Lackawanna County Real Estate and Livability Trends
Average taxable income in Lackawanna County, Pennsylvania has risen from $49,629.01 in 2013 to $68,831.21 by 2021, hinting at a stronger local economy. Concurrently, real estate taxes and average total tax liabilities have also notably increased, which could shape investment strategies. Median home values have seen steady but slower growth compared to state figures, climbing from $144,800 in 2015... Read more
Lackawanna County Market Trends
Median home values in Lackawanna County, Pennsylvania have seen steady growth, though they're still trailing state and national figures. From 2015 to 2022, the county's median home values rose from $144,800 to $175,700, a slower climb compared to Pennsylvania's rise from $166,000 to $226,200. Interestingly, residential energy tax credits spiked significantly in 2018, likely due to temporary... Read more
Median Value of Occupied Housing Units in Lackawanna County, Pennsylvania Over the Last 8 Years
Over the last eight years, median home values in Lackawanna County, Pennsylvania have typically lagged behind both state and national levels, though the gap isn't particularly vast. While Pennsylvania saw a significant rise from $166,000 in 2015 to $226,200 in 2022, Lackawanna County's more modest climb went from $144,800 to $175,700 during the same period. In a larger context, this growth still outpaces the U.S. median, which started at $125,500 in 2015 and reached $179,400 by 2022. For investors, this trend suggests that Lackawanna County could be an appealing option, given its affordable yet steadily increasing home values relative to state and national trends.
Residential Energy Tax Credit Per Tax Return in Lackawanna County, PA Over the Last 9 Years
Over the past nine years, Lackawanna County, Pennsylvania has seen significant fluctuations in average residential energy tax credits per tax return. Notable spikes occurred in 2017 with an average of $489.23 and an even more substantial increase in 2018, reaching $2010.00. These periodic increases likely reflect temporary policy changes or incentives spurring energy-efficient home improvements. For potential investors, real estate agents, and homeowners, understanding these trends is crucial for anticipating future tax benefits linked to energy-efficient investments.
Average Real Estate Taxes Per Tax Return in Lackawanna County, PA Over the Last 10 Years
Over the last decade, Lackawanna County, Pennsylvania, has seen a consistent increase in average real estate taxes per tax return, with significant jumps observed post-2017. Starting at $3,724.92 in 2012, the rate climbed steadily to $4,524.44 by 2017. However, a notable spike occurred in 2018, raising the average to $5,848.02, and it continued to rise, reaching $6,421.43 by 2021. This trend matters for potential investors, appraisers, and residents as it indicates rising property tax liabilities, which could impact investment strategies, cost of living, and property valuations in the county.
Percentage of Farm Returns in Lackawanna County, PA Over the Last 10 Years
Over the last decade, Lackawanna County, Pennsylvania saw farm returns hover around 0.15% to 0.18%, with a slight peak in 2017 at about 0.18%. Farm tax returns reflect the portion of the population filing farm-related income, indicating the agricultural activity in the area. This consistent low percentage suggests a stable yet minor role of agriculture in the local economy. For investors, developers, and potential residents, this trend highlights an environment potentially more focused on other industries, perhaps less ideal for large-scale agricultural investments but possibly favorable for diversified economic activities.
Number of Mortgages by Occupancy Type in Lackawanna County, PA Over the Last 5 Years in Lackawanna County
In Lackawanna County, Pennsylvania, there has been a noticeable shift in the number of mortgages by occupancy type over the last five years. Mortgages for principal residences dominate the market, while investment properties and second residences have varied more modestly. This trend could impact the local real estate market, potentially indicating a demand for housing stability over investment opportunities. For investors, the relatively low number of investment property mortgages might suggest less competition. Real estate agents and appraisers might see a shift in property valuations, and insurance agents could adjust their offerings based on the primary occupancy type. These shifts could offer valuable insights for anyone considering moving to or investing in the area.
Economic Outlook
In Lackawanna County, Pennsylvania, average taxable income per tax return has shown a general rise from $49,629.01 in 2013 to $68,831.21 by 2021, signaling a potential improvement in local economic conditions. Meanwhile, state and local income taxes per tax return have increased from $5,359.51 in 2012 to $12,156.27 by 2021, indicating either a growing economic base or higher living costs. The average total tax liability per tax return has also risen from $8,170.35 in 2012 to $11,200.86 by 2021.... Read more
Average Taxable Income per Tax Return in Lackawanna County, PA over the last 9 years
Over the past nine years in Lackawanna County, Pennsylvania, average taxable income per tax return has generally increased, though at sometimes varying rates. Beginning at $49,629.01 in 2013 and rising to $68,831.21 by 2021, this trend suggests economic conditions in the county may be gradually improving. For stakeholders, this upward movement can inform decisions regarding investment opportunities, real estate value estimations, and market analysis for new developments. However, it's advisable to consider potential volatility and broader economic factors when interpreting these figures.
Average State and Local Income Taxes Per Tax Return in Lackawanna County, PA Over the Last 10 Years
State and local income taxes per tax return in Lackawanna County, Pennsylvania have been on a notable upward trend over the past decade. Beginning at $5,359.51 in 2012, the average taxes have surged to $12,156.27 by 2021. There was a particularly sharp increase starting in 2017, likely influenced by changes in tax legislation or income brackets. This trend could suggest a growing economic base or higher living costs in the county, impacting decisions for investors, real estate agents, and potential residents.
