Lamb County Real Estate and Livability Trends
In Lamb County, Texas, the average taxable income per tax return rose from $35,768.55 in 2013 to $49,607.36 by 2021, suggesting a stronger local economy. Median home values peaked at $79,300 in 2022, remaining affordable compared to state and national averages, while real estate taxes per return have nearly doubled over the past decade, likely affecting property appraisals and insurance premiums.... Read more
Lamb County Market Trends
Lamb County, Texas has seen its median home values peak at $79,300 in 2022, offering a more affordable option compared to state and national averages. Residential energy tax credits have rebounded since 2016, hitting $650.00 by 2021, reflecting a potential increase in energy-efficient home improvements. Real estate taxes per return have nearly doubled in the past decade, which could affect... Read more
Median Value of Occupied Housing Units in Lamb County, Texas Over the Last 8 Years
Over the past 8 years, Lamb County, Texas has experienced fluctuations in median home values, culminating at $79,300 in 2022. This growth might appear modest compared to state and national trends, with Texas reaching $238,000 and the national average climbing to $179,400 by 2022. Prospective investors and homebuyers may find Lamb County an appealing, more affordable option within the state while still offering appreciation potential.
Residential Energy Tax Credit Per Tax Return in Lamb County, TX Over the Last 7 Years
Lamb County, Texas has experienced fluctuations in residential energy tax credits per tax return over the past seven years. After a decline from $312.50 in 2013 to $242.86 in 2016, there was a notable uptick starting in 2017, peaking at $650.00 in 2021. Such trends could hint at increasing investments in energy-efficient home improvements or possibly incentivizing policies, making it a promising area for real estate investment and development with a focus on sustainability. Potential investors, homeowners, and real estate agents should watch these evolving incentives as they might signal broader economic opportunities or savings on long-term energy costs.
Average Real Estate Taxes Per Tax Return in Lamb County, TX Over the Last 10 Years
Lamb County, Texas has seen a notable increase in average real estate taxes per tax return over the past decade, rising from approximately $2,373.68 in 2012 to around $4,485.71 in 2021. This nearly doubling of tax amounts signals a trend that may impact decisions for potential investors, homeowners, and real estate professionals considering the area. The significant jump between 2018 and 2019, when taxes surged from $3,237.50 to $4,210.00, is especially noteworthy and suggests a shift that could influence everything from property appraisals to insurance premiums.
Percentage of Farm Returns in Lamb County, TX Over the Last 10 Years
Over the past decade in Lamb County, Texas, the percentage of farm tax returns has experienced slight fluctuations. In 2012, it sat at approximately 7.76%, peaked to around 7.87% in 2015, and recently settled at about 6.37% by 2021. This indicates a marginal but steady decline, which could be significant for those gauging agricultural investment opportunities or considering agricultural property development in the area. Farm tax returns often reflect the economic health and stability of the farming community, and understanding these trends can inform decisions on local investments and residential movements.
Number of Mortgages by Occupancy Type in Lamb County, TX Over the Last 5 Years in Lamb County
Lamb County, Texas has seen shifts in mortgage patterns over the last five years, with the majority focused on principal residences, peaking at 335 in 2021. Investment property mortgages have fluctuated but remained relatively stable compared to second residence loans, which are notably lower. Changes in occupancy types can impact local housing markets, property values, and insurance premiums. For investors, an increase in principal residences might signal a stable, growing community, whereas consistent investment property mortgages suggest lingering market confidence. Real estate agents and appraisers could leverage these trends to better assess property values, while insurance agents might consider the risk profiles associated with shifts in occupancy types.
Economic Outlook
In Lamb County, Texas, the average taxable income per tax return has steadily climbed from about $35,768.55 in 2013 to roughly $49,607.36 by 2021, hinting at a stronger local economy or higher earning potential over time. Key increases between 2014-2015 and 2019-2020 may suggest significant economic shifts. Though average total tax liabilities per tax return have fluctuated, peaks in 2015 ($6611.17) and 2020 ($7814.33) likely point to changes in income levels, property values, or tax... Read more
Average Taxable Income per Tax Return in Lamb County, TX over the last 9 years
In Lamb County, Texas, the average taxable income per tax return has generally increased over the last nine years, starting at roughly $35,768.55 in 2013 and reaching about $49,607.36 by 2021. This upward trend may suggest a strengthening local economy or increased earning potential for residents, making it a potentially attractive area for investors, real estate professionals, and insurance agents. Notable jumps in average taxable income happened from 2014 to 2015 and between 2019 and 2020, which could indicate periods of significant economic change. Understanding these trends is key for anyone looking to move to, build property in, or simply gauge the economic landscape of Lamb County.
