Lake County Real Estate and Livability Trends
Lake County, Tennessee has seen the average taxable income per tax return rise from $34,616.43 in 2013 to $45,019.51 by 2021, potentially indicating economic growth and higher job earnings. Median home values also surged, from $71,600 in 2015 to $111,900 in 2022, reflecting growing demand but remaining more affordable than the state average. The student-to-teacher ratio consistently hovers... Read more
Lake County Market Trends
Lake County, Tennessee has seen a sharp rise in median home values, climbing from $71,600 in 2015 to $111,900 in 2022, signaling growing demand. Despite this uptick, it's still more affordable compared to the state of Tennessee, where values soared from $142,100 to $232,100. Real estate taxes have fluctuated, dipping to $1,154.55 in 2014 and climbing back to $1,500.00 by 2019, highlighting... Read more
Median Value of Occupied Housing Units in Lake County, Tennessee Over the Last 8 Years
Lake County, Tennessee has experienced a consistent increase in median home values over the past eight years, a sign of growing demand and possibly limited supply. The county's median home value rose from $71,600 in 2015 to $111,900 in 2022, a significant climb that could attract investors. Compared to the state of Tennessee, where median values went from $142,100 to $232,100 in the same period, Lake County remains more affordable but is catching up at a rapid pace. Nationally, the median home value moved from $125,500 to $179,400, making Lake County an increasingly attractive option for those seeking lower-cost investments while still appreciating value.
Average Real Estate Taxes Per Tax Return in Lake County, TN Over the Last 7 Years
Lake County, Tennessee has exhibited fluctuations in average real estate taxes per tax return over the past seven years. Notably, a decrease from $1,507.69 in 2012 to $1,154.55 in 2014, followed by a gradual incline, reaching $1,500.00 in 2019. This volatility may signal underlying economic changes or policy shifts, making it essential for potential investors and homeowners to consider these oscillations when appraising property values or assessing market stability.
Percentage of Farm Returns in Lake County, TN Over the Last 10 Years
Lake County, Tennessee has shown a fairly consistent but slight absolute increase in the percentage of farm tax returns over the past decade. Peaking at around 2.35% in 2013, the percentage generally fluctuated around the 2% mark, with the lowest at 1.39% in 2020. Farm tax returns essentially reflect the portion of income derived by residents from agricultural activities. This steady trend could suggest a relatively stable agricultural sector, hinting at both opportunities for investment in agriculture and a reliable agricultural community for potential property developers and new residents. For those interested in the locale, it might point to a modest but reliable rural economic component.
Number of Mortgages by Occupancy Type in Lake County, TN Over the Last 5 Years in Lake County
Analyzing the changes in the occupancy type of mortgages in Lake County, Tennessee over the last five years reveals notable trends. Principal residences dominate the market, with mortgage counts consistently higher each year compared to investment and second properties. For those eyeing investments, observing the dip in investment property mortgages in 2021 might indicate market preferences shifting or economic fluctuations influencing investor behavior. Such data can aid potential investors and real estate agents in assessing market demand and predicting future trends, helping inform decisions about where to allocate resources. Similarly, appraisers and insurance agents could leverage these insights for risk assessments and valuations.
Economic Outlook
Lake County, Tennessee, has seen the average taxable income per tax return rise from $34,616.43 in 2013 to $45,019.51 by 2021, indicating possible economic growth and higher job earnings. Similarly, the total tax liability per tax return has generally increased, peaking at $6,200.67 in 2021. These trends suggest an evolving financial landscape that could lead to rising property values, making the area potentially attractive for new investments and relocations. This financial uptrend may also... Read more
Average Taxable Income per Tax Return in Lake County, TN over the last 9 years
Lake County, Tennessee has shown a steady increase in average taxable income per tax return over the past nine years. Starting at $34,616.43 in 2013, the average income per return rose to $45,019.51 by 2021. This upward trend could indicate a growing economy and potentially higher job earnings, making the area possibly more attractive for new investments and relocation. For real estate agents and property appraisers, this increase may suggest a rise in property values. Insurance agents might find the growing income levels a factor in adjusting coverage options and premiums.
Average Total Tax Liability Per Tax Return in Lake County, TN Over the Last 10 Years
Lake County, Tennessee has witnessed a fluctuating but generally rising trend in average total tax liability per tax return over the past decade, peaking at $6,200.67 in 2021. This upward trajectory suggests an increase in either the income levels or the number of taxable events among residents, potentially signaling economic growth or a shift in the demographic profile. Noteworthy spikes, particularly in 2019 ($5,589.60) and the substantial leap in 2021, could reflect broader economic influences or local policy changes impacting tax liabilities. These trends are invaluable for investors, real estate professionals, and locals as they highlight the evolving financial landscape and may influence economic decisions in this region.
