Cortland County Real Estate and Livability Trends
Cortland County, New York has shown promising trends in its real estate market, with median home values rising from $108,200 in 2015 to $148,200 in 2022, although still below the state average of $384,100. Mortgage activity for principal residences has remained robust, reflecting local homeowners' confidence. Adding to this, the county's average taxable income per tax return has increased from... Read more
Cortland County Market Trends
Cortland County, New York, has seen median home values rise from $108,200 in 2015 to $148,200 in 2022, still significantly below the state average of $384,100. Residential energy tax credits spiked to $3,880.00 in 2018, suggesting heightened interest in energy-efficient upgrades. Real estate taxes have climbed from around $5,500.83 in 2012 to approximately $7,998.41 by 2021, hinting at rising... Read more
Median Value of Occupied Housing Units in Cortland County, New York Over the Last 8 Years
Cortland County, New York saw a steady increase in median home values from $108,200 in 2015 to $148,200 in 2022. Though this growth is quite considerable, it's still markedly lower than the state average, which reached $384,100 by 2022. On a national level, Cortland County's home values also fall behind the median, which hit $179,400 in 2022. This relative affordability compared to both state and national averages may present attractive opportunities for investors or individuals looking to move to a more budget-friendly location within New York State.
Residential Energy Tax Credit Per Tax Return in Cortland County, NY Over the Last 9 Years
Over the past nine years, Cortland County in New York has seen significant fluctuations in residential energy tax credits per tax return, peaking dramatically at $3,880.00 in 2018. The average values typically hovered around $750.00 but showed noteworthy spikes in 2015, 2017, and 2018. These variations suggest an increased interest or incentivization in energy-efficient home improvements during those years, potentially signaling opportunities for real estate investors, appraisers, and builders.
Average Real Estate Taxes Per Tax Return in Cortland County, NY Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Cortland County, New York have shown a steady and significant increase, starting at around $5,500.83 in 2012 and reaching approximately $7,998.41 by 2021. For those looking to invest in or move to the county, this upward trend may suggest rising property values, potentially increasing the long-term return on investment. However, this also means higher annual costs for property owners, which is crucial for both appraisers and insurance agents to consider when evaluating property values and risks. Real estate agents and builders in the area should be prepared for this ongoing increase and might use this information to help clients make more informed decisions.
Percentage of Farm Returns in Cortland County, NY Over the Last 10 Years
Cortland County, New York has experienced a subtle decline in the percentage of farm tax returns over the past decade, from 2.11% in 2012 to about 1.88% in 2021. Farm tax returns are essential as they provide insight into the agricultural economic activity within the county, reflecting the local farming community's contributions to the area's economy. These trends may suggest shifts in the agricultural sector's performance and could be a signal for investors and stakeholders to explore underlying causes, such as market changes, policy impacts, or shifting land use patterns. Understanding these dynamics is key for those considering investments, relocations, or development in the region, ensuring informed decisions based on the agricultural sector's health.
Number of Mortgages by Occupancy Type in Cortland County, NY Over the Last 5 Years in Cortland County
Over the past five years in Cortland County, New York, mortgages for principal residences have consistently represented the majority of activity, markedly outpacing both investment and second residences. This type of data is crucial as it not only signals homeowner confidence and community stability but also impacts local market dynamics, influencing property values, rental market saturation, and even insurance considerations. For investors and developers, a high count of principal residence mortgages might indicate a robust, less volatile market, whereas a spike in investment property mortgages could suggest emerging rental opportunities or shifts in housing demand. Insurance agents and appraisers might also find this data useful to gauge risk and property valuation trends.
Economic Outlook
Cortland County, New York has seen a steady increase in average taxable income per tax return, climbing from $47,308.21 in 2013 to $62,702.12 in 2021, suggesting an improving economic environment that may attract investors and real estate agents. The average state and local income taxes per tax return spiked to $12,391.53 in 2019, before stabilizing around $8,698.15 in 2021, hinting at significant economic or policy changes. Furthermore, the average total tax liability per tax return peaked at... Read more
Average Taxable Income per Tax Return in Cortland County, NY over the last 9 years
Over the past nine years, Cortland County, New York has experienced a consistent increase in average taxable income per tax return, starting from $47,308.21 in 2013 and reaching $62,702.12 in 2021. This steady climb suggests a gradually improving economic landscape, which may be appealing to potential investors and real estate agents considering the area for its growth potential. For appraisers and insurance agents, this rise might imply a subsequent increase in property values and insurance needs, reflecting a stronger, more prosperous community.
Average State and Local Income Taxes Per Tax Return in Cortland County, NY Over the Last 10 Years
Over the last decade, Cortland County, New York has seen a noticeable increase in the average state and local income taxes per tax return, jumping from approximately $5,516.86 in 2012 to about $12,391.53 in 2019 before stabilizing closer to $8,698.15 in 2021. The spike in 2018 and 2019 likely reflects a significant economic or policy change influencing taxpayers. For investors, real estate agents, or those considering relocation, this trend might suggest evolving fiscal policies or shifting economic conditions in the area.
