Lycoming County Real Estate and Livability Trends
Lycoming County, Pennsylvania is showing promising economic growth, evidenced by a rise in average taxable income from $48,272.04 in 2013 to $64,241.78 in 2021. This trend likely appeals to investors and real estate developers, especially with median home values climbing from $138,500 in 2015 to $182,500 in 2022. Meanwhile, residential energy tax credits have increased, indicating a focus on... Read more
Lycoming County Market Trends
Lycoming County, Pennsylvania's real estate market has experienced median home values increasing from $138,500 in 2015 to $182,500 in 2022, reflecting a promising trend that largely aligns with state growth patterns. This steady appreciation could indicate solid economic conditions and future potential for property value gains. Additionally, the county has seen fluctuating but generally... Read more
Median Value of Occupied Housing Units in Lycoming County, Pennsylvania Over the Last 8 Years
Lycoming County, Pennsylvania saw median home values grow from $138,500 in 2015 to $182,500 in 2022, indicating a steady upward trend that outpaced the national average. While Pennsylvania’s median home values generally started higher than those in the county, increasing from $166,000 to $226,200 over the same period, it’s interesting to see that Lycoming County's growth was somewhat in line with the broader state trends. For those considering investments or relocation, witnessing such a consistent rise could suggest a solid economic environment and potential for further appreciation in property values.
Residential Energy Tax Credit Per Tax Return in Lycoming County, PA Over the Last 9 Years
Lycoming County, Pennsylvania has seen fluctuating but generally increasing values for the average residential energy tax credit per tax return over the past nine years. The largest spike occurred in 2018 at $2730.00, while prior years like 2013 saw more modest averages around $466.45. Post-2018, the credits consistently remained above $988.00, peaking again in 2021 at approximately $1443.82. These trends suggest a growing emphasis on energy efficiency investments, making it a potentially attractive area for buyers and investors interested in eco-friendly and cost-saving home improvements.
Average Real Estate Taxes Per Tax Return in Lycoming County, PA Over the Last 10 Years
Real estate taxes per tax return in Lycoming County, Pennsylvania have seen a notable increase over the past decade, starting from $3,111.58 in 2012 and peaking at $5,428.42 in 2020. This upward trend reflects a significant rise in property values or tax rates, making it essential for potential investors, homebuyers, and property builders to consider these factors in their financial planning. The spike from 2017 to 2018, where taxes jumped from $3,777.83 to $5,101.27, may indicate a reassessment or policy change. This is valuable information for real estate agents, appraisers, and insurance agents who need to accurately estimate future tax liabilities for their clients.
Percentage of Farm Returns in Lycoming County, PA Over the Last 10 Years
The percentage of farm tax returns in Lycoming County, Pennsylvania, has remained relatively stable, averaging around 1.46% to 1.53% over the past decade. These figures suggest a consistent interest in agricultural ventures, which may indicate a steady rural economy. Such stability could be appealing to investors and property developers looking to engage with a community that values its farming roots, potentially translating to steady tax revenues and a reliable market environment. This constancy in farm returns could point to economic resilience, benefiting current and prospective residents of Lycoming County.
Number of Mortgages by Occupancy Type in Lycoming County, PA Over the Last 5 Years in Lycoming County
Over the last five years in Lycoming County, Pennsylvania, the number of mortgages for principal residences saw a noticeable increase from 3,899 in 2018 to a high of 5,595 in 2021, before falling to 4,280 in 2022. Investment property mortgages remained relatively stable, fluctuating slightly between 314 and 390 each year. Second residences saw the least activity, peaking at 93 in 2021 and hovering around 53 to 74 for other years. Trends in occupancy types matter because they reflect the shifting demand and financial factors impacting your decision-making as an investor, potential resident, appraiser, or real estate agent. A surge in principal residence mortgages may indicate a stronger local economy or increased appeals for permanent settlement, while stable investment property numbers could suggest consistent rental market conditions. Lower volumes for second residences might hint at market constraints or lesser seasonal home appeal, which could affect pricing and insurance underwriting in the area.
Economic Outlook
Lycoming County, Pennsylvania has witnessed a consistent rise in average taxable income, from $48,272.04 in 2013 to $64,241.78 in 2021, hinting at an improving economic landscape that could appeal to investors, new residents, and real estate developers. The average state and local income taxes per tax return have also climbed, suggesting economic growth or tax policy shifts, reaching $10,148.35 in 2020. Meanwhile, average total tax liability has increased from $7,386.31 in 2012 to $9,742.52 in... Read more
Average Taxable Income per Tax Return in Lycoming County, PA over the last 9 years
Lycoming County, Pennsylvania has seen a general rise in average taxable income over the last nine years. Starting at $48,272.04 in 2013, the figure has gradually grown, reaching $64,241.78 by 2021. This trend suggests a steadily improving economic situation, which could be a positive indicator for those considering investment, relocation, or real estate development in the area. For appraisers and insurance agents, understanding this upward trajectory might inform better valuations and risk assessments.
Average State and Local Income Taxes Per Tax Return in Lycoming County, PA Over the Last 10 Years
Lycoming County, Pennsylvania has seen a noticeable increase in average state and local income taxes per tax return over the past decade. From $5,145.99 in 2012 to a peak of $10,148.35 in 2020, this upward trend could suggest economic growth or changes in tax policies affecting the area. For potential investors, real estate agents, and those looking to move to the county, understanding these tax dynamics is crucial for financial planning and investment decisions. While the significant rise might raise concerns for residents, it could also indicate enhanced public services or infrastructure improvements funded by these taxes.
