Lancaster County Real Estate and Livability Trends
Lancaster County, Pennsylvania has seen its median home values shoot up from $189,200 in 2015 to $263,600 by 2022, outpacing both state and national trends, likely making it attractive to investors. The rise in average taxable income per tax return from $56,254.59 in 2013 to $82,311.64 in 2021 signals economic growth, possibly linked to job market dynamics. Alongside this, a drop in the... Read more
Lancaster County Market Trends
Lancaster County, Pennsylvania's median home values have surged from $189,200 in 2015 to $263,600 by 2022, outpacing both the state and national growth. The dramatic increase in residential energy tax credit values, peaking at $2,841.89 in 2018, suggests heightened energy-efficient home improvements. Real estate taxes have consistently risen from $4,127.20 in 2012 to $6,311.01 by 2021, indicating... Read more
Median Value of Occupied Housing Units in Lancaster County, Pennsylvania Over the Last 8 Years
Lancaster County, Pennsylvania's median home values have shown a consistent upward trend over the past eight years, almost mirroring the state's growth but significantly outperforming national averages. Starting at $189,200 in 2015, Lancaster County saw values climb to $263,600 by 2022. Pennsylvania overall saw an increase from $166,000 to $226,200 during the same period, while nationally, values went from $125,500 to $179,400. This highlights Lancaster County's robust property appreciation, potentially indicating a more resilient and lucrative market for investors and homebuyers than broader state and national metrics.
Residential Energy Tax Credit Per Tax Return in Lancaster County, PA Over the Last 9 Years
Lancaster County, Pennsylvania has shown notable fluctuations in residential energy tax credit values per tax return over the past nine years. A steady increase was observed from 2013's average of $495.49 to 2017's peak at $813.55, followed by a sharp spike in 2018 to $2841.89. Post-2018, a decrease occurred, but values remained relatively high, hovering over $900.00 in subsequent years, ending at $1078.05 in 2021. For investors, homeowners, and real estate agents, these trends could hint at varying levels of energy-efficient home improvements, influencing property appraisals and insurance considerations.
Average Real Estate Taxes Per Tax Return in Lancaster County, PA Over the Last 10 Years
Over the past decade, Lancaster County, Pennsylvania has seen a general trend of increasing real estate taxes per tax return. Beginning at approximately $4,127.20 in 2012 and rising consistently to around $6,311.01 by 2021, the escalation was steady with a notable jump between 2017 and 2018. This suggests a growing burden on property owners which could impact affordability and attractiveness for potential buyers. For investors, real estate professionals, and insurance agents, understanding these trends is crucial as they may affect market dynamics, property valuations, and the overall appeal of the county.
Percentage of Farm Returns in Lancaster County, PA Over the Last 10 Years
Lancaster County, Pennsylvania has experienced some slight fluctuations in the percentage of farm tax returns over the past decade. Starting at 2.16% in 2012, there has been a modest upward trend peaking at 2.20% in 2016 before a small decline settled around 2.10% from 2018 to 2020, with a recent uptick to approximately 2.14% in 2021. Farm tax returns generally reflect the financial health and activity level of agricultural sectors, hinting at stability and mild growth despite subtle variances. This metric can be vital for investors and developers, as it implies consistent agricultural presence, potentially influencing land value and community dynamics in Lancaster County.
Number of Mortgages by Occupancy Type in Lancaster County, PA Over the Last 5 Years in Lancaster County
In Lancaster County, Pennsylvania, the number of mortgages for principal residences has been the highest compared to investment properties and second residences over the past five years. However, there is a notable increase in investment property mortgages from 2018 to 2021, which might indicate rising interest from investors in the area. This shift could have implications for real estate agents, investors, and builders as it might signal growing demand for rental properties and potential changes in the local housing market landscape. Understanding these trends can help appraisers and insurance agents assess risk and value more accurately, while those looking to move or invest in the area can make more informed decisions.
Economic Outlook
Lancaster County, Pennsylvania has witnessed a significant increase in average taxable income per tax return, growing from around $56,254.59 in 2013 to approximately $82,311.64 in 2021. This trend hints at broader economic improvements or shifts in the local job market, likely attracting investors and new residents, which can boost real estate and property values. Meanwhile, average state and local income taxes have also risen from roughly $4,731.26 in 2012 to about $11,451.34 in 2021,... Read more
Average Taxable Income per Tax Return in Lancaster County, PA over the last 9 years
Over the past nine years, Lancaster County, Pennsylvania has experienced a notable increase in average taxable income per tax return, showing a growth from around $56,254.59 in 2013 to approximately $82,311.64 in 2021. This upward trend likely reflects broader economic improvements or changes in the local job market, which may attract potential investors, new residents, and real estate development. For appraisers and insurance agents, the rising incomes could indicate higher property values and an increased need for tailored insurance solutions.
Average State and Local Income Taxes Per Tax Return in Lancaster County, PA Over the Last 10 Years
Over the last decade, Lancaster County, Pennsylvania has seen a marked increase in average state and local income taxes per tax return, rising from approximately $4,731.26 in 2012 to about $11,451.34 in 2021. These escalating tax obligations may imply growing regional economic activity and potential governmental investments in local infrastructure and services. For prospective investors or new residents, this trend could suggest enhanced local amenities but indicates a higher cost of living. Real estate agents and appraisers might find these trends relevant when adjusting property values, while insurance agents might consider them when assessing risk profiles.
