Washington County Real Estate and Livability Trends
Washington County, Rhode Island has been experiencing significant economic and real estate growth, evidenced by the average taxable income rising from $74,056.98 in 2013 to $115,508.36 by 2021, and median home values hitting $436,000 in 2022—outpacing both state and national medians. Increased residential energy tax credits suggest widespread investment in energy-efficient upgrades, enhancing... Read more
Washington County Market Trends
Median home values in Washington County, Rhode Island, have grown steadily to $436,000 in 2022, well above both the state and national medians. The average residential energy tax credit also surged from $366.17 in 2013 to $2,076.06 in 2021, showing significant investments in energy-efficient improvements. Real estate taxes per return increased from $5,380.47 in 2012 to $7,236.19 in 2021, perhaps... Read more
Median Value of Occupied Housing Units in Washington County, Rhode Island Over the Last 8 Years
Median home values in Washington County, Rhode Island, have experienced a steady ascent over the past eight years, reaching $436,000 in 2022. This growth places the county's housing market well above the state’s median value of $343,100 and far surpasses the national median of $179,400. Such distinctive market trends could signal a lucrative opportunity for investors and homeowners alike, potentially driven by local development, desirability of the area, or other economic factors.
Residential Energy Tax Credit Per Tax Return in Washington County, RI Over the Last 9 Years
Washington County, Rhode Island has seen a dramatic increase in the average residential energy tax credit per tax return from $366.17 in 2013 to $2076.06 in 2021, peaking at $5062.50 in 2018. Though values fluctuate, the general upward trend indicates growing investments in energy-efficient home improvements, something potential investors and residents might find crucial for long-term savings. For real estate agents and appraisers, such trends could potentially enhance property values, while insurance agents might consider these factors when assessing policy risks and benefits.
Average Real Estate Taxes Per Tax Return in Washington County, RI Over the Last 10 Years
Washington County, Rhode Island has seen a steady increase in average real estate taxes per tax return over the past decade, with a notable rise from $5,380.47 in 2012 to $7,236.19 in 2021. This trend could suggest a correlated increase in property values or local tax rates, which may be of interest to potential investors or those considering moving to the area. With taxes consistently climbing, appraisors and insurance agents might adjust their assessments, and real estate agents could highlight these changes to prospective buyers. For current residents, the rising taxes may be indicative of local economic growth or increased funding for public services.
Percentage of Farm Returns in Washington County, RI Over the Last 10 Years
Washington County, Rhode Island has seen only mild fluctuations in farm returns over the past decade, hovering around 0.35% of all returns annually. The highest percentage was roughly 0.37% in 2016, while the lowest dipped to about 0.33% in 2014. Farm tax returns include income and expenses related to agricultural activities, which can provide insights into the economic health of local farms—a crucial factor for potential investors, developers, and new residents considering long-term viability and growth in the area. Overall, the consistent percentages suggest a steady, though modest, agricultural presence in Washington County.
Number of Mortgages by Occupancy Type in Washington County, RI Over the Last 5 Years in Washington County
Over the last five years in Washington County, Rhode Island, the number of mortgages for principal residences has generally been the highest, peaking in 2020, while second residences and investment properties have seen more variability. Significant drops in principal residence mortgages in 2022 might hint at changing market conditions or buyer preferences. Investors and potential homeowners should consider these trends carefully, as shifts in such data often impact demand and property values. Appraisers and real estate agents can also use these insights to better advise their clients on current market dynamics. Insurance agents and those building property would need to adjust policies and strategies to adapt to these evolving occupancy trends.
Economic Outlook
In Washington County, Rhode Island, the average taxable income per tax return has been on a steady rise, going from $74,056.98 in 2013 to $115,508.36 by 2021. This suggests a robust economic growth, potentially attracting higher-income residents and enhancing real estate investment opportunities. Concurrently, state and local income taxes per tax return also increased significantly, from $6,835.15 in 2012 to $16,232.35 in 2021, implying potential economic vitality but also higher fiscal... Read more
Average Taxable Income per Tax Return in Washington County, RI over the last 9 years
Washington County, Rhode Island has seen a consistent rise in average taxable income per tax return over the past nine years. The average taxable income jumped from around $74,056.98 in 2013 to approximately $115,508.36 by 2021. This trend suggests a robust economic growth, possibly attracting higher-income residents and providing a lucrative environment for real estate investments and property development. For insurance agents, appraisers, and real estate agents, this implies increasing property values and potentially higher premiums.
Average State and Local Income Taxes Per Tax Return in Washington County, RI Over the Last 10 Years
In Washington County, Rhode Island, average state and local income taxes per tax return have shown a consistent upward trajectory over the last decade. In 2012, the figure stood at $6,835.15, which escalated gradually to $7,487.22 by 2015. The most noticeable jump occurred post-2017, with 2018 marking $11,050.63 and reaching $16,232.35 in 2021. This significant increase might indicate growing incomes or an enhanced tax regime, suggesting potential economic vitality but also greater fiscal obligations for residents and investors alike.
