Chowan County Real Estate and Livability Trends
Chowan County, North Carolina, has seen its average taxable income jump from $47,171.02 in 2013 to $69,051.49 in 2021, suggesting economic prosperity and possibly drawing more affluent residents, potentially inflating property values. Median home values increased from $135,900 in 2015 to $181,400 in 2022, still trailing behind state and national levels, presenting affordable investment... Read more
Chowan County Market Trends
Chowan County, North Carolina has seen a robust rise in median home values from $135,900 in 2015 to $181,400 in 2022, yet remains lower than the state ($234,900) and national averages ($179,400), making it an appealing investment for those seeking affordable options with growth potential. The average residential energy tax credit per tax return reached a peak of $800.00 in 2018, indicating... Read more
Median Value of Occupied Housing Units in Chowan County, North Carolina Over the Last 8 Years
Chowan County, North Carolina has seen a robust and consistent increase in median home values over the last eight years, jumping from $135,900 in 2015 to $181,400 in 2022. While this trend reflects strong local growth, it's worth noting that home values in Chowan County are generally lower compared to North Carolina's state average, which stands at $234,900 for 2022, and the national average of $179,400. This gap could present an appealing opportunity for investors looking for more affordable investments with considerable growth potential in a rising market.
Residential Energy Tax Credit Per Tax Return in Chowan County, NC Over the Last 9 Years
Chowan County, North Carolina has experienced significant fluctuations in the average residential energy tax credit per tax return over the last nine years, starting from $218.18 in 2013 and reaching a peak of $800.00 in 2018. The value tends to swing considerably, indicating a volatile yet potentially lucrative opportunity for incentivizing energy-efficient home improvements. For real estate professionals, investors, and property developers, this trend suggests a growing emphasis on and possibly increased state or federal support for energy efficiency measures in residential properties, which could make energy-efficient homes more appealing to buyers and more valuable on the market.
Average Real Estate Taxes Per Tax Return in Chowan County, NC Over the Last 10 Years
Chowan County, North Carolina, has seen a notable upward trend in average real estate taxes per tax return over the last decade. Starting at $2,471.88 in 2012, the average tax amount had a few fluctuations but predominantly rose, reaching $4,097.22 by 2021. This consistent increase may impact the cost-benefit analysis for potential investors, homebuyers, and property developers, reflecting a shift in the fiscal landscape that could influence real estate valuations and financial planning. This trend is essential for those looking to understand the county's evolving property tax environment and its implications on long-term investments.
Percentage of Farm Returns in Chowan County, NC Over the Last 10 Years
The percentage of farm tax returns in Chowan County, North Carolina, appears to be marginally declining over the last decade. Starting at around 2.20% in 2012, it tapered to approximately 1.67% by 2021. This subtle downward trend might suggest slight shifts in economic activities or demographic changes affecting the agriculture sector. For potential investors or newcomers, this data might hint at evolving land use patterns and economic diversification in Chowan. Real estate developers could consider investigating these trends for opportunities in other sectors or agribusiness innovations.
Number of Mortgages by Occupancy Type in Chowan County, NC Over the Last 5 Years in Chowan County
Mortgages for principal residences in Chowan County, North Carolina, have generally shown an upward trend over the past five years, peaking notably in 2021 with 855 mortgages. Investment properties and second residences have remained relatively stable but significantly lower in volume compared to principal residences. These changes in mortgage trends could signal shifts in the local real estate market, hinting at a growing preference for primary homes over investment and vacation properties. This information can be crucial for investors, potential residents, appraisers, insurance agents, builders, and real estate agents to understand market dynamics and predict future demands.
Economic Outlook
Chowan County, North Carolina, has experienced a significant rise in average taxable income, from $47,171.02 in 2013 to $69,051.49 in 2021. This upward trend might suggest economic growth, a shift toward a more affluent resident demographic, and potential for higher-end market opportunities. Concurrently, average state and local income taxes also saw a marked increase, from $5889.66 in 2012 to $12563.16 in 2021, which may indicate rising incomes or changes in tax policy. The total tax liability... Read more
Average Taxable Income per Tax Return in Chowan County, NC over the last 9 years
Chowan County, North Carolina has seen a notable increase in average taxable income per tax return over the past nine years. From $47,171.02 in 2013 to $69,051.49 in 2021, the general upward trend, especially the sharp rise seen in the last few years, might suggest economic growth or shifts in the resident demographic. For investors, it could mean a more affluent population, while real estate agents might see potential for higher-end market opportunities. This information could be crucial for appraisers and insurance agents adjusting their assessments and contributions.
Average State and Local Income Taxes Per Tax Return in Chowan County, NC Over the Last 10 Years
In Chowan County, North Carolina, average state and local income taxes per tax return have exhibited a noteworthy upward trend over the past decade, starting from approximately $5889.66 in 2012. A significant jump can be seen in 2018, with taxes reaching $9850.00, and continued to rise sharply to about $12563.16 by 2021. This could suggest an increasing tax burden, possibly reflecting rising incomes or changes in tax policy. Those interested in moving to or investing in Chowan County should be mindful of these possible increasing tax obligations. Real estate agents and appraisers may find the rising taxes an important factor to consider in the valuation and attractiveness of properties, while insurance agents might see this as indicative of broader economic shifts in the area.
