Lipscomb County Real Estate and Livability Trends
Lipscomb County, Texas showcases a real estate market with intriguing trends. Median home values rose from $93,000 in 2015 to $119,800 in 2022, highlighting a more affordable entry point compared to the Texas median of $238,000. The number of mortgages for principal residences increased from 44 in 2018 to 64 in 2021, hinting at market growth potential. Meanwhile, a consistently low... Read more
Lipscomb County Market Trends
Lipscomb County, Texas, has seen its median home values rise from $93,000 in 2015 to $119,800 in 2022, still lagging behind the Texas median of $238,000 and the national median of $179,400. This affordability might entice investors or homebuyers seeking lower entry points. Energy tax credits dropped from $300.00 in 2013 to $233.33 in 2014, pointing to possible changes in energy-efficient home... Read more
Median Value of Occupied Housing Units in Lipscomb County, Texas Over the Last 8 Years
Lipscomb County, Texas, has seen its median home values grow substantially over the past eight years, with a notable rise from $93,000 in 2015 to $119,800 in 2022. Although this upward trend mirrors the growth in Texas and the nation, Lipscomb County's values lag behind, with the state's median hitting $238,000 and the national median reaching $179,400 in 2022. This lower median value suggests Lipscomb County might appeal to investors or homebuyers seeking more affordable options within Texas, potentially offering lower entry points and opportunities for value appreciation in a less saturated market.
Residential Energy Tax Credit Per Tax Return in Lipscomb County, TX Over the Last 2 Years
In Lipscomb County, Texas, the average residential energy tax credit per tax return has seen a notable decrease over the past two years. In 2013, residents claimed an average of $300.00 in energy tax credits per return, which dropped to approximately $233.33 in 2014. This trend could suggest a shift in either the availability or utilization of energy-efficient home improvements, possibly impacting the residential energy sector's attractiveness for investors and homeowners looking to enhance property value sustainably. For real estate agents and appraisers, this decline might signal evolving market conditions that could influence property assessments and sales strategies.
Average Real Estate Taxes Per Tax Return in Lipscomb County, TX Over the Last 10 Years
Real estate taxes per tax return in Lipscomb County, Texas have seen notable fluctuations over the past decade, notably increasing from $1,911.11 in 2012 to $4,766.67 in 2021. This surge suggests a significant rise in property values or tax rates, which could impact investors and homebuyers considering the area. The peak at $3,500.00 in 2018 followed by a brief dip in 2019 and resurgence indicates potential volatility, a key consideration for those assessing long-term financial implications. Real estate professionals and appraisers might find these trends revealing for market analysis and future projections.
Percentage of Farm Returns in Lipscomb County, TX Over the Last 10 Years
Farm returns in Lipscomb County, Texas have shown a modest but noticeable fluctuation over the past decade, oscillating between approximately 16.88% and 18.79%. These percentages signify the proportion of total filed tax returns that are identified as farm returns. This trend suggests a relatively stable agrarian presence in the county, which could be a vital metric for prospective agricultural investors or individuals considering rural property. Diversification in the tax returns points towards a sustained agricultural activity in the county, potentially ensuring long-term viability for farming enterprises and supporting ancillary agricultural industries.
Number of Mortgages by Occupancy Type in Lipscomb County, TX Over the Last 5 Years in Lipscomb County
Investment property mortgages in Lipscomb County, Texas have shown minor fluctuations from 3 to 6 over five years, while principal residence mortgages have steadily climbed from 44 in 2018 to 64 in 2021. Second residence mortgages were minimal, appearing only in 2019 and 2020. Changes in the occupancy type distribution could affect local market dynamics, influencing property values, rental markets, and community investment profiles. Investors may find the stable yet growing market for principal residences enticing, while the relatively low investment property count suggests potential for new opportunities. For real estate agents, appraisers, and insurance agents, understanding these trends is crucial for gauging market health and advising clients accurately.
Economic Outlook
Lipscomb County, Texas has seen significant fluctuations in average taxable income, state and local income taxes, and total tax liability per tax return over the past decade. After peaking at $80,423.53 in 2014, average taxable income dropped to $47,730.50 in 2016 before rebounding to $65,131.75 in 2021. Such volatility indicates a somewhat unstable economic landscape, which might influence financial planning and investment strategies. Notably, local income taxes saw a drop from $5,900.00 in... Read more
Average Taxable Income per Tax Return in Lipscomb County, TX over the last 9 years
Over the past nine years, Lipscomb County, Texas has seen notable fluctuations in average taxable income per tax return. After a high of $80,423.53 in 2014, there was a significant dip to $47,730.50 in 2016. Income levels have slowly rebounded since then, hitting $65,131.75 in 2021. These trends suggest a somewhat volatile economic landscape that potential investors and real estate professionals might tread with caution, while indicating opportunities for those looking for adjustable income evaluations and tax strategies over time.