Average Total Tax Liability Per Tax Return in Washington County, RI Over the Last 10 Years
In Washington County, Rhode Island, the average total tax liability per tax return has been climbing over the past decade, showcasing steady increases from $12,870.80 in 2012 to a notable peak of $22,726.65 in 2021. This trend suggests a growing financial obligation for residents, which could impact decisions for potential investors and those considering relocating to the area. The significant jump between 2019 and 2021, where liabilities increased by over $6,000.00, might point to economic changes or policy adjustments influencing taxpayer responsibilities. Real estate agents, appraisers, and insurance agents may want to consider these fluctuations as they can affect market conditions and property values.
Cost of Living in Washington County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,851 | $1,749 | $1,483 | $2,243 | $1,810 |
| 1 adult 4 children | $1,851 | $1,429 | $1,138 | $2,243 | $1,981 |
| 2 adults 3 children | $1,851 | $1,429 | $1,285 | $2,243 | $1,557 |
| 1 adult 3 children | $1,851 | $1,167 | $940 | $2,243 | $1,729 |
| 2 adults 2 children | $1,492 | $1,170 | $1,086 | $2,002 | $1,237 |
| 1 adult 2 children | $1,492 | $874 | $741 | $2,002 | $1,338 |
| 2 adults 1 child | $1,492 | $925 | $888 | $1,219 | $1,054 |
| 1 adult 1 child | $1,492 | $597 | $543 | $1,219 | $1,027 |
| 2 adults | $1,243 | $743 | $690 | $0 | $766 |
| 1 adult | $1,157 | $405 | $345 | $0 | $667 |
Safety trends & Data
Washington County, Rhode Island has seen fluctuating property crime trends over the past five years. Notably, larceny-theft peaked in 2020 with 191 incidents, while vandalism was particularly high in 2018 and 2019, exceeding 100 incidents each year. Burglary has generally declined, dropping from 36 incidents in 2018 to 25 in 2022. Fraud saw a dramatic decrease after a high in 2018 but is gradually rising again. These patterns may influence community safety priorities, property values, and... Read more
Property Crime Trends in Washington County, RI Over the Last 5 Years
Washington County, Rhode Island has experienced fluctuations in property crime over the past five years. Larceny-theft consistently remains the most prevalent crime, with a notable peak in 2020 at 191 incidents. Vandalism also shows significant activity, particularly in 2018 and 2019, with over 100 incidents each year. Burglary numbers have generally been on a decline, dropping from 36 in 2018 to 25 in 2022. Interestingly, fraud incidents decreased dramatically after a high in 2018 but appear to be gradually increasing again. These trends may suggest varying priorities for community safety initiatives and could impact property values, insurance premiums, and overall investment attractiveness.
Demographics
Washington County, Rhode Island, shows a slightly higher female adult population. Educational attainment varies, with a significant portion holding bachelor's and graduate or professional degrees, hinting at a well-educated community. The age distribution indicates a balanced mix across different age groups, yet a noticeable bulge in the 55 to 64 years range may suggest an aging population. Most residents identify as White, but there's a small yet present diversity with Asian, Black or African... Read more
Race Distribution in Washington County, Rhode Island (2022)
Educational Attainment in Washington County, Rhode Island (2022)
Age Distribution in Washington County, Rhode Island
Citizen Population in Washington County, Rhode Island (2022)
Political Trends & Data
Washington County, Rhode Island, showed a pronounced leaning toward Democratic candidates in the 2020 U.S. Presidential Election, with about 58.6% of the vote. Republican candidates pulled in around 39.2%, while minor parties like the Libertarian Party and others only captured around 1% each. This political tilt hints at potential shifts in local dynamics, possibly influencing future community and policy... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Washington County in Rhode Island saw a notable preference for Democratic candidates in the 2020 U.S. Presidential Election, with approximately 58.6% of votes going to the Democratic Party. Republican candidates garnered around 39.2% of the vote. Minor parties like the Libertarian and Other parties received a small fraction of total votes, each staying around 1%. This distribution indicates a significant leaning toward Democratic preferences, a trend worth monitoring as it might suggest shifts in political dynamics within the county.
39.20% of voters voted for the Republican party in the 2020 Presidential Election
58.57% of voters voted for the Democrat party in the 2020 Presidential Election
1.13% of voters voted for the Livertarian party in the 2020 Presidential Election
1.09% of voters voted for the Other party in the 2020 Presidential Election
School Data
Washington County, Rhode Island has witnessed a decline in its student-to-teacher ratio, falling from a peak of over 15 students per teacher in 2014 to about 12 in 2023. This lower ratio suggests more personalized attention for students, a factor that might entice families to relocate. Additionally, this trend could positively impact property values, drawing in investors and real estate agents keen on areas with robust educational support, and providing valuable insights for appraisers and... Read more
Student-to-teacher ratio in Washington County, Rhode Island over the last 10 years
Washington County, Rhode Island has seen fluctuations in its student-to-teacher ratio over the past decade, with recent years generally trending below the national average of 14 students per teacher. The ratio peaked at over 15 in 2014 but has since decreased to approximately 12 in 2023. Lower ratios suggest more personalized attention for students, which might appeal to families considering relocation. This could also impact property values positively, attracting investors and real estate agents interested in areas with strong educational support. Such trends might be pertinent for appraisers and insurance agents when assessing property values and risks linked with community services.