Average Total Tax Liability Per Tax Return in Lancaster County, PA Over the Last 10 Years
In Lancaster County, Pennsylvania, the average total tax liability per tax return has seen steady growth over the past decade. Starting from $8,903.43 in 2012, it increased to $13,534.61 by 2021. This upward trend might indicate economic growth or rising incomes, making the area potentially attractive for investors and real estate agents. However, the noticeable jump between 2020 and 2021 warrants attention from appraisers and insurance agents, possibly reflecting changes in local economic conditions or tax laws.
Cost of Living in Lancaster County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,631 | $1,576 | $1,689 | $2,059 | $1,641 |
| 1 adult 4 children | $1,631 | $1,287 | $1,297 | $2,059 | $1,755 |
| 2 adults 3 children | $1,631 | $1,288 | $1,463 | $2,059 | $1,379 |
| 1 adult 3 children | $1,631 | $1,051 | $1,071 | $2,059 | $1,519 |
| 2 adults 2 children | $1,286 | $1,054 | $1,237 | $1,804 | $1,116 |
| 1 adult 2 children | $1,286 | $787 | $845 | $1,804 | $1,161 |
| 2 adults 1 child | $1,286 | $833 | $1,010 | $974 | $964 |
| 1 adult 1 child | $1,286 | $538 | $618 | $974 | $858 |
| 2 adults | $1,025 | $669 | $784 | $0 | $723 |
| 1 adult | $893 | $365 | $392 | $0 | $580 |
Safety trends & Data
Lancaster County, Pennsylvania has experienced substantial declines in property crime over the last five years, potentially making it more attractive for investors, new residents, and developers. Burglary incidents dropped from 174.00 in 2018 to 49.00 in 2022 and larceny-theft cases fell from 1347.00 to 502.00 during the same period. While arson and motor vehicle theft have been somewhat variable year-to-year, they generally show a downward trend, pointing to possibly improving safety... Read more
Property Crime Trends in Lancaster County, PA Over the Last 5 Years
Over the last five years, Lancaster County, Pennsylvania has seen a noticeable decrease in property crime. Significant drops in burglary and larceny-theft are noteworthy, with burglary decreasing from 174.00 incidents in 2018 to just 49.00 in 2022, and larceny-theft falling from 1347.00 incidents in 2018 to 502.00 in 2022. Arson and motor vehicle theft have also seen generally declining trends, although with some year-to-year variability. These trends may suggest improving safety conditions, making Lancaster County potentially more appealing for investors, new residents, real estate agents, and property developers.
Demographics
Lancaster County, Pennsylvania shows nearly equal adult male and female populations, suggesting gender parity. The county's educational attainment skew heavily towards high school graduates and those with some college education, while fewer residents hold graduate or professional degrees. Age distribution indicates a balance, though the largest group consists of adults aged 25 to 34, hinting at a youthful and possibly economically active demographic. The racial composition remains predominantly... Read more
Race Distribution in Lancaster County, Pennsylvania (2022)
Educational Attainment in Lancaster County, Pennsylvania (2022)
Age Distribution in Lancaster County, Pennsylvania
Citizen Population in Lancaster County, Pennsylvania (2022)
Political Trends & Data
In Lancaster County, Pennsylvania, the 2020 U.S. Presidential Election results showed a strong Republican preference, as nearly 57% of the votes went to the GOP. Democrats garnered just over 41%, with Libertarians capturing around 1.5%. This Republican lean could hint at broader conservative influences in local policies, potentially affecting real estate, taxation, and community development trends. Yet the notable Democratic support indicates a balanced, albeit right-leaning, political climate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lancaster County in Pennsylvania showed a preference for the Republican party in the 2020 U.S. Presidential Election, with nearly 57% of the votes. Democrats trailed behind with just over 41%, while Libertarians captured around 1.5%. This suggests that Lancaster leans predominantly Republican, though there is still notable support for Democrats.
57.17% of voters voted for the Republican party in the 2020 Presidential Election
41.34% of voters voted for the Democrat party in the 2020 Presidential Election
1.49% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Lancaster County, Pennsylvania has experienced a gradual decline in its student-to-teacher ratio, moving from just under 15 in 2014 to about 13 in 2023. This trend towards smaller class sizes could be especially attractive to families focused on education quality. With the current ratio lower than the national average of 14, the area may offer more individualized attention for students, potentially boosting property values and community desirability. This shift is noteworthy for educators,... Read more
Student-to-teacher ratio in Lancaster County, Pennsylvania over the last 10 years
Over the last decade, Lancaster County, Pennsylvania has seen a gradual decline in its student-to-teacher ratio, from just under 15 in 2014 to about 13 in 2023. Although the ratio has slightly fluctuated, the overall trend points to smaller class sizes. This could potentially make the area more appealing for families prioritizing education quality. The current ratio of around 13 is lower than the national average of 14, suggesting more individualized attention for students in Lancaster County compared to other parts of the United States. This trend could be of notable interest to educators, property investors, real estate agents, and insurance agents, as better perceived educational outcomes often enhance property values and community desirability.