Average State and Local Income Taxes Per Tax Return in Lipscomb County, TX Over the Last 6 Years
Lipscomb County, Texas has seen notable fluctuations in average state and local income taxes over the past six years. Tax returns saw a significant drop from $5,900.00 in 2012 to $4,320.00 in 2013, then experienced a sharp increase to $6,440.00 in 2014. The average held relatively steady the next year but plummeted to $2,533.33 in 2016 before climbing back to $4,350.00 in 2017. This volatility could potentially impact decisions for financial planning, appraisals, and investments as it suggests variable fiscal pressure on residents.
Average Total Tax Liability Per Tax Return in Lipscomb County, TX Over the Last 10 Years
Lipscomb County, Texas, has experienced notable fluctuations in average total tax liability per tax return over the past decade, reaching a high of $18,584.17 in 2014 and a low of $8,877.55 in 2016. Such volatility could suggest shifts in the local economy or changes in tax policy that might impact investment strategies. For potential homeowners or real estate investors, these trends could indicate varying fiscal pressures over the years, influencing both short-term and long-term financial planning.
Cost of Living in Lipscomb County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,059 | $1,359 | $1,948 | $1,242 | $924 |
| 1 adult 4 children | $1,059 | $1,110 | $1,491 | $1,242 | $1,038 |
| 2 adults 3 children | $1,059 | $1,110 | $1,689 | $1,242 | $746 |
| 1 adult 3 children | $1,059 | $907 | $1,232 | $1,242 | $820 |
| 2 adults 2 children | $862 | $909 | $1,431 | $1,084 | $676 |
| 1 adult 2 children | $862 | $679 | $974 | $1,084 | $644 |
| 2 adults 1 child | $862 | $718 | $1,173 | $572 | $658 |
| 1 adult 1 child | $862 | $464 | $715 | $572 | $552 |
| 2 adults | $686 | $577 | $914 | $0 | $578 |
| 1 adult | $650 | $315 | $457 | $0 | $483 |
Safety trends & Data
Lipscomb County, Texas, has seen a significant decline in property crimes over the past five years, with larceny-theft incidents dropping sharply from six in 2018 to just one per year from 2019 onwards, and motor vehicle theft non-recurring after 2018. This safer environment may make the area more appealing to potential home buyers and investors looking for stable... Read more
Property Crime Trends in Lipscomb County, TX Over the Last 5 Years
Lipscomb County, Texas, has seen a significant decline in property crimes over the past five years. Notably, larceny-theft incidents dropped sharply from six in 2018 to just one per year from 2019 onwards. Similarly, motor vehicle theft appears to be non-recurring after 2018. This trend could suggest improved security measures or changes in local socio-economic conditions, which might be attractive for potential home buyers and investors eyeing stable, safer communities.
Demographics
Lipscomb County, Texas shows a slightly higher female population compared to males. The educational attainment data suggests a significant portion of residents have completed high school or have some college experience, though fewer hold advanced degrees. Age distribution reveals a balanced spread across various age groups, with noticeable proportions in both the younger and older cohorts. In terms of race, the county is predominantly White, with smaller representation from other racial groups,... Read more
Race Distribution in Lipscomb County, Texas (2022)
Educational Attainment in Lipscomb County, Texas (2022)
Age Distribution in Lipscomb County, Texas
Citizen Population in Lipscomb County, Texas (2022)
Political Trends & Data
Lipscomb County in Texas tilted heavily Republican in the 2020 U.S. Presidential Election, capturing nearly 89% of the votes. Democrats trailed significantly at just under 10%, with Libertarians only drawing around 1.3%. The negligible votes for other parties suggest a solidified preference for traditional major parties and could reflect a notable conservative base in this rural area. This trend might underscore broader political inclinations within similar... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lipscomb County in Texas saw a notable lean towards the Republican party in the 2020 U.S. Presidential Election, with nearly 89% of the votes. Democrats lagged significantly with just under 10%, while Libertarians barely registered at around 1.3%. The absence of votes for the Green party and other candidates suggests a consolidated preference for traditional major parties. This trend might indicate a strong conservative base in Lipscomb County, reflecting broader political inclinations within certain rural areas.
89.06% of voters voted for the Republican party in the 2020 Presidential Election
9.68% of voters voted for the Democrat party in the 2020 Presidential Election
1.26% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Lipscomb County, Texas has maintained a notably low student-to-teacher ratio over the past decade, generally ranging from 8 to 9 students per teacher, compared to the national average of 14. This can suggest more personalized attention and potentially better educational outcomes, which might make the area appealing to families and investors. Real estate agents might highlight this as a selling point, while appraisers and insurance agents could consider the community's commitment to smaller... Read more
Student-to-teacher ratio in Lipscomb County, Texas over the last 10 years
Lipscomb County, Texas has maintained a notably low student-to-teacher ratio over the past decade, with values generally ranging between 8 and 9 students per teacher. This is well below the national average of 14 students per teacher, which might suggest more personalized attention and potentially better educational outcomes for students. For those considering moving to or investing in the area, these figures can be particularly appealing, indicating a community potentially invested in quality education. Real estate agents might highlight this as a unique selling point, while appraisers and insurance agents could factor in the community's commitment to smaller class sizes when evaluating property values and risks.
