Washington County Real Estate and Livability Trends
Washington County, North Carolina has seen average taxable income rise from $38,061.12 to $44,928.77 between 2015 and 2021, signaling a potentially growing local economy that could draw in investors. Median home values have grown slower than state and national trends, from $82,700 in 2015 to $97,800 in 2022, perhaps impacting investment appeal. The student-to-teacher ratio has stayed close to the... Read more
Washington County Market Trends
Washington County, North Carolina has seen modest growth in median home values from $82,700 in 2015 to $97,800 in 2022, lagging behind both state and national trends. This slower growth may impact investment potential and appeal. Residential energy tax credits have fluctuated dramatically, with a notable spike to $2,400.00 in 2018, reflecting possibly heightened energy-efficient installations or... Read more
Median Value of Occupied Housing Units in Washington County, North Carolina Over the Last 8 Years
Over the last 8 years, median home values in Washington County, North Carolina have shown modest gains, with values increasing from $82,700 in 2015 to $97,800 in 2022. This growth is slower compared to both the state of North Carolina, where median values surged from $154,900 to $234,900 in the same period, and the national median values which rose from $125,500 to $179,400. Such trends suggest that while Washington County offers more affordable housing options, it may not provide the same rapid appreciation seen elsewhere, which could impact both the appeal and investment potential for prospective buyers and investors.
Residential Energy Tax Credit Per Tax Return in Washington County, NC Over the Last 9 Years
Residential energy tax credits in Washington County, North Carolina have shown significant fluctuations over the past nine years. Between 2013 and 2017, credits gradually increased from $300.00 to $460.00, hinting at growing adoption of energy-efficient practices. A notable spike occurred in 2018, with an average credit of $2,400.00, suggesting either a surge in energy-efficient installations or enhanced incentives. Though credits dropped back to $428.57 in 2019 and fluctuated slightly afterward, the higher figures in 2021, reaching $687.50, may indicate renewed interest or improvements in energy-efficient technologies. These trends could be of interest to investors and real estate agents looking at the county's commitment to green energy.
Average Real Estate Taxes Per Tax Return in Washington County, NC Over the Last 10 Years
Over the past decade, Washington County, North Carolina has seen a notable upward trend in average real estate taxes per tax return, peaking at $2,575.00 in 2020 before a slight reduction to $2,187.50 in 2021. The consistency of increasing taxes, despite a few dips, points to a growing financial obligation that could impact decisions for investors, potential movers, and property developers. Insurance agents and appraisers should also be aware of these trends for accurate assessments, while real estate professionals can use this data to better advise clients on potential costs.
Percentage of Farm Returns in Washington County, NC Over the Last 10 Years
Washington County, North Carolina has seen varying trends in farm tax returns over the past decade. From a peak of approximately 2.68% in 2014, there's been a notable decline to around 1.77% in 2020, slightly rebounding to roughly 2.03% in 2021. This metric provides insights into the financial landscape of local agriculture, suggesting shifts in agricultural profitability or changes in the number of farm operators filing tax returns. Investors, new residents, and developers might infer broader economic shifts impacting rural areas, influencing decisions about land use, real estate investments, and economic opportunities within the county.
Number of Mortgages by Occupancy Type in Washington County, NC Over the Last 5 Years in Washington County
Over the past five years in Washington County, North Carolina, there's a noticeable fluctuation in the number of mortgages across different occupancy types. Principal residences have consistently dominated, particularly peaking at 343 in 2021. Investment properties and second residences have seen more moderate activity, with second residences spiking to 25 in the same year. These shifts in occupancy type might signal varied economic factors influencing housing choices. Property investors, insurance agents, and appraisers could find these trends significant when evaluating property values and potential risks. Real estate agents and prospective homeowners might view the high proportion of principal residence mortgages as indicative of stable, long-term community growth.
Economic Outlook
Washington County, North Carolina has experienced a steady climb in average taxable income per tax return, from $38,061.12 in 2015 to $44,928.77 in 2021, pointing to a potentially burgeoning local economy that might attract investors and new residents. The variable state and local income taxes, peaking at $6,087.50 in 2020 but dropping to $4,356.25 in 2021, reflect shifting economic conditions and policy changes that could influence financial planning. With the average total tax liability... Read more
Average Taxable Income per Tax Return in Washington County, NC over the last 9 years
Washington County, North Carolina has seen a gradual increase in average taxable income per tax return over the past nine years, with a notable jump from $38,061.12 in 2015 to $44,928.77 in 2021. This trend could signal a strengthening local economy and potentially better job opportunities, making the area increasingly appealing for investors and new residents. The rise, peaking in 2021, implies a stable but cautious improvement in residents' financial health, which might interest real estate agents, appraisers, and insurance agents contemplating the region's market dynamics.
Average State and Local Income Taxes Per Tax Return in Washington County, NC Over the Last 10 Years
Washington County, North Carolina has seen fluctuating average state and local income taxes per tax return over the past decade. In 2012, the average was approximately $4806.32, peaking in 2020 at about $6087.50 before dipping to $4356.25 in 2021. The rising and falling trends may indicate varying economic conditions and policy changes affecting tax liabilities, which can be significant for prospective investors, real estate professionals, and those considering moving to the area. Monitoring these tax trends is crucial for financial planning and anticipating future costs.
