Buncombe County Real Estate and Livability Trends
Buncombe County, North Carolina's real estate market is seeing significant growth, with average taxable income per tax return rising to $87,986.00 in 2021, reflecting a stronger local economy. Median home values surged from $192,400 in 2015 to $328,900 in 2022, surpassing state and national trends, possibly signaling a robust local housing market. State and local income taxes jumped to $15,120.56... Read more
Buncombe County Market Trends
Buncombe County's median home values have surged from $192,400 in 2015 to $328,900 in 2022, outpacing both North Carolina and national trends, potentially pointing to a strong local housing market. Residential energy tax credits peeked in 2018 at $4,340.82 per tax return, suggesting significant investments in energy-efficient improvements that year. Real estate taxes have steadily risen over the... Read more
Median Value of Occupied Housing Units in Buncombe County, North Carolina Over the Last 8 Years
Buncombe County's median home values have seen significant appreciation over the past eight years, outpacing both North Carolina and national trends. Starting at $192,400 in 2015 and rising to $328,900 by 2022, this marks a dramatic growth compared to the state's increase from $154,900 to $234,900 and the nation's jump from $125,500 to $179,400 over the same period. This might indicate robust local demand and a strong housing market, making Buncombe County an intriguing option for potential investors and homebuyers.
Residential Energy Tax Credit Per Tax Return in Buncombe County, NC Over the Last 9 Years
Residential energy tax credits in Buncombe County, North Carolina have shown significant fluctuations over the past nine years. Average credits peaked dramatically in 2018 at $4340.82 per tax return, which suggests a surge in investment in energy-efficient home improvements or renewable energy systems for that year. The preceding and subsequent years also saw noteworthy averages with $2476.76 in 2019 and $2241.90 in 2020, indicating sustained interest in energy-saving measures among residents. Such trends could be of interest to real estate agents, investors, and homeowners aiming to benefit from energy incentives and potentially lower utility costs.
Average Real Estate Taxes Per Tax Return in Buncombe County, NC Over the Last 10 Years
Over the past decade, Buncombe County, North Carolina has seen a notable increase in average real estate taxes per tax return. From $2,596.91 in 2012, the taxes have steadily climbed to $5,013.52 by 2021. This upward trend could be indicative of rising property values and might impact potential investors and homeowners considering the area. Such data can be insightful for appraisers, insurance agents, and real estate professionals, as it suggests increasing local property market values and potentially higher living costs.
Percentage of Farm Returns in Buncombe County, NC Over the Last 10 Years
Farm tax returns in Buncombe County, North Carolina, have experienced a general decline over the past decade, starting at roughly 0.94% in 2012 and decreasing to about 0.74% by 2021. These returns are typically filed by farming businesses for property tax reductions or exemptions. The downward trend may hint at either a reduction in farming activity or a shift in economic focus, which could interest potential investors or those considering moving to the area. Real estate developers and prospective residents should keep an eye on this trend, as it might reflect broader economic shifts within the county.
Number of Mortgages by Occupancy Type in Buncombe County, NC Over the Last 5 Years in Buncombe County
The mortgage data over the past five years in Buncombe County, North Carolina reveals a generally higher demand for principal residences, which have consistently outnumbered investment and second residences. Notably, principal residence mortgages peaked in 2021 with 20,779 loans but saw a decline to 12,805 in 2022. Investment property mortgages have shown a fluctuating but somewhat steady pattern, while second residence loans remained relatively low compared to the other types. These shifts can influence various stakeholders in different ways. For investors and developers, the trends might suggest shifting market demands, potentially guiding where to allocate resources or develop new projects. Real estate agents and appraisers could use this data to better understand market dynamics and advise clients accordingly. Additionally, insurance agents might adjust their risk assessments based on occupancy type trends, influencing policy recommendations and pricing. Those considering a move to Buncombe County might find this information pertinent to gauge property demand and competition nuances.
Economic Outlook
Buncombe County, North Carolina's real estate market shows promising trends, with average taxable income per tax return climbing to $87,986.00 in 2021, indicating a stronger local economy. This growth could mean higher property valuations and shifts in risk assessments. State and local income taxes have surged, reaching $15,120.56 in 2021, possibly reflecting economic changes or policy shifts. Additionally, the county's total tax liability has increased significantly, hitting $15,671.09 in... Read more
Average Taxable Income per Tax Return in Buncombe County, NC over the last 9 years
Buncombe County, North Carolina has experienced a steady increase in average taxable income per tax return over the last nine years, with notable growth peaks in 2017 and a sharp rise in 2021. This upward trend, reaching $87,986.00 in 2021, could potentially reflect a stronger local economy and higher earning potential, making it an attractive area for investment and real estate development. For appraisers and insurance agents, these income trends might suggest higher property valuations and potential changes in risk assessments.
Average State and Local Income Taxes Per Tax Return in Buncombe County, NC Over the Last 10 Years
Buncombe County, North Carolina has seen notable fluctuations in average state and local income taxes per tax return over the past decade. Starting at $6,782.32 in 2012, the taxes rose to $15,120.56 by 2021, with a significant spike occurring between 2017 and 2018. The steep increases post-2017, especially the 36% jump from 2020 to 2021, could signal an economic surge or policy changes affecting taxpayers. For investors, real estate agents, or those considering moving to the area, understanding these variations is key to anticipating future financial obligations and market conditions.
