Lake County Real Estate and Livability Trends
Lake County, Montana has witnessed significant economic shifts that might be influencing its real estate market. Average taxable incomes have risen sharply from $41,746.96 in 2013 to $68,316.50 by 2021, alongside a jump in state and local income taxes, indicating growing financial obligations and perhaps a more robust local economy. Median home values have surged from $220,200 in 2015 to $337,700... Read more
Lake County Market Trends
Lake County, Montana’s real estate market has seen impressive growth, with median home values climbing from $220,200 in 2015 to $337,700 in 2022, outpacing both the state and national medians. The area’s fluctuations in residential energy tax credits, particularly a spike to $2,200.00 in 2018, hint at varying incentives or increased interest in energy-efficient home improvements. A... Read more
Median Value of Occupied Housing Units in Lake County, Montana Over the Last 8 Years
Lake County, Montana has experienced a noticeable increase in median home values over the past 8 years, outperforming state and national levels. By 2022, the median value in Lake County soared to $337,700 from $220,200 in 2015, reflecting a robust local market growth. Compared to Montana's statewide median of $305,700 and the national median of $179,400 for the same year, Lake County is positioned as a prime location for real estate investment, offering potentially higher returns and attractive growth prospects for those looking to relocate or invest.
Residential Energy Tax Credit Per Tax Return in Lake County, MT Over the Last 9 Years
Lake County, Montana has seen significant fluctuations in the average residential energy tax credit per tax return over the past nine years. Notably, there’s a dramatic spike in 2018 where the average credit jumped to $2,200.00, compared to other years which mostly hover below $1,000.00. This variability could indicate changing incentives or increased adoption of energy-efficient technologies during specific periods. For investors or real estate agents, these trends might signal periods of heightened interest and investment in energy-efficient home improvements, which could affect property values and appeal.
Average Real Estate Taxes Per Tax Return in Lake County, MT Over the Last 10 Years
Lake County, Montana has seen a consistent upward trend in average real estate taxes per tax return over the past decade, starting from around $2,864.84 in 2012 and peaking at approximately $5,151.16 in 2020. The sharp increases, particularly from 2018 onwards, highlight a rising demand and possibly an appreciating property market. This data can be crucial for potential investors and real estate professionals, suggesting an evolving market that could impact property values and investment returns. For current residents and new movers, understanding these trends can help in financial planning and setting expectations for property tax obligations.
Percentage of Farm Returns in Lake County, MT Over the Last 10 Years
Over the past decade in Lake County, Montana, there has been a gradual decline in the percentage of farm tax returns, decreasing from roughly 6.89% in 2012 to around 5.51% in 2021. Farm tax returns, essentially tax filings from agricultural businesses, reflect farm activity levels and economic health in rural areas. The consistent downward trend could be indicative of less farming activity or consolidation within the agricultural sector. For those looking to invest in, move to, or develop property in Lake County, this might suggest a shift away from traditional farming, potentially opening opportunities for other types of land use and business development.
Number of Mortgages by Occupancy Type in Lake County, MT Over the Last 5 Years in Lake County
Lake County, Montana has experienced noticeable fluctuations in mortgage activity over the past five years, with principal residence mortgages ranging from 879 to 1689 annually. Investment properties have maintained a consistent, albeit lower, range from 57 to 84 per year. Interestingly, second residences saw a notable increase, peaking at 344 in 2020 but dropping to 126 by 2022. Shifts in occupancy type matter because they can signal market priorities and economic health, influencing insurance rates, appraisal values, and investment strategies. For example, a rise in principal residence mortgages might suggest a growing local population, while an increase in second homes could indicate an attractive environment for seasonal living.
Economic Outlook
Lake County, Montana has experienced rising average taxable incomes, climbing from $41,746.96 in 2013 to $68,316.50 by 2021, reflecting a potentially improving local economy. The area also saw a significant increase in state and local income taxes, jumping from $4,253.23 in 2012 to $13,437.04 by 2021, suggesting growing financial obligations for residents. Additionally, total tax liability per tax return peaked at $11,343.08 in 2021, hinting at rising incomes and possible economic growth. This... Read more
Average Taxable Income per Tax Return in Lake County, MT over the last 9 years
Over the past nine years, average taxable income per tax return in Lake County, Montana has seen a steady increase. From $41,746.96 in 2013, it has risen significantly to $68,316.50 in 2021. This upward trend indicates a potentially improving local economy, which might interest investors, real estate agents, and potential new residents. The most notable jumps occurred between 2018 ($50,966.99) and 2021, suggesting recent economic changes or growth areas worthy of further exploration.
Average State and Local Income Taxes Per Tax Return in Lake County, MT Over the Last 10 Years
Over the past decade, Lake County, Montana has seen a notable increase in average state and local income taxes per tax return. Starting at around $4,253.23 in 2012, the amount consistently climbed each year, reaching a significant spike to $13,437.04 by 2021. This trend suggests rising financial obligations for residents, potentially influencing decisions for those considering moving to or investing in the area. It could also signal an expanding tax base and possibly higher public service expenditures, which might attract or deter different stakeholders, from real estate investors to insurance agents.
