Lake County Real Estate and Livability Trends
The average taxable income in Lake County, Ohio, has climbed from $55,519.48 in 2013 to $74,448.78 in 2021, potentially reflecting economic growth that may attract investors. Median home values rose significantly, surpassing both state and national trends, which could indicate promising investment opportunities. Energy tax credits peaked in 2018, hinting at increased energy efficiency efforts.... Read more
Lake County Market Trends
In Lake County, Ohio, the median home value has seen a notable rise from $147,900 in 2015 to $189,600 in 2022, surpassing both Ohio's and the national median increases, which might signal investment potential. Residential energy tax credits spiked dramatically in 2018 to $1,463.64, hinting at increased energy efficiency efforts, while recent stabilization around $470.00 still reflects ongoing... Read more
Median Value of Occupied Housing Units in Lake County, Ohio Over the Last 8 Years
Over the last eight years, Lake County, Ohio has seen the median home value increase from $147,900 in 2015 to $189,600 in 2022, indicating a trend of steady appreciation which mirrors broader trends seen in the state and across the nation. Compared to Ohio's statewide median increase from $129,900 to $183,300 and the national rise from $125,500 to $179,400 during the same period, Lake County's market growth is slightly more accelerated. This may signal potential investment opportunities or increased property values for current homeowners, making Lake County an interesting spot for real estate activities.
Residential Energy Tax Credit Per Tax Return in Lake County, OH Over the Last 9 Years
Over the past nine years, Lake County, Ohio has experienced significant fluctuations in the average residential energy tax credit per tax return. Noteworthy is the dramatic increase in 2018, where the average soared to $1463.64, likely indicating a surge in energy-efficient home upgrades or government incentives during that period. More recently, figures seem to stabilize around $470.00 for 2020 and 2021. This trend could inform real estate agents and potential investors about the growing emphasis on energy efficiency in the region, possibly impacting home values and investment opportunities.
Average Real Estate Taxes Per Tax Return in Lake County, OH Over the Last 10 Years
Over the past decade, Lake County, Ohio has experienced a noticeable increase in average real estate taxes per tax return. From 2012 to 2021, taxes have steadily risen from $3,513.36 to $5,966.96, reflecting a trend that suggests a strengthening local real estate market as well as potentially rising property values. This could be a sign of expanding economic opportunities and amenities attracting newcomers to the area, but it might also mean higher costs for existing homeowners. For investors, appraisers, and real estate agents, this steady increase could indicate a robust and growing market, although it may signal to insurance agents an increase in property-related risk assessments. This trend likely affects both current residents and those considering moving to the area by influencing housing affordability and long-term investment potentials.
Percentage of Farm Returns in Lake County, OH Over the Last 10 Years
Over the past decade, there is an observable, albeit slight, downward trend in the percentage of farm tax returns in Lake County, Ohio, starting at roughly 0.16% in 2012 and dipping to around 0.13% by 2021. This decline could be indicative of a shift in the area's economic landscape, potentially reduced agricultural activity, or changing land use priorities. For those considering investments or property development in Lake County, this trend may suggest a gradual pivot away from agricultural roots, possibly opening up opportunities for other commercial or residential developments. Understanding these patterns can offer insightful context for making informed decisions about engaging in the local economy and land use planning.
Number of Mortgages by Occupancy Type in Lake County, OH Over the Last 5 Years in Lake County
In Lake County, Ohio, there appears to be a consistent interest in principal residences, with mortgage counts hovering in the thousands annually. Investment properties seem to be less volatile but have shown a modest downward trend in recent years, suggesting possible tighter credit conditions or shifting investor appetites. Second residences, while the smallest segment, indicate a stable yet niche market presence. Changes in occupancy types matter because they can hint at broader economic trends—higher investment property mortgages might suggest investor confidence, whereas a spike in principal residences could indicate rising local employment opportunities or favorable living conditions. These insights are crucial for prospective investors evaluating market stability, for real estate agents gauging buyer interest, and for appraisers assessing property values.
Economic Outlook
The average taxable income per tax return in Lake County, Ohio has gradually increased from $55,519.48 in 2013 to $74,448.78 in 2021. This uptick might hint at an economically stable and potentially prosperous region, which could lure investors and new residents, boosting housing and commercial property demands. It's worth noting the spike in average state and local income taxes, jumping from about $5,900 in 2017 to $9,503.60 in 2021, suggesting either a growing economic base or changes in... Read more
Average Taxable Income per Tax Return in Lake County, OH over the last 9 years
The average taxable income per tax return in Lake County, Ohio has shown a general upward trend over the last nine years, starting from $55,519.48 in 2013 and reaching $74,448.78 in 2021. This steady increase, despite a slight dip in 2016, could indicate growing economic stability and prosperity in the region, which might attract potential investors and new residents. For real estate agents and property builders, this positive economic indicator could translate to increased demand for housing and commercial properties. Insurance agents and appraisers might also be interested, as higher average incomes could impact the valuation and risk assessment of properties within the county.
Average State and Local Income Taxes Per Tax Return in Lake County, OH Over the Last 10 Years
Average state and local income taxes per return in Lake County, Ohio, have seen a notable upward trend over the last decade. While the figures fluctuated around $5,700 to $5,900 between 2012 and 2017, there was a significant jump in 2018 with taxes soaring to $8,569.99. This increase continued with slight variations, reaching $9,503.60 in 2021. Such a rise might imply a growing economic base or shifts in local tax policies, which should be of interest to potential investors, real estate agents, and those looking to move to the area. Higher taxes could be reflective of enhanced local services or infrastructure developments that could augment property values.
