Bristol city Real Estate and Livability Trends
In Bristol City, Virginia, median home values have surged from $114,500 in 2015 to $154,900 in 2022, still trailing behind state and national averages. Average real estate taxes also climbed dramatically from $1,716.38 in 2012 to $4,305.00 in 2021, possibly mirroring rising property values or tax changes. With residential energy tax credits rising from $244.44 in 2016 to $650.00 in 2021, the... Read more
Bristol city Market Trends
In Bristol City, Virginia, median home values jumped from $114,500 in 2015 to $154,900 in 2022, still trailing behind state and national averages. Residential energy tax credits climbed from $244.44 in 2016 to $650.00 in 2021, hinting at a community committed to energy efficiency, a potential draw for sustainable development. Average real estate taxes have surged from $1,716.38 in 2012 to... Read more
Median Value of Occupied Housing Units in Bristol city, Virginia Over the Last 8 Years
In Bristol city, Virginia, the median home values have seen a significant rise over the past eight years, jumping from $114,500 in 2015 to $154,900 in 2022. This increase, although pronounced, still positions Bristol well below both state and national averages. Virginia's median home values surged from $245,000 to $339,800 during the same period, while national figures went from $125,500 to $179,400. For investors or buyers, Bristol's more accessible pricing could present a unique opportunity compared to broader trends in Virginia and across the U.S.
Residential Energy Tax Credit Per Tax Return in Bristol city, VA Over the Last 8 Years
Bristol city, Virginia has experienced fluctuating but generally increasing trends in residential energy tax credits per tax return over the past eight years. From a low of around $244.44 in 2016, the average credit has steadily risen, reaching a noteworthy $650.00 in 2021. This trend potentially indicates growing investments in energy-efficient home improvements and renewable energy installations, making it an appealing area for investors, appraisers, real estate agents, and insurance agents looking to capitalize on sustainable upgrades. For those considering property development or relocation, these incentives point to a community embracing modern energy solutions.
Average Real Estate Taxes Per Tax Return in Bristol city, VA Over the Last 10 Years
Bristol city, Virginia has seen a notable upward trend in average real estate taxes over the past decade, with figures starting at approximately $1,716.38 in 2012 and rising to about $4,305.00 by 2021. This substantial increase, peaking dramatically after 2017, suggests a considerable rise in property values or changes in tax policies, making it crucial for potential investors, homebuyers, and real estate professionals to consider these dynamics. Insurance agents and appraisers should also take note of this shift, as it could impact property assessments and premiums.
Percentage of Farm Returns in Bristol city, VA Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Bristol city, Virginia has generally hovered around 0.50% to 0.70%, with a slight downward trend more apparent from 2017 onwards. This metric indicates the proportion of tax returns filed by farm owners out of the total tax returns. A decreasing trend could suggest shifts in local agricultural practices, economic factors affecting small-scale farming, or changes in the population's industrial engagement. For investors or those considering relocating, these figures might hint at a community with diminishing farming activities, potentially translating to evolving land use patterns and availability of agricultural properties. Investors might need to explore what these subtle changes imply for future economic and residential developments in Bristol city.
Number of Mortgages by Occupancy Type in Bristol city, VA Over the Last 5 Years in Bristol city
In Bristol city, Virginia, the mortgage trends over the last five years indicate a noticeable preference for principal residences, with these consistently holding the largest share each year. The demand for investment properties has shown variability with a peak in 2021 and a drop in subsequent years, possibly hinting at changing market dynamics or investor confidence. Second residences remain the least common, suggesting limited interest in vacation homes or temporary living situations. These shifts in occupancy type can influence property values, rental market stability, and insurance premiums, making them critical for potential investors, insurance agents, and real estate professionals to consider.
Economic Outlook
In Bristol city, Virginia, the average taxable income per tax return has mostly hovered in the low $40,000 range over the past nine years, with a significant spike to $50,405.73 in 2021. This increase could point to burgeoning economic growth or demographic shifts. Alongside, local and state income taxes have trended upward, reaching around $12,270.00 by 2021, suggesting rising incomes or potential tax policy changes. Meanwhile, average total tax liability per tax return dipped to $5,486.92 in... Read more
Average Taxable Income per Tax Return in Bristol city, VA over the last 9 years
Bristol city, Virginia, shows fluctuating trends in average taxable income per tax return over the last nine years, hovering mostly in the low $40,000 range. However, the year 2021 stands out with a notable increase to $50,405.73, suggesting possible economic growth or a shift in the demographic profile. For potential investors or those considering a move, this increase could signal improving financial opportunities or a recovering local economy, making it an interesting time to delve into the area's real estate market and economic development.
Average State and Local Income Taxes Per Tax Return in Bristol city, VA Over the Last 10 Years
Average state and local income taxes per tax return in Bristol city, Virginia, have seen a noticeable upward trend over the last decade. Starting at around $4,256.64 in 2012, the figures gradually increased, peaking at approximately $12,270.00 by 2021. This steady climb could hint at various economic factors at play, such as rising incomes or changes in tax policy. For investors and potential homeowners, this trend might indicate a growing economic base or shifting fiscal landscape in the area. For appraisers and insurance agents, these changes could also reflect on property values and cost assessments in Bristol city.
