Bedford County Real Estate and Livability Trends
In Bedford County, Virginia, average taxable income per tax return has jumped from $59,054.10 in 2013 to $82,379.62 in 2021, indicating rising prosperity. Median home values climbed from $196,500 in 2015 to $263,900 in 2022, suggesting robust demand. Meanwhile, property crime shows larceny-theft peaking at 120 incidents in 2022, which could influence property insurance rates. The county's poverty... Read more
Bedford County Market Trends
Median home values in Bedford County, Virginia, surged from $196,500 in 2015 to $263,900 in 2022, outpacing the national rate but just below the state median. The Residential Energy Tax Credit in this area also hit notable highs, peaking at $2,844.44 in 2018, indicating a sporadic yet significant investment in energy-efficient upgrades. Real estate taxes have climbed from $1,667.80 in 2012 to... Read more
Median Value of Occupied Housing Units in Bedford County, Virginia Over the Last 8 Years
Median home values in Bedford County, Virginia, have experienced a steady uptick over the past eight years, nearly doubling from $196,500 in 2015 to $263,900 in 2022. This growth is significant when compared to the national median, which increased from $125,500 to $179,400 during the same period, and slightly trailing the state median, which rose from $245,000 to $339,800. For investors or potential residents, Bedford County offers a rising market with room for appreciation, suggesting promising opportunities in real estate.
Residential Energy Tax Credit Per Tax Return in Bedford County, VA Over the Last 9 Years
Over the last nine years, the Residential Energy Tax Credit per tax return in Bedford County, Virginia, has shown notable fluctuations, particularly with a significant jump to $2,844.44 in 2018. This spike reflects a growing interest or increased expenditures towards energy-efficient installations that fiscal year. The credit amounts tend to vary, with another peak in 2021 at $1,715.63, signaling an ongoing yet irregular trend towards investing in energy-saving measures. This data is essential for investors, builders, and real estate professionals as it highlights a potential uptrend in energy-efficient renovations, possibly linked to broader environmental or financial incentives in the region.
Average Real Estate Taxes Per Tax Return in Bedford County, VA Over the Last 10 Years
Real estate taxes per tax return in Bedford County, Virginia have seen a notable upward trajectory over the past decade, starting at approximately $1,667.80 in 2012 and peaking at around $2,783.28 in 2020, with a slight decrease to $2,738.06 by 2021. The most significant jumps appear between 2017 and 2018, where the average increased by over $600. These trends may suggest increasing property values and potentially higher market demand in the county, which could be of particular interest to investors, real estate agents, and those looking to move to the area. Appraisers and insurance agents might also want to consider these rising taxes when valuing or insuring properties in Bedford County.
Percentage of Farm Returns in Bedford County, VA Over the Last 10 Years
Percentage of farm tax returns in Bedford County, Virginia has shown a subtle decline over the last decade, dropping from around 3.06% in 2012 to roughly 2.77% in 2021. This trend might indicate a slow but consistent shift away from agriculture-dependent income in the area. For those considering investing, moving to, or developing property in Bedford County, understanding these trends could be crucial. Potential investors should evaluate the long-term viability of agricultural investments, while those looking to settle here might find diversity in job sectors as a growing necessity. Farm tax returns, in this context, mark the filings indicating income primarily generated from farming activities, thus reflecting the agricultural economic health of the region.
Number of Mortgages by Occupancy Type in Bedford County, VA Over the Last 5 Years in Bedford County
In Bedford County, Virginia, the number of mortgages for principal residences has generally shown a significant increase, peaking notably in 2021. However, investments and second residences display fluctuating trends, with declines seen in both categories for 2022. These shifts in occupancy type can provide crucial insights for potential investors and local real estate agents, as demand for principal residences suggests a stable or growing residential market, while changes in investment and second home purchases might indicate varying levels of investor confidence or market saturation. Understanding these trends can help appraisors adjust valuations accurately and insurance agents assess risk and coverage needs effectively.
Economic Outlook
In Bedford County, Virginia, the average taxable income per tax return has consistently increased, from $59,054.10 in 2013 to $82,379.62 in 2021, suggesting a trend of rising affluence. State and local income taxes have similarly climbed from $5,456.78 in 2012 to a peak of $12,840.88 in 2021, possibly reflecting a thriving economy or changing tax policies. Meanwhile, total tax liabilities have also grown, indicating a wealthier population but potentially higher living costs for buyers and... Read more
Average Taxable Income per Tax Return in Bedford County, VA over the last 9 years
Over the past nine years in Bedford County, Virginia, average taxable income per tax return has generally shown an uptick, with notable increases from $59,054.10 in 2013 to $82,379.62 in 2021. This trend might be attractive for potential investors and real estate agents considering the growing affluence in the area. For those looking to build property, the rising incomes could suggest a supportive market environment. Insurance agents and appraisers may also find these trends useful for risk assessment and valuation purposes.
Average State and Local Income Taxes Per Tax Return in Bedford County, VA Over the Last 10 Years
Over the past decade, Bedford County, Virginia has seen a significant increase in average state and local income taxes per tax return, rising from $5,456.78 in 2012 to a peak of $12,840.88 in 2021. This upward trend may suggest a thriving economy or changes in tax policies. These shifts could be particularly relevant for potential investors, homebuyers, appraisers, and others with financial interests in the region, as they might indicate evolving economic conditions and an increasing cost of living.
