022, outpacing state and national growth, which may indicate increasing real estate appeal. Average residential energy tax credits per tax return peaked at $935.71 in 2021, hinting at rising investments in energy-efficient upgrades, driven possibly by higher energy costs or green initiatives. Real... Read more
Median Value of Occupied Housing Units in Lafayette County, Mississippi Over the Last 8 Years
The median home value in Lafayette County, Mississippi has seen significant growth over the last eight years, rising from $159,200 in 2015 to $242,800 in 2022. This increase outpaces both the state and national trends, where Mississippi's median home value grew from $103,100 to $151,000, and the national median increased from $125,500 to $179,400 over the same period. These trends suggest that Lafayette County is becoming increasingly attractive for real estate investments compared to broader markets.
Residential Energy Tax Credit Per Tax Return in Lafayette County, MS Over the Last 9 Years
Over the past nine years, Lafayette County, Mississippi, has seen notable fluctuations in the average residential energy tax credit per tax return. While there were dips in the middle years, such as 2014 and 2015 with values around $325.00 and $311.76 respectively, recent years have witnessed significant increases, reaching a peak of $935.71 in 2021. Interestingly, 2018 also showed a substantial spike with an average of $800.00. These trends might indicate increasing homeowner investments in energy-efficient upgrades, potentially driven by rising energy costs or stronger support for green initiatives. This trend could be of interest to potential investors, real estate agents, and property developers looking at the region's future growth in sustainable living.
Average Real Estate Taxes Per Tax Return in Lafayette County, MS Over the Last 10 Years
Lafayette County, Mississippi has witnessed a notable surge in average real estate taxes per tax return over the past decade. Starting at approximately $2,326.98 in 2012, the figure climbed steadily to about $4,745.18 by 2021. This trend indicates a significant increase in local property values and potentially greater demand for properties in the region. For investors, this might suggest a robust property market with appreciating asset values. Real estate agents could see more transactions and higher commissions, while appraisers might find the area increasingly lucrative. Insurers may need to adjust premiums to reflect rising property values, and builders might consider the area more attractive for new developments. Understanding these trends is essential for making informed decisions in Lafayette County's real estate landscape.
Percentage of Farm Returns in Lafayette County, MS Over the Last 10 Years
Farm tax returns in Lafayette County, Mississippi have shown minor fluctuations but an overall slight decline over the past decade. Beginning at approximately 2.62% in 2012, these returns reached around 2.23% by 2021. Farm tax returns provide insights into agricultural viability and economic health, and the observed trend may suggest marginal shifts in farming profitability or changes in the agricultural landscape. Potential investors or residents should consider this data point when evaluating the local economy and land use trends.
Number of Mortgages by Occupancy Type in Lafayette County, MS Over the Last 5 Years in Lafayette County
Over the past five years, Lafayette County, Mississippi has seen fluctuating mortgage numbers across different occupancy types. Principal residences consistently dominate the market, peaking in 2020 with 2977 mortgages and dropping significantly in 2022. Investment property mortgages and second residence mortgages have remained relatively stable but lower in comparison. These trends can signal shifting priorities or economic conditions that affect home buying behaviors. For investors and builders, growing mortgage numbers for principal residences in 2020 might imply a previously strong demand for owner-occupied homes, while appraisers and insurance agents will need to consider the changing market dynamics to accurately value properties. Real estate agents should note the high interest in principal residences and adjust their strategies accordingly.
Economic Outlook
Average taxable income per tax return in Lafayette County, Mississippi has jumped from $58,515 in 2013 to roughly $91,648 in 2021. There were notable spikes from 2015 to 2016 and again from 2020 to 2021, hinting at robust economic growth and increased earnings. Meanwhile, state and local income taxes per tax return climbed from around $6,389.89 in 2012 to about $16,564.67 in 2021, likely reflecting growing incomes or shifts in local tax policies. Average total tax liability also rose, going... Read more
Average Taxable Income per Tax Return in Lafayette County, MS over the last 9 years
Lafayette County, Mississippi has shown a significant upward trend in average taxable income per tax return over the last nine years, leaping from around $58,515 in 2013 to approximately $91,648 in 2021. A noteworthy spike occurred from 2015 to 2016 and from 2020 to 2021, suggesting robust economic growth and possibly increased earnings in the area. This upward trajectory might indicate a thriving economic environment, appealing for potential investors, real estate agents, and those considering relocation to an economically promising locale with rising incomes.
Average State and Local Income Taxes Per Tax Return in Lafayette County, MS Over the Last 10 Years
Over the past decade, state and local income taxes per tax return in Lafayette County, Mississippi have shown a notable upward trend. Starting from around $6,389.89 in 2012, there has been a consistent increase, peaking at approximately $16,564.67 in 2021. This sharp rise could be indicative of growing income levels or changes in local tax policies, reflecting an evolving economic landscape. These dynamics might attract investors and new residents interested in the county’s financial climate and potential for growth.
