Richmond County Real Estate and Livability Trends
Average taxable income in Richmond County, New York, has steadily climbed from $64,416.48 in 2013 to $81,072.63 in 2021, potentially indicating a stronger economic environment attractive to real estate investors and homebuyers. Median home values have dramatically increased from $439,500 in 2015 to $637,100 in 2022, outpacing state and national trends, which could suggest high residential... Read more
Richmond County Market Trends
Median home values in Richmond County, New York, have surged from $439,500 in 2015 to $637,100 in 2022, suggesting robust market health that could attract investors. This growth outpaces both the state and national trends, signaling potentially high demand for residential properties. The average residential energy tax credit per tax return has fluctuated significantly, peaking at around $3,480.79... Read more
Median Value of Occupied Housing Units in Richmond County, New York Over the Last 8 Years
In the last eight years, median home values in Richmond County, New York, have increased from $439,500 in 2015 to $637,100 in 2022, reflecting a continuous uptrend that could be enticing for potential investors. This growth outpaces both New York State, which saw values rise from $283,400 to $384,100, and the national trend, where values climbed from $125,500 to $179,400. For those considering moving to or investing in Richmond County, this consistent upward trajectory hints at a robust market, potentially promising good returns on investment and indicating a possibly high demand area for residential property.
Residential Energy Tax Credit Per Tax Return in Richmond County, NY Over the Last 9 Years
In Richmond County, New York, the average residential energy tax credit per tax return has seen considerable fluctuations over the past nine years. Starting at just around $433.03 in 2013, the amount surged to a peak of approximately $3480.79 in 2018. Although there was a drop in subsequent years, it remained relatively high at around $2053.12 in 2021. This trend could indicate increasing investments in energy-efficient home improvements, which might be relevant for property developers, real estate investors, and insurance agents looking to gauge the market's responsiveness to energy conservation incentives.
Average Real Estate Taxes Per Tax Return in Richmond County, NY Over the Last 10 Years
Over the past decade, average real estate taxes per tax return in Richmond County, New York have demonstrated a steady increase, starting from approximately $4,405.02 in 2012 and reaching around $6,723.38 by 2021. This consistent upward trend could be indicative of rising property values or increasing tax rates, signaling potential escalations in cost of living and impacting the decision-making process for prospective homebuyers, property developers, and real estate investors. For appraisers and insurance agents, the higher taxes may reflect shifting market dynamics and valuation considerations in the area.
Percentage of Farm Returns in Richmond County, NY Over the Last 10 Years
Richmond County, New York, has seen farm tax returns exhibit only marginal fluctuations over the last decade. Starting from 0.01398% in 2012, they peaked at around 0.01824% in 2014 and eventually declined to roughly 0.01113% by 2020, with a slight rebound to 0.01606% in 2021. These figures suggest that while agriculture exists, it forms a very minor component of the local economy. For those interested in investing or building property in Richmond County, it’s worth noting that farming activities may not offer significant economic opportunities but underscore a niche market consistently present over the years.
Number of Mortgages by Occupancy Type in Richmond County, NY Over the Last 5 Years in Richmond County
Richmond County, New York has seen varied trends in mortgage activity over the past five years, particularly notable in the principal residence category, which peaked in 2021 with over 21,000 new mortgages. Investment properties and second residences have remained relatively stable, with modest fluctuations year-to-year. For investors and real estate professionals, this surge signals strong homeowner interest, while the steady numbers in investment properties could indicate consistent demand for rental units. Shifts in these trends are key for appraisers and insurers, affecting property values and risk assessments. Each category’s performance offers insight into market health and opportunities for growth.
Economic Outlook
In Richmond County, New York, average taxable income per tax return has generally increased over the past nine years, rising from $64,416.48 in 2013 to $81,072.63 in 2021. Coupled with the climbing average state and local income taxes—from $9,827.83 in 2012 to $16,632.93 in 2021—these trends could reflect a strengthening economic environment that attracts real estate investors and homebuyers. Additionally, the average total tax liability per tax return has also grown, suggesting higher... Read more
Average Taxable Income per Tax Return in Richmond County, NY over the last 9 years
In Richmond County, New York, the average taxable income per tax return has experienced some fluctuations but generally trends upward over the past nine years. Starting from a low of $64,416.48 in 2013, it steadily increased to $81,072.63 by 2021, though there was a slight dip in 2016 and another smaller decrease in 2020. This growth might hint at a strengthening economic environment that could be attractive to real estate investors, property appraisers, and insurance agents considering the area's potential for higher asset values. Those looking to move to or build in Richmond County may also find the rising incomes encouraging, potentially reflecting better job opportunities and an overall improvement in living standards.