Average Total Tax Liability Per Tax Return in Buncombe County, NC Over the Last 10 Years
Over the last decade, Buncombe County, North Carolina, has seen a notable increase in the average total tax liability per tax return, rising from approximately $8,396.42 in 2012 to around $15,671.09 in 2021. This steady growth trend suggests potential increases in income or property values, which could be relevant for potential investors, real estate agents, and those interested in the local economy. The sharp rise in 2021 might indicate significant economic changes, possibly linked to the broader impacts of the pandemic. This data could be crucial for appraisers and insurance agents recalibrating property valuations and risk assessments in the area.
Cost of Living in Buncombe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,037 | $1,713 | $2,060 | $1,802 | $2,093 |
| 1 adult 4 children | $2,037 | $1,399 | $1,576 | $1,802 | $2,205 |
| 2 adults 3 children | $2,037 | $1,400 | $1,787 | $1,802 | $1,814 |
| 1 adult 3 children | $2,037 | $1,143 | $1,303 | $1,802 | $1,923 |
| 2 adults 2 children | $1,532 | $1,146 | $1,514 | $1,589 | $1,379 |
| 1 adult 2 children | $1,532 | $856 | $1,030 | $1,589 | $1,420 |
| 2 adults 1 child | $1,532 | $905 | $1,241 | $897 | $1,159 |
| 1 adult 1 child | $1,532 | $585 | $757 | $897 | $1,052 |
| 2 adults | $1,357 | $727 | $967 | $0 | $896 |
| 1 adult | $1,327 | $397 | $484 | $0 | $810 |
Safety trends & Data
Buncombe County, North Carolina has seen fluctuating property crime patterns over the last five years. Burglary dropped from 287.00 arrests in 2018 to 174.00 in 2022, while larceny-theft dipped to 379.00 arrests in 2021 before a slight rise. Embezzlement and fraud arrests also trended downwards, which might indicate better security or economic changes. Vehicle thefts, fraud, and vandalism saw variable figures, reflecting shifting social dynamics. These insights could be crucial for investors,... Read more
Property Crime Trends in Buncombe County, NC Over the Last 5 Years
The property crime landscape in Buncombe County, North Carolina, shows a fluctuating pattern over the past five years. While incidents of arson saw peaks and troughs, burglary and larceny-theft experienced notable declines. Burglary arrests dropped from 287.0 in 2018 to 174.0 in 2022, and larceny-theft dipped from 845.0 to a low point of 379.0 in 2021 before slightly rising again. Embezzlement and fraud arrests displayed a similar decreasing trend, suggesting enhanced security measures or economic shifts. Meanwhile, vehicle thefts, fraud, and vandalism had less pronounced but still variable figures, pointing to changing social dynamics in the county. These trends offer useful insights for investors, property developers, and real estate agents assessing the region's safety and economic environment.
Demographics
Buncombe County, North Carolina, shows a slight female majority among its adult population, which could influence local healthcare and social services planning. About 90,000 residents have attained at least a Bachelor's degree, suggesting a potentially skilled workforce. The age distribution highlights a strong presence in the workforce age bracket (25 to 64 years), but there is also a notable segment of residents 65 and over, hinting at the need for services catering to older adults.... Read more
Race Distribution in Buncombe County, North Carolina (2022)
Educational Attainment in Buncombe County, North Carolina (2022)
Age Distribution in Buncombe County, North Carolina
Citizen Population in Buncombe County, North Carolina (2022)
Political Trends & Data
Buncombe County in North Carolina appeared to lean Democratic in the 2020 U.S. Presidential Election, with Democrats likely capturing nearly 60% of the vote. Republicans seemed to hold just under 39%, highlighting a notable but weaker influence. Minor parties like Libertarians and Greens, as well as other affiliations, appeared to have minimal impact, each drawing around or under 1% of the vote. The distribution hints at a predominantly two-party system with minimal room for third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Buncombe County in North Carolina's 2020 U.S. Presidential Election leaned Democratic with Democrats possibly capturing nearly 60% of the vote, suggesting stronger left-leaning tendencies. Republicans seemed to secure just under 39%, indicating a notable presence but weaker influence compared to Democrats. Minor parties like Libertarians and Greens, alongside other affiliations, appeared to have minimal impact, with each capturing around or under 1% of the vote. This distribution hints at a predominantly two-party system with little room for third-party influence.
38.63% of voters voted for the Republican party in the 2020 Presidential Election
59.74% of voters voted for the Democrat party in the 2020 Presidential Election
0.90% of voters voted for the Livertarian party in the 2020 Presidential Election
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
Buncombe County, North Carolina has seen its student-to-teacher ratio drop from around 15 in 2014 to 14 in 2023. This trend indicates improving classroom environments and potentially better educational outcomes, making the area more attractive for families. With a ratio now below the national average, the county might offer a more personalized educational experience, appealing to investors, real estate agents, and potential... Read more
Student-to-teacher ratio in Buncombe County, North Carolina over the last 10 years
Buncombe County, North Carolina has seen a decrease in its student-to-teacher ratio over the last decade, dropping from approximately 15 in 2014 to around 14 in 2023. This trend is notable because it suggests improving classroom environments and potentially better educational outcomes, making the area appealing for families considering relocation. With the current ratio now below the national average of 14 students per teacher, Buncombe County may offer a more personalized and attentive educational experience, which could be a significant draw for investors, real estate agents, and those thinking of moving to or building in the area.