Average Total Tax Liability Per Tax Return in Lycoming County, PA Over the Last 10 Years
Lycoming County, Pennsylvania has experienced a notable increase in average total tax liability per tax return over the past decade, rising from $7,386.31 in 2012 to $9,742.52 in 2021. This trend may suggest growing personal incomes or changes in tax policies affecting the area. Such information could be crucial for potential investors, appraisers, and real estate agents as it may indicate economic growth or shifts in the local economic environment.
Cost of Living in Lycoming County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,246 | $1,492 | $1,689 | $1,403 | $1,168 |
| 1 adult 4 children | $1,246 | $1,218 | $1,297 | $1,403 | $1,257 |
| 2 adults 3 children | $1,246 | $1,219 | $1,462 | $1,403 | $962 |
| 1 adult 3 children | $1,246 | $995 | $1,071 | $1,403 | $1,030 |
| 2 adults 2 children | $968 | $998 | $1,236 | $1,230 | $837 |
| 1 adult 2 children | $968 | $745 | $844 | $1,230 | $765 |
| 2 adults 1 child | $968 | $789 | $1,010 | $666 | $760 |
| 1 adult 1 child | $968 | $509 | $618 | $666 | $640 |
| 2 adults | $799 | $633 | $784 | $0 | $627 |
| 1 adult | $726 | $346 | $392 | $0 | $525 |
Safety trends & Data
In Lycoming County, Pennsylvania, property crimes have seen notable fluctuations over the past five years, with larceny-theft peaking at 375 incidents in 2019 before dropping to 107 in 2021 and rising again in 2022. Motor vehicle theft and vandalism also displayed peaks and dips, with vandalism hitting its highest at 84 incidents in 2018. While severe crimes like arson and embezzlement remained relatively low and stable, the variability in larceny and fraud indicates potential areas for... Read more
Property Crime Trends in Lycoming County, PA Over the Last 5 Years
Over the last five years, Lycoming County, Pennsylvania has seen a significant fluctuation in property crimes. Larceny-theft consistently remained the highest category, with numbers spiking in 2019 at 375.0 incidents but sharply dropping to 107.0 in 2021 before rising again in 2022. Meanwhile, types of crimes like motor vehicle theft and vandalism also showed peaks and troughs, with vandalism peaking in 2018 at 84.0 and falling in subsequent years. For potential investors and residents, the relatively stable and low numbers in severe crimes like arson and embezzlement might be reassuring, while the significant variations in larceny and fraud could suggest areas where community and security improvements are beneficial.
Demographics
Lycoming County, Pennsylvania, shows a relatively balanced gender distribution with slightly more females than males. Education levels reveal that high school graduates are the most significant group, while those holding a bachelor's or higher make up a smaller but valuable segment. Age-wise, there's a significant proportion of the population over 55, suggesting a potential growth in demand for senior services. The racial makeup is predominantly White, with other races forming a small fraction.... Read more
Race Distribution in Lycoming County, Pennsylvania (2022)
Educational Attainment in Lycoming County, Pennsylvania (2022)
Age Distribution in Lycoming County, Pennsylvania
Citizen Population in Lycoming County, Pennsylvania (2022)
Political Trends & Data
Lycoming County, Pennsylvania, potentially leans heavily Republican, reflected in the 2020 U.S. Presidential Election results, where nearly 70% of the votes went to the Republican candidate. Democrats managed just under 29%, with minor parties barely making a dent. The minimal impact of third parties suggests a strong two-party dominance in this region, which could be a significant factor for political campaigns and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lycoming County, Pennsylvania, seemed to lean heavily Republican in the 2020 U.S. Presidential Election, with nearly 70% of the votes. Democrats captured just under 29%, while Libertarians saw a minimal presence at around 1%. Votes for the Green Party or other parties were negligible or non-existent, highlighting a strong two-party preference in the county.
69.97% of voters voted for the Republican party in the 2020 Presidential Election
28.64% of voters voted for the Democrat party in the 2020 Presidential Election
1.39% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Over the past decade in Lycoming County, Pennsylvania, the student-to-teacher ratio has slightly decreased from 14 students per teacher in 2014 to about 13 in 2023. This subtle change might indicate improved educational support, potentially attractive to families considering relocation. Lower ratios can enhance property values and appeal to prospective buyers, signaling a commitment to quality education. For real estate professionals, this could mean a stable, family-friendly environment with... Read more
Student-to-teacher ratio in Lycoming County, Pennsylvania over the last 10 years
Over the past decade in Lycoming County, Pennsylvania, the student-to-teacher ratio has displayed slight fluctuations but generally trended downward, moving from 14 students per teacher in 2014 to approximately 13 in 2023. While this places the county near the current national average of 14 students per teacher, the recent decline might suggest improved educational support and potentially smaller class sizes, which could be an attractive factor for families considering relocation. For real estate agents, appraisers, and those looking to invest in the area, a lower student-to-teacher ratio could signal a commitment to quality education, possibly enhancing property values and appealing to prospective buyers. Additionally, insurance agents and property developers might find this trend indicative of a stable, family-friendly environment, offering various opportunities within the local market.