Average Total Tax Liability Per Tax Return in Bedford County, VA Over the Last 10 Years
Over the past decade in Bedford County, Virginia, there has generally been an upward trend in the average total tax liability per tax return, noticeably jumping from $8,828.75 in 2012 to $12,950.36 in 2021. This growth could signify increasing income levels or changing tax policies impacting residents. Investors and real estate professionals may find this indicative of an area experiencing economic growth, potentially making it a more attractive market. However, for tenants and property buyers, these rising tax liabilities could signal higher costs of living in the future. Insurance agents and appraisers may see this trend as a sign of changing valuations in the region.
Cost of Living in Bedford County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,314 | $1,460 | $1,628 | $1,293 | $1,318 |
| 1 adult 4 children | $1,314 | $1,192 | $1,242 | $1,293 | $1,465 |
| 2 adults 3 children | $1,314 | $1,193 | $1,413 | $1,293 | $1,092 |
| 1 adult 3 children | $1,314 | $974 | $1,028 | $1,293 | $1,222 |
| 2 adults 2 children | $967 | $976 | $1,199 | $1,127 | $904 |
| 1 adult 2 children | $967 | $729 | $814 | $1,127 | $896 |
| 2 adults 1 child | $967 | $772 | $985 | $589 | $836 |
| 1 adult 1 child | $967 | $498 | $600 | $589 | $723 |
| 2 adults | $852 | $620 | $771 | $0 | $700 |
| 1 adult | $837 | $338 | $385 | $0 | $628 |
Safety trends & Data
Property crime in Bedford County, Virginia, shows mixed trends over the past five years. Larceny-theft remains a significant concern with numbers peaking at 120 incidents in 2022. Fraud cases increased remarkably to 53 instances in 2022. Meanwhile, burglary incidents have generally declined from 23 in 2019 to just 6 in 2022, and vandalism incidents display inconsistent patterns. These crime trends could potentially impact property insurance rates and offer valuable insights for real estate... Read more
Property Crime Trends in Bedford County, VA Over the Last 5 Years
Property crime in Bedford County, Virginia, shows mixed trends over the past five years. Notably, larceny-theft remains a significant concern with fluctuating numbers, peaking at 120 incidents in 2022. Fraud cases also saw a notable increase, reaching 53 instances in 2022. Burglary incidents have generally declined from 23 in 2019 to just 6 in 2022, while vandalism incidents have shown variability, suggesting inconsistent patterns in property-related damages. These trends may impact residential and commercial property insurance rates and could provide insight for real estate agents and investors assessing the security and desirability of the area.
Demographics
Bedford County, Virginia shows a nearly balanced gender distribution with a slight female majority. Education levels suggest a population with a strong high school completion rate but fewer residents holding advanced degrees. Age distribution trends highlight a significant proportion of the population in mid and late adulthood, indicating potential needs for age-related services and planning. Racially, the population is predominantly White with smaller representations of other groups,... Read more
Race Distribution in Bedford County, Virginia (2022)
Educational Attainment in Bedford County, Virginia (2022)
Age Distribution in Bedford County, Virginia
Citizen Population in Bedford County, Virginia (2022)
Political Trends & Data
Bedford County, Virginia, leans heavily Republican, with the 2020 U.S. Presidential Election results indicating the GOP captured around 73% of the vote. In contrast, the Democratic candidate lagged significantly with approximately 25%, and the Libertarian party managed to garner about 1.5%. This trend could hint at a predominantly conservative region with a slight but interesting presence of third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Bedford County, Virginia, the 2020 U.S. Presidential Election saw a dominant lean towards the Republican party, capturing an estimated 73% of the votes. The Democratic candidate likely secured around 25%, while the Libertarian party drew roughly 1.5%. Minor parties, including the Green party, garnered minimal support. This voting pattern might suggest a solidly conservative county with limited but noteworthy support for third-party candidates.
73.15% of voters voted for the Republican party in the 2020 Presidential Election
25.02% of voters voted for the Democrat party in the 2020 Presidential Election
1.45% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
Bedford County, Virginia, has experienced notable fluctuations in its student-to-teacher ratio, peaking at nearly 17 students per teacher in 2015 and dipping to around 13 students per teacher in 2021. The current ratio is just below the national average of 14 students per teacher. These trends may indicate evolving educational resources and could influence local property values. Lower ratios, especially, suggest smaller class sizes and more personalized attention for students, potentially... Read more
Student-to-teacher ratio in Bedford County, Virginia over the last 10 years
Bedford County, Virginia, has seen notable fluctuations in its student-to-teacher ratio over the past decade, with a peak of nearly seventeen students per teacher in 2015 and a low of approximately thirteen students per teacher in 2021. The current ratio hovers just below the national average of fourteen students per teacher. For prospective investors, real estate agents, and families considering the area, these changes might suggest evolving educational resources and potential impacts on local property values. Lower ratios, as seen in recent years, could indicate smaller class sizes and more personalized attention for students, a factor that is often appealing to parents and can impact real estate demand positively.
