Richmond County Real Estate and Livability Trends
Richmond County, North Carolina has seen its average taxable income per tax return rise from $35,788.74 in 2013 to $46,134.98 in 2021, indicating potential economic growth, which could pique the interest of investors. Median home values increasing from $78,600 in 2015 to $111,900 in 2022 suggest a strengthening local market, even though it's still below national and state medians. A rise in real... Read more
Richmond County Market Trends
Richmond County, North Carolina's median home values have risen from $78,600 in 2015 to $111,900 in 2022, suggesting a strengthening local market despite being below the national and state medians. The fluctuating residential energy tax credits, ranging from $333.33 in 2013 to $1,233.33 in 2018, point to potential volatility in energy investments, which is crucial for assessing property value... Read more
Median Value of Occupied Housing Units in Richmond County, North Carolina Over the Last 8 Years
Richmond County, North Carolina's median home values have shown steady growth over the past eight years, climbing from $78,600 in 2015 to $111,900 in 2022. Although still significantly lower than the national median, which peaked at $179,400 in 2022, this upward trend suggests a strengthening local housing market. Compared to North Carolina's state median, which rose to $234,900 in the same year, Richmond County offers more affordable investment opportunities with potential for appreciation. This growth trajectory could appeal to investors, potential homeowners, and developers looking for cost-effective listings with room to appreciate.
Residential Energy Tax Credit Per Tax Return in Richmond County, NC Over the Last 9 Years
Richmond County, North Carolina has seen considerable fluctuations in residential energy tax credit per tax return over the last nine years, ranging from a low of around $333.33 in 2013 to a high of $1,233.33 in 2018. This up-and-down trend highlights potential volatility in the types of energy investments residents are making, which could be crucial for those assessing property value or predicting market behavior. For investors, real estate agents, or residents planning to improve their homes, understanding these trends could provide insights into energy efficiency investments and their potential returns.
Average Real Estate Taxes Per Tax Return in Richmond County, NC Over the Last 10 Years
In Richmond County, North Carolina, real estate taxes per tax return have shown a noticeable upward trend over the past decade. Starting at $1,967.67 in 2012, the average amount has steadily risen, reaching $2,883.72 by 2021. This gradual increase may suggest rising property values and could be a signal of economic growth or increased public service expenditure in the area. Such trends are vital for potential investors, homebuyers, and real estate professionals to consider when assessing the financial landscape and potential return on investment in Richmond County.
Percentage of Farm Returns in Richmond County, NC Over the Last 10 Years
Richmond County, North Carolina, has shown some variability in the percentage of farm tax returns over the last decade, hovering around 1.15% to 0.95%. Farm tax returns are a key indicator of agricultural activity within a region, capturing income data from farming which can fluctuate due to changes in crop yield, commodity prices, and other economic factors. For those looking to invest or build property in Richmond County, the slight decline in farm returns might suggest a need for diversification or supplementary income sources. However, the relatively consistent data indicates some stability in the region's agricultural sector.
Number of Mortgages by Occupancy Type in Richmond County, NC Over the Last 5 Years in Richmond County
In Richmond County, North Carolina, there has been a consistent dominance of principal residence mortgages over the past five years, peaking at 1846 in 2021 before declining slightly to 1655 in 2022. On the other hand, investment property mortgages have remained relatively low, with a slight increase from 40 in 2018 to 79 in 2021, but then dipping down again. Mortgages for second residences are the least frequent but show minimal fluctuation, hovering around 20-37 throughout the years. These shifts in occupancy types can have significant implications. For real estate agents and investors, the high and periodically fluctuating number of principal residence mortgages indicates a stable demand for primary homes. This can suggest a reliable market for selling or renting homes. For appraisers and insurance agents, understanding occupancy type trends aids in accurate property value assessments and risk calculations. Builders might focus on developing primary residential buildings over investment properties or second homes to meet the apparent demand. Overall, these insights provide a nuanced view of housing dynamics, essential for anyone involved in Richmond County's real estate market.
Economic Outlook
Richmond County, North Carolina, has experienced a steady rise in average taxable income per tax return, from $35,788.74 in 2013 to $46,134.98 in 2021, indicating potential economic growth. The increase in state and local income taxes, especially post-2017, and the rise in total tax liability per tax return, peaking at around $5,983 in 2021, could reflect broader economic changes and rising property values. These trends may interest investors, property developers, and homebuyers looking at the... Read more
Average Taxable Income per Tax Return in Richmond County, NC over the last 9 years
Richmond County, North Carolina has seen a gradual increase in average taxable income per tax return over the last nine years. From $35,788.74 in 2013 to $46,134.98 in 2021, this trend suggests a steady economic growth in the region. Such rising incomes could potentially boost the real estate market, making the county more attractive to investors, property developers, and homebuyers. Appraisers and insurance agents might also take note of this upward trajectory, as higher incomes typically correlate with increased property values and insurance needs. For those interested in moving to or currently living in Richmond County, this growth in taxable income may be indicative of improving local economic conditions.
Average State and Local Income Taxes Per Tax Return in Richmond County, NC Over the Last 10 Years
Over the past decade, Richmond County, North Carolina has seen notable fluctuations in its average state and local income taxes per tax return. Between 2012 and 2015, taxes varied but generally stayed around the $4,500.00 mark. However, from 2016 onward, there was a considerable increase, peaking at $6,672.73 in 2021. This sharp rise, especially post-2017, could interest investors and real estate agents as it may correlate with economic growth or changes in fiscal policies. Individuals and businesses considering moves to the area should weigh these trends as part of their financial planning.