Average State and Local Income Taxes Per Tax Return in Richmond County, NY Over the Last 10 Years
Richmond County, New York, has experienced a notable increase in average state and local income taxes per tax return over the last decade, climbing from approximately $9,827.83 in 2012 to around $16,632.93 in 2021. This upward trend, particularly marked by a jump to $14,278.17 in 2018, suggests a rising tax burden that potential investors, homebuyers, and real estate agents should consider when evaluating the area. For appraisers and insurance agents, understanding these tax dynamics is crucial for accurate property assessments and risk evaluations.
Average Total Tax Liability Per Tax Return in Richmond County, NY Over the Last 10 Years
In Richmond County, New York, the average total tax liability per tax return has seen a noticeable increase over the last decade, rising from approximately $9,831.97 in 2012 to around $13,310.14 in 2021. This gradual upward trend, with some fluctuations, could indicate a growing economic environment and higher income levels within the region. However, this increase in tax liability might also affect the cost of living and the overall financial planning for current and potential residents. Investors, real estate agents, and insurance agents should consider these trends when evaluating the market and its potential impacts on property values and client finances.
Cost of Living in Richmond County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,753 | $1,633 | $1,777 | $3,040 | $2,804 |
| 2 adults 3 children | $2,753 | $1,334 | $1,741 | $3,040 | $2,625 |
| 1 adult 4 children | $2,753 | $1,333 | $1,105 | $3,040 | $2,801 |
| 1 adult 3 children | $2,753 | $1,089 | $1,068 | $3,040 | $2,668 |
| 2 adults 2 children | $2,193 | $1,092 | $1,704 | $2,671 | $2,188 |
| 1 adult 2 children | $2,193 | $816 | $1,031 | $2,671 | $2,234 |
| 2 adults 1 child | $2,193 | $863 | $1,667 | $1,470 | $1,787 |
| 1 adult 1 child | $2,193 | $557 | $995 | $1,470 | $1,716 |
| 2 adults | $1,941 | $693 | $1,189 | $0 | $1,165 |
| 1 adult | $1,899 | $378 | $594 | $0 | $1,155 |
Demographics
Richmond County, New York's adult population skews slightly female, with women making up about 52% of the total. The educational landscape shows a notable number with high school diplomas (102,409), while higher education is also significant, including around 72,848 with bachelor's degrees. Age-wise, most residents fall between 25-64, suggesting a mature workforce. Racially, the county is predominantly white, though there's a significant presence of Asian and Black or African American... Read more
Race Distribution in Richmond County, New York (2022)
Educational Attainment in Richmond County, New York (2022)
Age Distribution in Richmond County, New York
Citizen Population in Richmond County, New York (2022)
Political Trends & Data
Richmond County in New York exhibited a tendency towards Republican preferences during the 2020 U.S. Presidential Election, as evidenced by approximately 56.6% of the vote. Democrats captured around 41.8%, pointing to a significant yet smaller base of support. Minor parties like the Libertarians and Greens each garnered less than 1%, collectively amassing just over 1%. This suggests a conservative leaning within the area, with a noteworthy Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Richmond County in New York showed a tendency towards Republican preferences in the 2020 U.S. Presidential Election, with approximately 56.6% of the vote. Democrats secured around 41.8%, indicating a significant but smaller support base. Minor parties like the Libertarians and Greens had marginal impact, each garnering less than 1%, while other parties collectively achieved just over 1%. This distribution potentially highlights a leaning towards conservative values within the area, albeit with a notable Democratic presence.
56.60% of voters voted for the Republican party in the 2020 Presidential Election
41.76% of voters voted for the Democrat party in the 2020 Presidential Election
0.42% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Green party in the 2020 Presidential Election
0.92% of voters voted for the Other party in the 2020 Presidential Election
School Data
Richmond County, New York has seen its student-to-teacher ratio decrease from 15 students per teacher in 2014 to just above 12 in 2023, now below the national average of 14. This trend could suggest improving educational support, making the area more appealing for families and potentially boosting property values. Real estate agents, investors, and insurance agents might find this development noteworthy as it may indicate increased demand due to the enhanced educational... Read more
Student-to-teacher ratio in Richmond County, New York over the last 10 years
Over the past decade, Richmond County, New York has observed a noticeable decline in its student-to-teacher ratio, dropping from 15 students per teacher in 2014 to just above 12 in 2023. Interestingly, this ratio is now below the national average of 14 students per teacher. For prospective investors, homebuyers, or real estate agents, this trend could signal improving educational support, potentially making the area more attractive for families. Appraisers and insurance agents might also view this as a factor in increasing property value due to enhanced educational infrastructure.