Average Total Tax Liability Per Tax Return in Lake County, OH Over the Last 10 Years
Lake County, Ohio has experienced a noticeable upward trend in its average total tax liability per tax return over the past decade. Starting in 2012 at approximately $8,512.25, the liability has increased markedly, hitting $11,611.44 by 2021. This escalating tax burden could influence decisions for potential investors, builders, and homebuyers, signaling higher fiscal responsibilities but also potentially reflecting improved public services and infrastructure investments in the area. For real estate professionals and appraisers, understanding these trends is crucial for accurate property valuation and advising clients effectively.
Cost of Living in Lake County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,404 | $1,633 | $1,672 | $1,778 | $1,370 |
| 1 adult 4 children | $1,404 | $1,333 | $1,285 | $1,778 | $1,514 |
| 2 adults 3 children | $1,404 | $1,334 | $1,447 | $1,778 | $1,145 |
| 1 adult 3 children | $1,404 | $1,089 | $1,061 | $1,778 | $1,271 |
| 2 adults 2 children | $1,081 | $1,092 | $1,223 | $1,589 | $931 |
| 1 adult 2 children | $1,081 | $816 | $836 | $1,589 | $949 |
| 2 adults 1 child | $1,081 | $863 | $998 | $974 | $856 |
| 1 adult 1 child | $1,081 | $557 | $611 | $974 | $740 |
| 2 adults | $888 | $693 | $774 | $0 | $635 |
| 1 adult | $779 | $378 | $387 | $0 | $513 |
Safety trends & Data
Property crime in Lake County, Ohio has seen significant fluctuations over the last five years. Larceny-theft, which peaked at 1377 incidents in 2018, dropped dramatically to 241 by 2022. Burglary offenses also decreased substantially from 153 in 2020 to just 14 in 2022. Vandalism, fraud, and stolen property offenses have generally declined as well, indicating possibly improved community or policing efforts. These trends might suggest a safer environment, attracting investments and potentially... Read more
Property Crime Trends in Lake County, OH Over the Last 5 Years
Property crime in Lake County, Ohio has seen notable fluctuations over the last five years. Larceny-theft dominates the numbers, peaking in 2018 with 1377 incidents but then declining to 241 by 2022. Burglary showed a substantial drop from 153 in 2020 to just 14 in 2022. Meanwhile, vandalism, fraud, and stolen property offenses have also generally decreased, reflecting potentially improved community or policing efforts. For those eyeing investments or real estate opportunities in Lake County, these trends might suggest a safer environment over recent years, which could positively impact property values and desirability.
Demographics
Lake County, Ohio's demographic trends highlight a skew toward a slightly higher female population compared to males. Educational attainment varies significantly, with the largest group having completed high school, followed by those with some college but no degree, while participation in graduate programs is relatively smaller. Age distribution reflects a well-balanced mix across age groups, though there appears to be a higher concentration of residents aged 55-64. The racial makeup is... Read more
Race Distribution in Lake County, Ohio (2022)
Educational Attainment in Lake County, Ohio (2022)
Age Distribution in Lake County, Ohio
Citizen Population in Lake County, Ohio (2022)
Political Trends & Data
Lake County, Ohio, showed a distinct preference for the Republican party in the 2020 Presidential Election, with around 56% of the votes. Democrats earned about 43%, highlighting a competitive atmosphere, though Republican-leaning. Minor parties, including Libertarians, made up less than 2% of the vote share, which points to a strong two-party system in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lake County in Ohio exhibited a noticeable inclination towards the Republican party in the 2020 Presidential Election, with approximately 56% of votes cast in their favor. Democrats garnered around 43%, indicating a competitive but clearly Republican-leaning electorate. Libertarians and other minor parties captured a marginal share, collectively under 2%, suggesting limited influence on the overall election outcome. This trend hints at a predominantly two-party system dynamic within the county.
56.15% of voters voted for the Republican party in the 2020 Presidential Election
42.54% of voters voted for the Democrat party in the 2020 Presidential Election
0.98% of voters voted for the Livertarian party in the 2020 Presidential Election
0.33% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lake County, Ohio's student-to-teacher ratio has hovered above the national average, currently at 18 students per teacher after peaking at 19 in 2019. These larger class sizes might impact education quality, a factor that could influence property values and community appeal. For potential investors and homebuyers, keeping an eye on these trends is crucial for understanding long-term neighborhood desirability and educational... Read more
Student-to-teacher ratio in Lake County, Ohio over the last 9 years
Lake County, Ohio has shown a fluctuating but generally increasing student-to-teacher ratio over the past nine years, peaking at 19 students per teacher in 2019 before slight decreases. Currently at 18, Lake County's ratio remains consistently above the national average of 14 students per teacher. This higher ratio might indicate larger class sizes, which could affect the quality of education and tailored attention that students might receive. This is crucial information for potential investors, homebuyers, appraisers, insurance agents, and real estate professionals, as quality of education can significantly influence property values and community appeal. If you're looking to move to or invest in Lake County, consider how these trends might impact long-term educational outcomes and neighborhood desirability.