Average Total Tax Liability Per Tax Return in Chowan County, NC Over the Last 10 Years
The data reveals a notable upward trend in the average total tax liability per tax return in Chowan County, North Carolina over the past decade. For example, from 2012 to 2021, the average tax liability rose from around $7,857.71 to $11,554.83. This trend likely reflects broader economic conditions, changes in tax policies, and possibly increasing property values in the area. For those considering investing, appraising, or building property in Chowan County, this increase in tax liability signals a dynamic economic environment that could affect overall costs and returns.
Cost of Living in Chowan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,121 | $1,399 | $2,260 | $1,405 | $1,410 |
| 1 adult 4 children | $1,121 | $1,143 | $1,732 | $1,405 | $1,499 |
| 2 adults 3 children | $1,121 | $1,143 | $1,959 | $1,405 | $1,148 |
| 1 adult 3 children | $1,121 | $933 | $1,431 | $1,405 | $1,192 |
| 2 adults 2 children | $921 | $936 | $1,658 | $1,208 | $954 |
| 1 adult 2 children | $921 | $699 | $1,130 | $1,208 | $900 |
| 2 adults 1 child | $921 | $740 | $1,357 | $568 | $829 |
| 1 adult 1 child | $921 | $478 | $829 | $568 | $681 |
| 2 adults | $742 | $594 | $1,056 | $0 | $671 |
| 1 adult | $737 | $324 | $528 | $0 | $584 |
Safety trends & Data
Chowan County, North Carolina has experienced some notable fluctuations in property crime over the past five years, with larceny-theft peaking at 27 incidents in 2020 and a sharp decline in burglary from 17 incidents in 2020 to just 3 in 2022. Fraud incidents have also varied, dropping from 8 incidents in 2018 and 2020 to only 2 in subsequent years. These trends may hint at shifts in local socio-economic conditions or the effectiveness of law enforcement, factors that could be vital for... Read more
Property Crime Trends in Chowan County, NC Over the Last 5 Years
Over the last five years, Chowan County, North Carolina has seen some fluctuations in property crime trends. Notably, while larceny-theft has remained relatively high, peaking at 27 incidents in 2020, burglary incidents have oscillated, with a significant decline from 17 in 2020 to just 3 in 2022. Vandalism and fraud numbers also show notable variability with fraud once at 8 incidents in 2018 and 2020, dropping to 2 in subsequent years. These shifts suggest possible changes in local socio-economic conditions or law enforcement efficacy, which could be crucial for investors, real estate professionals, and current residents assessing security and property values.
Demographics
Chowan County, North Carolina, shows a nearly balanced gender distribution with a slight female majority. The educational landscape is mixed, with a significant portion of the population having either a high school diploma or some college education, but there are relatively few with advanced degrees. Age-wise, the county has a mature demographic, notably more concentrated in the 55 to 74 years age range. The racial composition is predominantly White, though there's a considerable Black or... Read more
Race Distribution in Chowan County, North Carolina (2022)
Educational Attainment in Chowan County, North Carolina (2022)
Age Distribution in Chowan County, North Carolina
Citizen Population in Chowan County, North Carolina (2022)
Political Trends & Data
Chowan County, North Carolina, shows a significant lean towards the Republican Party, with roughly 57% of the votes in the last U.S. presidential election. Democrats captured around 42%, indicating a substantial but lesser influence. Third-party candidates had minimal presence, collectively securing less than 1% of the vote. This data implies a primarily two-party landscape with a strong Republican... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Chowan County, North Carolina, exhibits a notable leaning towards the Republican Party, with approximately 57% of votes. The Democrats garnered around 42%, indicating a significant but lesser presence. Third parties like the Libertarian and Green made only a minimal impact, collectively capturing less than 1% of the vote. This suggests a predominantly two-party dynamic with a strong Republican preference in the county.
57.44% of voters voted for the Republican party in the 2020 Presidential Election
41.71% of voters voted for the Democrat party in the 2020 Presidential Election
0.60% of voters voted for the Livertarian party in the 2020 Presidential Election
0.09% of voters voted for the Green party in the 2020 Presidential Election
0.15% of voters voted for the Other party in the 2020 Presidential Election
School Data
Chowan County, North Carolina, has experienced fluctuations in its student-to-teacher ratio over the past decade, oscillating between approximately 14 to 16 students per teacher. Even with occasional reductions, like in 2021 when the ratio was around 14, the figure often remains above the national average. These trends could be crucial for buyers, investors, and real estate agents, as lower ratios may suggest better student attention and influence decisions regarding school quality and... Read more
Student-to-teacher ratio in Chowan County, North Carolina over the last 10 years
Chowan County, North Carolina has seen fluctuation in its student-to-teacher ratio over the last decade, ranging from approximately 14 to 16 students per teacher. Despite occasional reductions, such as in 2021 when the ratio was about 14 students per teacher, the county's student-to-teacher ratio has often trended above the current national average of 14 students per teacher. Buyers, investors, and real estate agents might find these trends significant as lower ratios can indicate more personalized attention for students, potentially influencing decisions around school quality and community investments. Higher ratios might affect property values and can be a consideration for families prioritizing education in their relocation decisions.