Average Total Tax Liability Per Tax Return in Lamb County, TX Over the Last 10 Years
Lamb County, Texas has seen fluctuating average total tax liabilities per tax return over the past decade, with notable peaks in 2015 ($6611.17) and 2020 ($7814.33). Although there have been some declines, such as in 2014 ($6268.75) and 2019 ($6051.86), the overall pattern suggests a rising trend, possibly reflecting changes in income levels, property values, or tax policies. For investors and real estate stakeholders, understanding these tax liability trends could inform decisions related to property investments and development strategies in the area.
Cost of Living in Lamb County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,110 | $1,311 | $2,079 | $1,199 | $873 |
| 1 adult 4 children | $1,110 | $1,071 | $1,592 | $1,199 | $964 |
| 2 adults 3 children | $1,110 | $1,071 | $1,803 | $1,199 | $697 |
| 1 adult 3 children | $1,110 | $874 | $1,316 | $1,199 | $722 |
| 2 adults 2 children | $826 | $877 | $1,527 | $1,046 | $598 |
| 1 adult 2 children | $826 | $655 | $1,040 | $1,046 | $538 |
| 2 adults 1 child | $826 | $693 | $1,250 | $548 | $586 |
| 1 adult 1 child | $826 | $448 | $763 | $548 | $481 |
| 2 adults | $628 | $557 | $974 | $0 | $510 |
| 1 adult | $623 | $304 | $487 | $0 | $448 |
Safety trends & Data
Lamb County, Texas, has seen fluctuating property crime rates over the past five years, which might affect real estate market dynamics. Burglary peaked at 8 incidents in 2020, while larceny-theft hit 11 incidents in 2019. Motor vehicle thefts, although generally low, slightly surged with 6 cases in 2021. Minimal incidents of arson and vandalism, typically around 1 per year, could still impact property investments, insurance premiums, and market... Read more
Property Crime Trends in Lamb County, TX Over the Last 5 Years
Over the past five years, Lamb County, Texas has experienced fluctuating property crime rates. Between 2018 and 2020, burglary and larceny-theft saw sporadic increases, with burglary peaking at 8 incidents in 2020 and larceny-theft at 11 incidents in 2019. Motor vehicle thefts remained relatively low but had a slight surge in 2021 with 6 reported cases. The presence of crimes like arson and vandalism was minimal, generally recording 1 incident per year. These trends could indicate shifting crime patterns and may influence property investments, insurance premiums, and real estate market strategies.
Demographics
Lamb County, Texas, shows a fairly balanced gender distribution with a slight female majority. The population skews slightly older, with notable numbers in the 55-64 age range, possibly indicating a stable, aging population. Educational attainment varies, but the majority have a high school diploma or higher, suggesting a moderately educated workforce. The racial composition is predominantly White, with other racial groups present in smaller numbers, reflecting a less diverse demographic... Read more
Race Distribution in Lamb County, Texas (2022)
Educational Attainment in Lamb County, Texas (2022)
Age Distribution in Lamb County, Texas
Citizen Population in Lamb County, Texas (2022)
Political Trends & Data
Lamb County, Texas, shows a marked preference for the Republican Party, with around 80% of the 2020 U.S. Presidential Election votes aligning with Republican candidates, and nearly 19% going to the Democratic Party. Minor parties like the Libertarian and Green Parties had a negligible presence, attracting fewer than 1% of the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lamb County, Texas, appears to lean heavily Republican, as reflected in the 2020 U.S. Presidential Election results. Around 80% of votes went to the Republican Party, while the Democratic Party captured nearly 19%. Minor parties such as Libertarian and Green had minimal impact, garnering less than 1% of the vote each.
79.84% of voters voted for the Republican party in the 2020 Presidential Election
19.05% of voters voted for the Democrat party in the 2020 Presidential Election
0.91% of voters voted for the Livertarian party in the 2020 Presidential Election
0.16% of voters voted for the Green party in the 2020 Presidential Election
0.05% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lamb County, Texas has consistently maintained a student-to-teacher ratio below the national average, fluctuating around 11 students per teacher over the last decade. This lower ratio suggests more personalized attention in schools, which could positively influence property values. Families prioritizing education might find this appealing, potentially making the area more attractive to real estate investors and families... Read more
Student-to-teacher ratio in Lamb County, Texas over the last 10 years
Over the past decade, Lamb County, Texas has seen its student-to-teacher ratio fluctuate around 11 students per teacher, peaking at 12 in 2015 and gradually decreasing to just under 11 in 2022. Compared to the national average of 14 students per teacher, Lamb County generally offers smaller class sizes. This lower ratio could be appealing for families seeking more individualized attention for their children, and might affect property values positively. Investors, appraisers, real estate agents, and insurance agents might find this ratio indicative of a community prioritizing education, potentially increasing the area's appeal.