Average Total Tax Liability Per Tax Return in Richmond County, NC Over the Last 10 Years
Richmond County, North Carolina has seen a notable increase in average total tax liability per tax return over the past decade. Starting at approximately $4,723 in 2012, the average tax liability rose gradually, peaking sharply at about $5,983 in 2021. Significant upticks occurred around 2015 and again in 2020. This trend suggests economic factors, such as income or property values, might have risen in the area, reflecting changes that could impact investments, property development, and overall economic growth in Richmond County.
Cost of Living in Richmond County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,096 | $1,339 | $2,084 | $1,336 | $1,275 |
| 1 adult 4 children | $1,096 | $1,094 | $1,596 | $1,336 | $1,368 |
| 2 adults 3 children | $1,096 | $1,094 | $1,807 | $1,336 | $1,034 |
| 1 adult 3 children | $1,096 | $893 | $1,319 | $1,336 | $1,080 |
| 2 adults 2 children | $771 | $896 | $1,530 | $1,147 | $833 |
| 1 adult 2 children | $771 | $669 | $1,042 | $1,147 | $755 |
| 2 adults 1 child | $771 | $708 | $1,253 | $532 | $727 |
| 1 adult 1 child | $771 | $457 | $765 | $532 | $593 |
| 2 adults | $683 | $569 | $976 | $0 | $621 |
| 1 adult | $642 | $310 | $488 | $0 | $536 |
Safety trends & Data
Richmond County, North Carolina has experienced shifting property crime trends, impacting real estate considerations. Burglary incidents peaked in 2020 with 71 reported cases, dropping to 45 by 2022. Larceny-theft, once at 106 cases in 2018, appears to have stabilized around mid-50s by 2022. Motor vehicle theft has shown a gradual increase, jumping from 5 cases in 2018 to 16 in 2021. These fluctuations may be crucial for investors, homebuyers, real estate agents, and insurers evaluating risk... Read more
Property Crime Trends in Richmond County, NC Over the Last 5 Years
Richmond County, North Carolina has seen fluctuating trends in property crimes over the past five years. Burglary incidents reached their height in 2020 with 71 reported cases but have since shown a decrease, notably dropping to 45 in 2022. Larceny-theft, though peaking at 106 cases in 2018, appears to have stabilized around the mid-50s by 2022. Interestingly, motor vehicle theft has gradually increased, with a notable jump from 5 cases in 2018 to 16 in 2021. This dynamic shift in crime statistics could be pivotal for potential investors, homebuyers, real estate agents, and insurance companies assessing risk and property values in the region.
Demographics
Richmond County, North Carolina, shows a relatively balanced gender distribution with slightly more females than males. Educational attainment varies widely, though a significant portion of the adult population has completed high school, while a smaller percentage possesses a graduate or professional degree. The age profile indicates a diverse range across different age brackets, emphasizing an aging population with notable segments in the 55 to 64 years and 65 to 74 years categories. Racial... Read more
Race Distribution in Richmond County, North Carolina (2022)
Educational Attainment in Richmond County, North Carolina (2022)
Age Distribution in Richmond County, North Carolina
Citizen Population in Richmond County, North Carolina (2022)
Political Trends & Data
Richmond County in North Carolina leaned notably Republican in the 2020 U.S. Presidential Election, as evidenced by the 56.98% of votes going to the GOP. Democrats secured approximately 42.16%, indicating a competitive partisan landscape. Third parties such as Libertarian and Green received negligible support, collectively under 1%, hinting at minimal third-party influence in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Richmond County in North Carolina leaned significantly Republican in the 2020 U.S. Presidential Election, with potential factors contributing to the 56.98% of votes leaning GOP. Democrats captured about 42.16% of the vote, hinting at notable partisan competition. Minor parties, including Libertarian and Green, garnered minimal support, collectively obtaining less than 1% of the vote, which could suggest limited influence from third-party candidates in this region.
56.98% of voters voted for the Republican party in the 2020 Presidential Election
42.16% of voters voted for the Democrat party in the 2020 Presidential Election
0.48% of voters voted for the Livertarian party in the 2020 Presidential Election
0.17% of voters voted for the Green party in the 2020 Presidential Election
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Richmond County, North Carolina has varied over the past decade, with a peak of 17 students per teacher in 2019 and a low of 14 in 2016. Recently, ratios have been around 16, which is above the national average of 14. These higher ratios may indicate larger class sizes, potentially impacting teaching quality and school performance. This could be a significant factor for families considering a move to the area and might influence real estate investments, property... Read more
Student-to-teacher ratio in Richmond County, North Carolina over the last 10 years
Over the past decade, the student-to-teacher ratio in Richmond County, North Carolina has fluctuated, peaking at 17 students per teacher in 2019 and reaching a low of 14 students per teacher in 2016. With recent ratios hovering around 16 students per teacher, it still remains above the national average of 14. Higher ratios may indicate larger class sizes, potentially affecting individual student attention, teaching quality, and overall school performance, which could influence decisions for families considering moving to the county as well as real estate investment and development in the area. These figures might also be of interest to appraisers and insurance agents when assessing school district impacts on property values and risk.