Average Total Tax Liability Per Tax Return in Cortland County, NY Over the Last 10 Years
Cortland County, New York has seen fluctuating average total tax liability per tax return over the last decade, with a notable peak at $8,319.63 in 2021. The county has experienced a general upward trend, particularly notable between 2017 and 2021, which might indicate rising income levels or changes in tax policies in the area. This evolving tax landscape is crucial for potential investors, real estate agents, and appraisers to consider as it could impact property values and overall economic health. Understanding these patterns can provide deeper insights into the local economic stability and inform more strategic decisions for those engaged with Cortland County real estate or financial planning.
Cost of Living in Cortland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,153 | $1,472 | $1,529 | $1,610 | $1,201 |
| 2 adults 3 children | $1,153 | $1,202 | $1,496 | $1,610 | $1,013 |
| 1 adult 4 children | $1,153 | $1,202 | $949 | $1,610 | $1,256 |
| 1 adult 3 children | $1,153 | $982 | $916 | $1,610 | $1,065 |
| 2 adults 2 children | $947 | $984 | $1,463 | $1,396 | $944 |
| 1 adult 2 children | $947 | $735 | $883 | $1,396 | $889 |
| 2 adults 1 child | $947 | $778 | $1,430 | $698 | $907 |
| 1 adult 1 child | $947 | $502 | $850 | $698 | $718 |
| 2 adults | $780 | $625 | $1,032 | $0 | $702 |
| 1 adult | $775 | $341 | $516 | $0 | $618 |
Safety trends & Data
Property crime trends in Cortland County, New York, have fluctuated over the last five years, with burglary incidents decreasing from 52.00 in 2018 to a low of 17.00 in 2021 before rising to 36.00 in 2022. Larceny-theft cases peaked at 211.00 in 2018 but dropped to 173.00 by 2022, while vandalism showed variability, peaking at 67.00 in 2019 and stabilizing at 63.00 in 2022. These patterns could be key for potential investors, property developers, and insurance agents as they assess risk and... Read more
Property Crime Trends in Cortland County, NY Over the Last 5 Years
Property crime trends in Cortland County, New York, have shown notable fluctuations over the last five years. Burglary incidents have generally decreased from 52.00 in 2018 to a low of 17.00 in 2021 before slightly increasing to 36.00 in 2022. Larceny-theft remains the most prevalent category, hitting a peak of 211.00 cases in 2018 and experiencing a moderate drop to 173.00 cases in 2022. Meanwhile, vandalism cases have also seen variability, peaking at 67.00 in 2019, but were relatively stable at 63.00 by 2022. These trends could be crucial for potential investors, property developers, and insurance agents assessing risk and security considerations in the county.
Demographics
Cortland County, New York, appears to maintain a nearly even gender distribution among adults, slightly favoring females. Educational attainment leans heavily towards high school graduates, but there's a sizable group with bachelor's degrees, suggesting a moderately educated workforce. The most populous age group falls within 55 to 64 years, hinting at a potentially aging population. Racial demographics indicate a predominantly white community, with small but present minority populations. This... Read more
Race Distribution in Cortland County, New York (2022)
Educational Attainment in Cortland County, New York (2022)
Age Distribution in Cortland County, New York
Citizen Population in Cortland County, New York (2022)
Political Trends & Data
Cortland County, New York, witnessed a nearly balanced split in the 2020 U.S. Presidential Election, with Republicans holding a slight edge over Democrats. This suggests a competitive political landscape, making it a unique market for politically informed investment choices. Although third-party candidates gained only a modest fraction of the vote, their presence indicates a diverse political engagement that might influence community and real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Cortland County, New York, the 2020 U.S. Presidential Election saw a nearly balanced split between Republican and Democrat votes, with Republicans slightly leading. The Libertarian and Green parties, along with other small parties, collectively garnered a modest fraction of the vote. This suggests a potentially competitive political environment in the county, with significant but not overwhelming support for third-party candidates.
49.28% of voters voted for the Republican party in the 2020 Presidential Election
47.36% of voters voted for the Democrat party in the 2020 Presidential Election
1.35% of voters voted for the Livertarian party in the 2020 Presidential Election
0.52% of voters voted for the Green party in the 2020 Presidential Election
1.49% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Cortland County, New York, the last decade has shown a relatively stable student-to-teacher ratio, consistently below the national average of 14 students per teacher. Ratios ranging from 9.66 to 12.36 may appeal to families and educators looking for personalized student attention. Notably low ratios, like 9:1 in 2020, could lead to better educational outcomes, thus signaling a strong community infrastructure that might positively influence property values and attractiveness of the... Read more
Student-to-teacher ratio in Cortland County, New York over the last 10 years
Over the last decade, Cortland County, New York has seen a relatively stable student-to-teacher ratio, consistently hovering below the national average of 14 students per teacher. With values ranging from 9.66 to 12.36, the county's educational environment may be appealing to families and educators seeking more personalized attention for students. The notably low ratios observed in recent years, such as nine-to-one in 2020, can potentially lead to higher quality education and better student outcomes. Prospective real estate investors, appraisors, and insurance agents might find these figures indicative of a strong, supportive community infrastructure, which can affect property values and attractiveness of the area.