Average Total Tax Liability Per Tax Return in Lackawanna County, PA Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Lackawanna County, Pennsylvania has shown a notable upward trend. Starting at around $8,170.35 in 2012, it steadily rose to $11,200.86 by 2021. Although there are slight drops in 2018, the overall trajectory suggests increasing tax burdens. This pattern could be indicative of rising incomes, property values, or changes in tax policy, and is worth considering for potential investors, real estate agents, and other stakeholders in the area.
Cost of Living in Lackawanna County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,323 | $1,528 | $1,573 | $1,926 | $1,323 |
| 1 adult 4 children | $1,323 | $1,248 | $1,207 | $1,926 | $1,446 |
| 2 adults 3 children | $1,323 | $1,248 | $1,363 | $1,926 | $1,114 |
| 1 adult 3 children | $1,323 | $1,019 | $997 | $1,926 | $1,219 |
| 2 adults 2 children | $1,023 | $1,022 | $1,152 | $1,674 | $928 |
| 1 adult 2 children | $1,023 | $763 | $786 | $1,674 | $915 |
| 2 adults 1 child | $1,023 | $808 | $942 | $854 | $806 |
| 1 adult 1 child | $1,023 | $522 | $576 | $854 | $676 |
| 2 adults | $837 | $649 | $731 | $0 | $613 |
| 1 adult | $716 | $354 | $366 | $0 | $500 |
Safety trends & Data
Property crime in Lackawanna County, Pennsylvania has seen substantial improvements, with larceny-theft cases plummeting from 379.00 in 2018 to 83.00 in 2022 and burglary arrests dropping from 63.00 to 19.00 in the same period. These changes could be particularly reassuring for potential investors and homeowners seeking safer neighborhoods. However, vandalism and fraud incidents have shown moderate fluctuations, hinting at ongoing challenges for insurers and appraisers. Embezzlement dropped... Read more
Property Crime Trends in Lackawanna County, PA Over the Last 5 Years
Property crime in Lackawanna County, Pennsylvania has seen notable shifts over the past five years. Larceny-theft incidents significantly dropped from 379.00 cases in 2018 to 83.00 in 2022, suggesting a positive trend for potential investors and residents concerned about theft. Meanwhile, burglary arrests saw a drastic dip from 63.00 in 2018 to 19.00 in 2022, enhancing appeal for homeowners and real estate agents promoting safer neighborhoods. Conversely, vandalism and fraud incidents have shown moderate variability, indicating areas for continual vigilance for insurers and appraisers. Embezzlement dropped sharply to just 3.00 incidents in 2020, but fluctuated slightly afterward, worth noting for financial institutions and business operators. These evolving crime patterns, especially in property-related offenses, provide critical insights for those directly or indirectly engaged in the real estate market in Lackawanna County.
Demographics
Lackawanna County, Pennsylvania, shows a slightly higher number of female adults compared to male adults. There's a broad range of educational attainment, with high school graduates making up a significant segment, but also a notable number pursuing higher education degrees. The age distribution suggests a balanced spread across all age groups, but those aged 55 to 64 years appear to have a slight edge. The racial demographics indicate a predominantly White population, with smaller, yet... Read more
Race Distribution in Lackawanna County, Pennsylvania (2022)
Educational Attainment in Lackawanna County, Pennsylvania (2022)
Age Distribution in Lackawanna County, Pennsylvania
Citizen Population in Lackawanna County, Pennsylvania (2022)
Political Trends & Data
Lackawanna County, Pennsylvania's 2020 election results show a subtle Democratic lean, with 54% of votes going to Democrats and around 45% to Republicans. This shift could influence real estate market trends, as areas with changing political landscapes often see varying investment and development patterns. The minimal Libertarian vote suggests limited third-party influence, potentially driving a more predictable market behavior aligned with the predominant parties'... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Lackawanna County, Pennsylvania, the 2020 U.S. Presidential Election results suggest a slight lean towards the Democratic Party, which may hint at evolving political dynamics in the region. Republicans accounted for approximately 45% of the vote, while Democrats garnered around 54%, indicating a modest yet notable preference for Democratic candidates. The Libertarian presence was very minimal, potentially reflecting limited appeal for third-party options among voters here.
45.35% of voters voted for the Republican party in the 2020 Presidential Election
53.71% of voters voted for the Democrat party in the 2020 Presidential Election
0.94% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
In Lackawanna County, Pennsylvania, the student-to-teacher ratio has steadily decreased from around 15 students per teacher in 2014 to just above 13 in 2023, suggesting a slight uptick in educational quality due to smaller class sizes. With the ratio dipping below the national average of 14 students per teacher from 2021 onwards, this could attract families to the area due to the perceived commitment to education. This trend might be appealing to potential homebuyers and investors, signaling a... Read more
Student-to-teacher ratio in Lackawanna County, Pennsylvania over the last 10 years
Lackawanna County, Pennsylvania has seen a gradual decrease in its student-to-teacher ratio over the past decade, moving from around 15 students per teacher in 2014 to just above 13 in 2023. This trend suggests a slight improvement in educational quality, as smaller class sizes can often lead to more personalized instruction and better outcomes for students. While the ratio dipped below the national average of 14 students per teacher starting in 2021, potential homebuyers, investors, and real estate agents might find this appealing as it signals a commitment to education that could attract families to the area. For appraisers and insurance agents, these shifts might indicate a stable or potentially appreciating property market, driven by sought-after educational benefits.