Average Total Tax Liability Per Tax Return in Lake County, MT Over the Last 10 Years
Over the past decade, average total tax liability per tax return in Lake County, Montana has seen a steady upward trend, peaking at $11,343.08 in 2021. This significant increase, especially from 2020 onwards, might interest potential investors and real estate agents considering the economic growth in the area. Higher tax liabilities could indicate rising incomes, potentially due to a burgeoning economy or improved local wages. Those planning to invest or move to Lake County could view this trend as a marker of economic prosperity, albeit one that may impact decisions regarding property investments and tax planning.
Cost of Living in Lake County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,110 | $1,540 | $1,805 | $1,276 | $1,326 |
| 1 adult 4 children | $1,110 | $1,258 | $1,398 | $1,276 | $1,478 |
| 2 adults 3 children | $1,110 | $1,258 | $1,557 | $1,276 | $1,079 |
| 1 adult 3 children | $1,110 | $1,027 | $1,150 | $1,276 | $1,211 |
| 2 adults 2 children | $888 | $1,030 | $1,310 | $1,106 | $920 |
| 1 adult 2 children | $888 | $769 | $903 | $1,106 | $920 |
| 2 adults 1 child | $888 | $814 | $1,062 | $553 | $814 |
| 1 adult 1 child | $888 | $526 | $655 | $553 | $698 |
| 2 adults | $719 | $654 | $815 | $0 | $637 |
| 1 adult | $594 | $357 | $407 | $0 | $548 |
Safety trends & Data
Lake County, Montana has observed interesting fluctuations in property crime over the past five years which might impact property values and insurance rates. Larceny-Theft increased from 55.00 to 104.00 reported incidents, while Motor Vehicle Theft peaked at 25.00 in 2020. Vandalism surged more than threefold in 2020 and 2022, though Burglary stayed steady with minor variations, reaching a high of 12.00 in 2021. These trends could influence investment decisions for those considering engagement... Read more
Property Crime Trends in Lake County, MT Over the Last 5 Years
Lake County, Montana has seen notable fluctuations in property crime over the past five years. From 2018 to 2022, Larceny-Theft consistently topped the charts with a concerning rise from 55.00 to 104.00 reported incidents. Motor Vehicle Theft also saw an increase peaking at 25.00 in 2020. Vandalism incidents surged in 2020 and 2022, reflecting more than a threefold rise from 2018. Burglary remained relatively stable with slight variations, peaking at 12.00 in 2021. These crime trends could influence property values, insurance rates, and investment decisions for those looking to engage with the local real estate market.
Demographics
Lake County, Montana, shows an almost even split in the adult population by gender, contributing to its balanced community dynamic. Educationally, the majority have completed high school or engaged in some college, producing a fairly knowledgeable population base. The age distribution leans towards older demographics, hinting at a potentially significant retirement community influence, especially with a notable percentage over 55 years. Racially, the county is predominantly White, with a... Read more
Race Distribution in Lake County, Montana (2022)
Educational Attainment in Lake County, Montana (2022)
Age Distribution in Lake County, Montana
Citizen Population in Lake County, Montana (2022)
Political Trends & Data
Lake County in Montana likely leans conservative based on the 2020 U.S. Presidential Election results, where over 56% of votes were cast for the Republican Party. The Democratic Party garnered just above 41%, while Libertarians received about 2%. This political inclination could suggest a market environment influenced by conservative values, which may impact zoning laws, property taxes, and development policies. Understanding these trends might be crucial for investors and home buyers... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lake County in Montana likely saw a significant Republican preference in the 2020 U.S. Presidential Election, with over 56% of votes going to the Republican Party. The Democratic Party followed with just over 41%, while Libertarians held a small fraction of the vote at around 2%. This data might suggest a strong conservative leaning in the local electorate, with minimal support for third parties.
56.07% of voters voted for the Republican party in the 2020 Presidential Election
41.60% of voters voted for the Democrat party in the 2020 Presidential Election
2.33% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Lake County, Montana's student-to-teacher ratios have trended lower than the national average, dropping from 14 in 2014 to a current steady rate around 12.5. This trend might be attractive to homebuyers and investors, as it suggests more individualized attention in local schools, potentially enhancing property values. Real estate and insurance professionals could find this information valuable for assessing the community's... Read more
Student-to-teacher ratio in Lake County, Montana over the last 10 years
Lake County, Montana has seen its student-to-teacher ratio trend below the national average over the past decade. Starting at 14 students per teacher in 2014, the ratio has consistently dipped to around 12, stabilizing near 12.5 in recent years. For potential investors, homebuyers, or those considering a move to the area, a lower ratio could suggest more individualized attention for students, which might enhance the perceived value of local schools. Real estate agents and appraisers might also find this data useful, as quality education is often a significant consideration for families. Lower student-to-teacher ratios can potentially influence property values positively, while being a noteworthy factor for insurance agents and builders evaluating community strengths.