Average Total Tax Liability Per Tax Return in Lafayette County, MS Over the Last 10 Years
Lafayette County, Mississippi, has experienced a general upward trend in average total tax liability per tax return over the past decade. Starting at $11,020.43 in 2012, it saw notable increases, particularly a significant jump to $16,843.82 in 2016 and another rise to $18,053.70 in 2021. These fluctuations could interest investors and real estate professionals who might interpret this as a sign of growing economic activity or rising incomes in the area. Appraisers and insurance agents may also find this data useful in assessing property values and risk factors, respectively. While the increases do not follow a completely linear path, the overall trend suggests a potentially robust local economy.
Cost of Living in Lafayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,345 | $1,617 | $1,877 | $769 | $1,198 |
| 1 adult 4 children | $1,345 | $1,320 | $1,400 | $769 | $1,278 |
| 2 adults 3 children | $1,345 | $1,321 | $1,646 | $769 | $969 |
| 1 adult 3 children | $1,345 | $1,078 | $1,169 | $769 | $1,031 |
| 2 adults 2 children | $1,105 | $1,081 | $1,416 | $678 | $856 |
| 1 adult 2 children | $1,105 | $808 | $938 | $678 | $803 |
| 2 adults 1 child | $1,105 | $854 | $1,185 | $382 | $838 |
| 1 adult 1 child | $1,105 | $552 | $708 | $382 | $698 |
| 2 adults | $892 | $686 | $955 | $0 | $715 |
| 1 adult | $781 | $374 | $477 | $0 | $603 |
Safety trends & Data
Notable fluctuations in property crimes in Lafayette County, Mississippi could potentially impact insurance premiums and real estate market evaluations. Burglary peaked dramatically in 2019 with 63 cases but fell to just 10 by 2021. While larceny-theft, the most common crime, has seen a steady decline from 151 cases in 2018 to 65 by 2022, fraud has spiked recently, rising from 47 cases in 2021 to 65 in 2022. These shifts suggest evolving risks that could influence market dynamics in the... Read more
Property Crime Trends in Lafayette County, MS Over the Last 5 Years
Over the past five years, Lafayette County, Mississippi has experienced notable fluctuations in property crimes. Burglary saw a significant peak in 2019 with 63 reported cases but then dipped dramatically, hitting a low of 10 cases in 2021. Larceny-Theft, although the most frequent property crime, has shown a gradual decline from 151 cases in 2018 to 65 cases by 2022. Fraud has seen a recent spike, jumping from 47 cases in 2021 to 65 cases in 2022. These trends indicate a shift in the types of property crimes being committed, which could impact insurance premiums and real estate market evaluations in the area.
Demographics
Lafayette County, Mississippi shows that about half the adult population has a bachelor's or higher degree, hinting at a strong educational focus. Age distribution is relatively balanced, but with a noticeable cluster of young adults aged 20-24, likely due to a local university or college presence. The racial makeup reveals a predominantly White population, with a significant Black or African American minority. Observing these trends could inform community planning and development... Read more
Race Distribution in Lafayette County, Mississippi (2022)
Educational Attainment in Lafayette County, Mississippi (2022)
Age Distribution in Lafayette County, Mississippi
Citizen Population in Lafayette County, Mississippi (2022)
Political Trends & Data
In Lafayette County, Mississippi, the political landscape during the 2020 U.S. Presidential Election suggested a Republican tilt, with potentially over 50% of votes leaning GOP. Democrats appeared to trail with just under 43%, while minor parties such as the Libertarians and Greens contributed roughly 1.2%. This GOP dominance could echo broader regional tendencies in Mississippi, where Republican candidates frequently find substantial... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lafayette County, Mississippi, leaned Republican in the 2020 U.S. Presidential Election, with potentially over half the votes cast for the GOP. Democrats seemed to capture just under 43% of the vote, while smaller parties like the Libertarians and Greens together barely made a dent, securing roughly 1.2%. The Republican dominance here might be indicative of broader regional trends in Mississippi, where GOP candidates often perform strongly.
55.28% of voters voted for the Republican party in the 2020 Presidential Election
42.99% of voters voted for the Democrat party in the 2020 Presidential Election
1.03% of voters voted for the Livertarian party in the 2020 Presidential Election
0.17% of voters voted for the Green party in the 2020 Presidential Election
0.52% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lafayette County, Mississippi shows student-to-teacher ratios below the national average, peaking at thirteen students per teacher in 2016 and dropping to eight in 2014. This lower ratio could mean better educational experiences, making the area more appealing to families and potentially driving real estate demand. For investors, builders, and agents, this suggests enhanced property value and long-term community... Read more
Student-to-teacher ratio in Lafayette County, Mississippi over the last 10 years
Over the last decade, Lafayette County, Mississippi has experienced fluctuations in its student-to-teacher ratio, with numbers generally trending below the national average of 14 students per teacher. This ratio peaked in 2016 at thirteen and saw a low in 2014 at eight. These variations could affect the quality of education and individual attention students receive, making the county potentially more attractive to families looking for better educational environments. Real estate agents, investors, and those planning to build properties may find this an appealing factor when considering the value and desirability of the area, while appraisers and insurance agents might see it as an indicator of longer-term stability and community investment.
