Lancaster County Real Estate and Livability Trends
Lancaster County, South Carolina, has seen a notable rise in median home values, climbing from $150,200 in 2015 to $272,100 in 2022, outpacing both state and national averages. Average taxable income per tax return also jumped from $52,113.42 in 2013 to $78,963.64 in 2021, hinting at an improving economic environment. Meanwhile, the average residential energy tax credit per tax return surged from... Read more
Lancaster County Market Trends
Lancaster County, South Carolina has seen a considerable uptick in median home values, climbing from $150,200 in 2015 to $272,100 in 2022, outpacing both state and national averages. Additionally, the average residential energy tax credit per tax return has skyrocketed from $272.13 in 2013 to $2,125.37 in 2021, possibly reflecting a burgeoning interest in energy-efficient home improvements or... Read more
Median Value of Occupied Housing Units in Lancaster County, South Carolina Over the Last 8 Years
Over the past eight years, Lancaster County, South Carolina has shown a significant increase in median home values, jumping from $150,200 in 2015 to $272,100 in 2022. This growth outpaces both South Carolina, which saw an increase from $139,900 to $216,200, and the national trend, where median values rose from $125,500 to $179,400. For investors and potential homeowners, this could indicate a high demand and a healthy investment environment in Lancaster County compared to broader trends.
Residential Energy Tax Credit Per Tax Return in Lancaster County, SC Over the Last 9 Years
Lancaster County, South Carolina saw a striking increase in the average residential energy tax credit per tax return over the last nine years, soaring from about $272.13 in 2013 to approximately $2,125.37 by 2021. This surge could signify a growing investment in energy-efficient home improvements or solar installations, making it potentially appealing for property investors, appraisers, and real estate agents. For potential homeowners and builders, this trend might signal enhanced energy-saving opportunities and possible reductions in long-term utility costs. Insurance agents might also find this data useful for assessing risk and premium settings related to energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Lancaster County, SC Over the Last 10 Years
Lancaster County, South Carolina has seen a significant rise in average real estate taxes per tax return over the past decade, growing from approximately $1,794.06 in 2012 to around $3,467.29 in 2021. Noteworthy spikes occurred between 2017 and 2018, and again from 2019 to 2021, indicating a robust property market and potentially increased property values. This trend is relevant for investors, real estate agents, and property developers as it signals a dynamic and evolving market landscape, and for appraisers and insurance agents, it underscores the need to adjust valuations and premiums accordingly.
Percentage of Farm Returns in Lancaster County, SC Over the Last 10 Years
Over the past decade, Lancaster County, South Carolina has seen a gradual decline in the percentage of farm tax returns, dropping from approximately 1.28% in 2012 to about 0.83% in 2021. This trend might suggest that fewer farms are being reported for tax purposes, potentially indicating a shift away from agricultural activities in the area. For those considering investing, moving, or building property in Lancaster County, this could imply a shift in the local economy and land use, possibly prioritizing residential or commercial development over agricultural land.
Number of Mortgages by Occupancy Type in Lancaster County, SC Over the Last 5 Years in Lancaster County
Lancaster County, South Carolina has seen fluctuating trends in mortgage numbers across different occupancy types over the past five years. Principal residences have consistently dominated with significant counts, peaking at nearly 11,000 in 2021. Investment properties have a smaller but notable share, with a slight peak in 2021 but decreasing since. Mortgages for second residences are relatively minimal. Investors and developers might find the principal residence market most attractive due to its high activity, while the shrinking investment property mortgages might indicate shifting investor preferences or market challenges. These insights are valuable for shaping strategies around demand forecasting, property valuation, and risk assessment in this area.
Economic Outlook
Lancaster County, South Carolina has shown a steady rise in average taxable income per tax return, climbing from $52,113.42 in 2013 to $78,963.64 by 2021. This suggests an improving economic environment, potentially making the area attractive for real estate investors. Meanwhile, state and local income taxes per tax return have also seen a noticeable increase, from $5,828.76 in 2012 to approximately $10,187.19 in 2021, suggesting either a rising income base or shifts in tax policies. These... Read more
Average Taxable Income per Tax Return in Lancaster County, SC over the last 9 years
Lancaster County, South Carolina has seen a consistent increase in average taxable income per tax return over the past nine years. Starting at $52,113.42 in 2013, it significantly climbed to $78,963.64 by 2021. This steady growth suggests an improving economic environment, potentially making this area attractive for investors and real estate developers. The rising incomes could indicate a more affluent community, possibly driving higher property values and influencing insurance rates. For those looking to move or build property, this trend might point to a promising return on investment and a thriving local economy.
Average State and Local Income Taxes Per Tax Return in Lancaster County, SC Over the Last 10 Years
The average state and local income taxes per tax return in Lancaster County, South Carolina, have shown a noticeable upward trend over the past decade, starting from approximately $5,828.76 in 2012 and reaching around $10,187.19 in 2021. Particularly significant jumps can be observed between 2017 and 2018, as well as from 2019 to 2020. This trend may imply a rising income base or changes in local tax policies, which could impact investment decisions, property appraisals, and real estate pricing in the area. Understanding these fiscal dynamics is essential for those considering a move to, investing in, or working within Lancaster County.