Cost of Living in Lake County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $956 | $1,399 | $1,867 | $969 | $669 |
| 1 adult 4 children | $956 | $1,143 | $1,428 | $969 | $680 |
| 2 adults 3 children | $956 | $1,143 | $1,620 | $969 | $507 |
| 1 adult 3 children | $956 | $933 | $1,181 | $969 | $481 |
| 2 adults 2 children | $747 | $936 | $1,372 | $858 | $472 |
| 1 adult 2 children | $747 | $699 | $933 | $858 | $389 |
| 2 adults 1 child | $747 | $740 | $1,125 | $500 | $494 |
| 1 adult 1 child | $747 | $478 | $686 | $500 | $394 |
| 2 adults | $617 | $594 | $877 | $0 | $455 |
| 1 adult | $609 | $324 | $439 | $0 | $399 |
Safety trends & Data
Lake County, Tennessee has experienced fluctuating property crime trends over the past five years, which could influence real estate decisions. Larceny-theft consistently leads in frequency, recording between 22.0 and 27.0 instances annually. Burglary, however, peaked at 14.0 instances in 2022. Motor vehicle theft rose sharply to 8.0 instances in 2020, yet generally hovered around 4.0-5.0 otherwise. Vandalism saw notable spikes in 2020 and 2022 with 15.0 and 14.0 incidents respectively. Fraud... Read more
Property Crime Trends in Lake County, TN Over the Last 5 Years
Lake County, Tennessee has seen varied property crime trends over the last five years. While larceny-theft consistently tops the list each year, hovering between 22.0 and 27.0 instances, burglary has fluctuated more significantly, peaking at 14.0 instances in 2022. Notably, motor vehicle theft showed a concerning rise in 2020 at 8.0 instances but generally remained around 4.0-5.0 in other years. Vandalism also showed some spikes, particularly high in 2020 and 2022, with 15.0 and 14.0 incidents respectively. Fraud incidents saw a peak in 2019 with 10.0 instances but declined in subsequent years. These trends could influence real estate decisions, insurance rates, and investment opportunities in the area.
Demographics
Lake County, Tennessee sees a notable gender distribution with males almost doubling the number of females. The educational attainment reveals a significant portion of residents hold a high school diploma, though higher education degrees are less common. Age distribution shows a diverse range of age groups, with substantial representation in the 35 to 44-year bracket. Racially, the population is predominantly White, with a smaller but significant Black or African American... Read more
Race Distribution in Lake County, Tennessee (2022)
Educational Attainment in Lake County, Tennessee (2022)
Age Distribution in Lake County, Tennessee
Citizen Population in Lake County, Tennessee (2022)
Political Trends & Data
Lake County, Tennessee, has a pronounced conservative leaning, with about 73% of the 2020 U.S. Presidential votes possibly going to the Republican candidate. The Democratic candidate captured nearly 26% of the vote, while minor parties like Libertarian and Green were negligible, collectively making up less than 1%. This political landscape might influence local real estate trends, as conservative areas often have different development priorities and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lake County, Tennessee, saw a strong Republican presence in the 2020 U.S. Presidential Election, with approximately 73% of the votes potentially going to the Republican candidate. In contrast, the Democratic side garnered almost 26% of the votes. Other parties like Libertarian and Green were virtually non-existent, making under one percent of the overall vote tally combined. This trend suggests a significant lean towards conservative politics in the area.
73.35% of voters voted for the Republican party in the 2020 Presidential Election
25.86% of voters voted for the Democrat party in the 2020 Presidential Election
0.79% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lake County, Tennessee, has typically maintained a student-to-teacher ratio of twelve to thirteen, below the national average of fourteen. This lower ratio might suggest better personalized attention for students, making it a potential draw for families. For real estate agents, this could be a compelling selling point, while investors and developers might see long-term property value enhancements in a community where education is seemingly prioritized. Insurance agents, appraisers, and other... Read more
Student-to-teacher ratio in Lake County, Tennessee over the last 10 years
Lake County, Tennessee has generally maintained a student-to-teacher ratio below the national average of fourteen over the past decade, typically hovering around twelve to thirteen students per teacher. This lower ratio suggests potentially more personalized attention for students compared to other areas. For families considering a move, this might imply higher quality education. For real estate agents, this trait can be a compelling selling point. Investors and developers might see opportunity in a community where education appears prioritized, possibly enhancing long-term property values and desirability. Insurance agents, appraisers, and other stakeholders should consider these dynamics when evaluating property risks and valuations in the area.