Average Total Tax Liability Per Tax Return in Washington County, NC Over the Last 10 Years
For those looking to invest in property within North Carolina's Washington County, the average total tax liability per tax return over the past ten years highlights some important trends. Although there have been fluctuations, tax liabilities have generally hovered around the $5,000 to $5,500 mark. Notably, there's been a rise to $5,731.61 in 2017 and a recent increase to $5,530.96 in 2021. These variations could impact decision-making for potential investors or current residents thinking about long-term financial planning.
Cost of Living in Washington County
Family Size | Housing | Food | Heath Care | Child Care | Taxes |
---|---|---|---|---|---|
2 adults 4 children | $1,000 | $1,291 | $2,466 | $1,436 | $1,409 |
1 adult 4 children | $1,000 | $1,054 | $1,891 | $1,436 | $1,491 |
2 adults 3 children | $1,000 | $1,055 | $2,137 | $1,436 | $1,146 |
1 adult 3 children | $1,000 | $861 | $1,562 | $1,436 | $1,179 |
2 adults 2 children | $771 | $863 | $1,808 | $1,243 | $939 |
1 adult 2 children | $771 | $645 | $1,233 | $1,243 | $872 |
2 adults 1 child | $771 | $682 | $1,479 | $615 | $815 |
1 adult 1 child | $771 | $441 | $904 | $615 | $661 |
2 adults | $621 | $548 | $1,150 | $0 | $650 |
1 adult | $617 | $299 | $575 | $0 | $557 |
Safety trends & Data
Washington County, North Carolina has experienced fluctuating property crime rates over the past five years. Larceny-theft has been the most prevalent, peaking at 25 cases in 2018, then dropping to 6 in 2022. Burglary incidents have slightly declined, while arson began sporadically in 2020 but remains rare. Vandalism has held steady at 5 cases annually, suggesting a manageable concern for property owners. These trends could influence insurance rates and property values, potentially impacting... Read more
Property Crime Trends in Washington County, NC Over the Last 5 Years
Washington County, North Carolina has seen noticeable fluctuations in property crimes over the past five years, with larceny-theft consistently leading with varying intensities, peaking at 25 cases in 2018 but dropping to 6 in 2022. Burglary has also been a persistent issue, showing a slight declining trend from 8 cases in 2018 to 6 in 2022. Notably, there were sporadic occurrences of arson starting in 2020, but incidents remained relatively rare. Vandalism held steady with 5 cases each year, indicating a consistent yet manageable concern for property owners. Prospective investors and property developers should be aware of these trends as they could impact insurance rates and property values.
Demographics
In Washington County, North Carolina, the adult population leans slightly towards female representation. Educational attainment is somewhat fragmented with a sizable portion having just a high school diploma or attending college without finishing a degree. Age-wise, there's a larger cohort of residents in the 55 to 74 years range, hinting at an aging population. Racially, the county displays a nearly equal distribution between White and Black or African American... Read more
Race Distribution in Washington County, North Carolina (2022)
Educational Attainment in Washington County, North Carolina (2022)
Age Distribution in Washington County, North Carolina
Citizen Population in Washington County, North Carolina (2022)
Political Trends & Data
Washington County in North Carolina displays a modest lean towards Democratic voters, echoing potential patterns observed in similar locales. While Republican support is almost equivalent, Libertarian and other minor parties appear minimal. This voter distribution implies a mainly two-party contest with limited third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Washington County in North Carolina may show a slight lead for Democratic voters, reflecting broader trends possibly seen in other regions. Although Republican voters are nearly on par, the presence of Libertarian and other minor parties seems negligible. This distribution could hint at a predominantly two-party competition with minor third-party influences.
44.82% of voters voted for the Republican party in the 2020 Presidential Election
54.73% of voters voted for the Democrat party in the 2020 Presidential Election
0.27% of voters voted for the Livertarian party in the 2020 Presidential Election
0.03% 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
The student-to-teacher ratio in Washington County, North Carolina, has fluctuated over the past decade, peaking at about 16 in 2021 and dipping to near 14 in 2018, generally staying close to the national average. This could indicate a balanced and potentially improving educational environment, signaling quality community life and stable property values. For investors and real estate agents, these ratios might reflect well-managed educational resources—a key factor when considering market... Read more
Student-to-teacher ratio in Washington County, North Carolina over the last 10 years
The student-to-teacher ratio in Washington County, North Carolina, over the past decade has shown considerable fluctuation, peaking at around 16 in 2021 and dipping to nearly 14 in 2018. Despite these variations, the county's ratio has mostly hovered near the national average of 14 students per teacher. For investors, real estate agents, and potential residents, this data might suggest a balanced and potentially improving educational environment, which can be a strong indicator of community quality and long-term property value. Appraisors and insurance agents may see stable ratios as a sign of well-managed educational resources, translating to a more stable market.