Average Total Tax Liability Per Tax Return in Bristol city, VA Over the Last 10 Years
Bristol city, Virginia has shown fluctuations in average total tax liability per tax return over the last decade, with a notable dip in 2016 to $5,486.92 but rebounding significantly by 2021 to $7,077.84. Such variability might indicate underlying economic shifts, affecting everything from property values to employment rates. Investors and real estate agents should consider these trends, as they may impact decisions on property development and valuations. Additionally, insurance agents and appraisers might find the data useful for assessing regional risk and asset worth.
Cost of Living in Bristol city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,075 | $1,464 | $1,545 | $1,141 | $994 |
| 1 adult 4 children | $1,075 | $1,195 | $1,178 | $1,141 | $1,088 |
| 2 adults 3 children | $1,075 | $1,196 | $1,342 | $1,141 | $818 |
| 1 adult 3 children | $1,075 | $976 | $975 | $1,141 | $837 |
| 2 adults 2 children | $819 | $979 | $1,139 | $999 | $691 |
| 1 adult 2 children | $819 | $731 | $772 | $999 | $625 |
| 2 adults 1 child | $819 | $774 | $936 | $538 | $656 |
| 1 adult 1 child | $819 | $500 | $569 | $538 | $569 |
| 2 adults | $647 | $622 | $733 | $0 | $548 |
| 1 adult | $602 | $339 | $367 | $0 | $484 |
Safety trends & Data
Property crime trends in Bristol City, Virginia have fluctuated over the last five years, notably seeing larceny-theft peak in 2020 with 101 cases and drop to 55 by 2022. Burglary incidents also spiked around 2020 and 2021 but decreased to 10 by 2022. Consistent fraud and vandalism, alongside stable motor vehicle theft rates, may influence insurance premiums and real estate appeal, impacting investment and development... Read more
Property Crime Trends in Bristol city, VA Over the Last 5 Years
Property crime trends in Bristol city, Virginia over the last five years show a marked fluctuation in several categories. Larceny-theft saw the highest numbers, peaking in 2020 with 101 cases but dropping significantly to 55 cases by 2022. Burglary incidents spiked in 2020 and 2021, with 15 and 17 cases respectively, but reduced to 10 by 2022. Fraud and vandalism have shown some variance but remain consistent, while motor vehicle theft hovered around 9-13 cases each year. This varied crime landscape could influence insurance premiums and real estate desirability, guiding decisions for those looking to invest or build property in the area.
Demographics
Bristol city in Virginia shows a slightly higher female population compared to males. Educational attainment is diverse, with a significant portion having completed high school, while higher education degrees are less common. Age-wise, the municipality has a balanced distribution, though there's a noticeable lean towards older age groups. The racial makeup is predominantly White, with smaller representations of Black or African American and other races. This demographic snapshot provides... Read more
Race Distribution in Bristol city, Virginia (2022)
Educational Attainment in Bristol city, Virginia (2022)
Age Distribution in Bristol city, Virginia
Citizen Population in Bristol city, Virginia (2022)
Political Trends & Data
Bristol City, Virginia, exhibited a significant lean towards the Republican party in the 2020 U.S. Presidential Election, hinting at a predominant conservative base. The Democrats secured less than a third of the votes, while minor parties, including the Libertarians, had minimal impact. The political landscape is largely dominated by the two major parties, which could influence various socio-economic factors, including potential real estate trends and investment opportunities in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Bristol City in Virginia saw an overwhelming preference for the Republican party in the 2020 U.S. Presidential Election, potentially reflecting a strong conservative base. The Democrats trailed significantly, capturing less than a third of the vote share. Minor parties such as the Libertarians and others barely made a dent, indicating limited influence beyond the two major parties.
68.43% of voters voted for the Republican party in the 2020 Presidential Election
29.60% of voters voted for the Democrat party in the 2020 Presidential Election
1.60% of voters voted for the Livertarian party in the 2020 Presidential Election
0.37% of voters voted for the Other party in the 2020 Presidential Election
School Data
Bristol City, Virginia's student-to-teacher ratio has generally hovered around the national average of 14 students per teacher, dipping to 12 in 2022. This trend may interest families prioritizing education, as well as real estate agents and investors leveraging these figures in market strategies. For insurers and appraisers, a lower ratio might indicate a community with a strong emphasis on quality education, potentially impacting property values and risk... Read more
Student-to-teacher ratio in Bristol City, Virginia over the last 10 years
The student-to-teacher ratio in Bristol City, Virginia has experienced fluctuations over the past decade, generally hovering around the national average of 14 students per teacher. Notably, a significant drop to 12 students per teacher was seen in 2022, offering a more favorable environment for individualized attention compared to the broader US. Such trends may be of interest to families considering relocating for educational opportunities, as well as to real estate agents and investors who can leverage these figures in their market strategies. For insurers and appraisers, a lower ratio could potentially signify a strengthening community with a greater emphasis on quality education, impacting property values and risk assessments.