Average Total Tax Liability Per Tax Return in Lancaster County, SC Over the Last 10 Years
Average total tax liability per tax return in Lancaster County, South Carolina has experienced noticeable growth over the last decade, with a steep increase from $7,335.75 in 2012 to $12,169.65 in 2021. This upward trend could suggest a rise in local income levels or changes in tax policies affecting residents. For potential investors and real estate agents, this may indicate a burgeoning economic landscape. For those planning to move, build property, or for insurance agents and appraisers assessing the area, understanding these shifts is crucial given the potential impact on cost of living and property values.
Cost of Living in Lancaster County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,212 | $1,472 | $1,945 | $1,101 | $1,157 |
| 1 adult 4 children | $1,212 | $1,202 | $1,488 | $1,101 | $1,275 |
| 2 adults 3 children | $1,212 | $1,202 | $1,688 | $1,101 | $930 |
| 1 adult 3 children | $1,212 | $982 | $1,230 | $1,101 | $1,021 |
| 2 adults 2 children | $912 | $984 | $1,430 | $967 | $773 |
| 1 adult 2 children | $912 | $735 | $973 | $967 | $702 |
| 2 adults 1 child | $912 | $778 | $1,173 | $532 | $721 |
| 1 adult 1 child | $912 | $502 | $715 | $532 | $603 |
| 2 adults | $693 | $625 | $915 | $0 | $613 |
| 1 adult | $688 | $341 | $458 | $0 | $561 |
Safety trends & Data
Lancaster County, South Carolina, has experienced dynamic property crime trends over the past five years, influencing real estate and insurance sectors. Larceny-Theft peaked at 479 cases in 2019 but decreased to 307 in 2022. Burglary also dropped from 117 arrests in 2019 to 84 in 2022. Motor Vehicle Theft saw a significant decline from 32 cases in 2021 to 11 in 2022. Varying rates in Fraud and Vandalism alongside lower, stable numbers for Arson and Embezzlement suggest shifting risks that... Read more
Property Crime Trends in Lancaster County, SC Over the Last 5 Years
In Lancaster County, South Carolina, the property crime landscape over the past five years appears to be notably dynamic. Larceny-Theft consistently tops the charts, but while it reached a high of 479 cases in 2019, it has since seen a gradual decline, landing at 307 cases in 2022. Burglary has also fluctuated, peaking at 117 arrests in 2019 before falling to 84 arrests in 2022. Motor Vehicle Theft, while less frequent, experienced highs and lows, notably dropping to 11 cases in 2022 from 32 in 2021. Categories like Fraud and Vandalism show moderate yet varying rates, while less frequent crimes like Arson and Embezzlement maintain lower, more stable numbers. For investors, residents, and professionals in real estate and insurance, these trends emphasize a shifting risk landscape, suggesting a need for continual monitoring and adaptive strategies.
Demographics
Lancaster County, South Carolina presents a marginal gender balance with a slight majority of females. The age distribution indicates a prominent working-age population from 25 to 64 years old while educational attainment reflects a consistent number of high school graduates. Racial demographics show a predominantly White community accompanied by a significant Black or African American population and smaller groups of Asians and other... Read more
Race Distribution in Lancaster County, South Carolina (2022)
Educational Attainment in Lancaster County, South Carolina (2022)
Age Distribution in Lancaster County, South Carolina
Citizen Population in Lancaster County, South Carolina (2022)
Political Trends & Data
Lancaster County in South Carolina leans heavily conservative, with around 61% of the vote in the 2020 U.S. Presidential Election possibly going to the Republican Party. The Democratic Party seemed to garner roughly 38%, while third-party candidates struggled, capturing under 1% of the vote. This trend may indicate a dominant Republican preference, with limited support for alternative political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lancaster County in South Carolina showed a notable preference for the Republican Party in the 2020 U.S. Presidential Election, with around 61% of the vote potentially going to the GOP. The Democratic Party seemed to garner roughly 38%, highlighting a significant but smaller base of support. Third-party candidates, including Libertarians and Greens, appear to have attracted very minimal votes, with percentages hovering under 1%. This trend might suggest that Lancaster County leans heavily conservative, with limited traction for alternative political voices.
60.78% of voters voted for the Republican party in the 2020 Presidential Election
37.97% of voters voted for the Democrat party in the 2020 Presidential Election
0.99% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Green party in the 2020 Presidential Election
0.07% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lancaster County, South Carolina has shown a consistent decrease in the student-to-teacher ratio over the past decade, shifting from around 16 students per teacher in 2014 to about 14 per teacher by 2023. This improvement in educational resources could appeal to families, potentially driving demand for housing and enhancing property values. Real estate agents, appraisers, and insurance agents might consider this trend as a positive indicator for the area's attractiveness and... Read more
Student-to-teacher ratio in Lancaster County, South Carolina over the last 10 years
Lancaster County, South Carolina has experienced a decreasing trend in the student-to-teacher ratio over the last decade, starting from about sixteen students per teacher in 2014 and dropping to approximately fourteen students per teacher by 2023. This trend brings the county closer to the current national average of fourteen students per teacher. For potential investors, real estate agents, or those considering relocation, this suggests an improvement in educational resources over time, which often correlates with better educational outcomes and could make the area more attractive for families. Appraisers and insurance agents may also see these changes as indicative of rising property values and potentially lower risk profiles for the region.
