Buchanan County Real Estate and Livability Trends
Buchanan County, Virginia's real estate market showcases a notable affordability with median home values rising from $69,500-$72,300 between 2015 and 2021, hitting $84,900 in 2022. Despite this uptick, growth still trails behind state and national rates, suggesting a less competitive market that's great for long-term investments. Residential energy tax credits increasing to $466.67 in 2021 show a... Read more
Buchanan County Market Trends
Buchanan County, Virginia has experienced relatively stable median home values, ranging from $69,500 to $72,300 between 2015 and 2021, before jumping significantly to $84,900 in 2022. This increase still lags behind both state and national growth rates, suggesting a more affordable, yet less competitive market. The area also saw an increase in residential energy tax credits, peaking at $466.67 in... Read more
Median Value of Occupied Housing Units in Buchanan County, Virginia Over the Last 8 Years
Buchanan County, Virginia, saw relatively stable median home values from 2015 to 2021, hovering between $69,500 and $72,300. However, there's a significant increase to $84,900 in 2022. Nationally, the median value of occupied housing units rose steadily from $125,500 in 2015 to $179,400 in 2022, while Virginia saw an even more pronounced growth, with values increasing from $245,000 to $339,800 over the same period. These trends suggest a slower appreciation in home values in Buchanan County compared to both state and national averages, potentially indicating a more affordable, albeit less competitive, market for prospective homebuyers and investors.
Residential Energy Tax Credit Per Tax Return in Buchanan County, VA Over the Last 6 Years
Buchanan County, Virginia has seen notable fluctuations in the average residential energy tax credit per tax return over the past six years. The tax credit peaked at $466.67 in 2021, a significant jump from the $266.67 seen in 2016. Such variability may indicate changing local policies or shifts in energy efficiency initiatives, which could be relevant for investors, developers, and homeowners aiming to maximize tax benefits. The recent upward trend suggests increasing incentives for residential energy efficiency, potentially making the area more attractive for new energy-efficient housing projects.
Average Real Estate Taxes Per Tax Return in Buchanan County, VA Over the Last 10 Years
Buchanan County, Virginia has seen a marked increase in average real estate taxes per tax return over the past decade, starting at about $966.15 in 2012 and reaching approximately $2028.57 in 2021. This upward trend suggests a steady rise in property values or shifts in tax policy. For potential investors or those looking to move, this could indicate a growing demand for property and possibly a strengthening local economy. Appraisers and real estate agents might find this data valuable for assessing property values and market conditions.
Percentage of Farm Returns in Buchanan County, VA Over the Last 10 Years
Buchanan County, Virginia, has seen farm tax returns hover around the 0.87% to 1.06% range over the past decade. These farm tax returns typically reflect the portion of overall tax filings attributed to agricultural activities in the county. The trend has shown minor fluctuations, indicating some consistency in farming contributions to the local economy. For investors, property developers, or those interested in rural living, these figures suggest a stable but relatively small farming community within Buchanan County.
Number of Mortgages by Occupancy Type in Buchanan County, VA Over the Last 5 Years in Buchanan County
The data on mortgage counts in Buchanan County, Virginia over the last five years suggests that principal residences dominate the market, consistently surpassing 280 mortgages annually, while investment and second residences are notably lower. This trend may matter because a high proportion of principal residences usually implies a stable community, which can be appealing for long-term investments and lower-risk insurance premiums. For investors, understanding the lower volume in investment properties could mean fewer opportunities but potentially less competition. Real estate agents and appraisers might find these trends useful to forecast market demands and advise clients accurately, particularly those looking for residential stability versus investment opportunities. Builders might consider focusing on primary housing due to the apparent demand stability.
Economic Outlook
Buchanan County, Virginia has experienced fluctuating average taxable incomes, from about $42,880.83 in 2016 to around $49,640.32 in 2021, suggesting potential economic improvements that might interest real estate investors and developers. The average state and local income taxes have surged from roughly $6,818.92 in 2012 to $11,550.00 in 2021, possibly indicating rising economic activity or shifts in tax policies. This could impact decisions for investors and residents alike. Additionally, the... Read more
Average Taxable Income per Tax Return in Buchanan County, VA over the last 9 years
Buchanan County, Virginia has seen fluctuations in average taxable income per tax return over the past nine years. From a low of approximately $42,880.83 in 2016, the county witnessed a gradual increase reaching around $49,640.32 in 2021. Trying to discern future trends could be essential for real estate agents, investors, and insurance professionals to understand potential economic shifts in the area. This growth, though inconsistent, may indicate improving economic conditions, making it a potential hotspot for developments and investments.
Average State and Local Income Taxes Per Tax Return in Buchanan County, VA Over the Last 10 Years
Buchanan County, Virginia has seen significant fluctuations in average state and local income taxes per tax return over the past decade. Starting at approximately $6,818.92 in 2012, there's a notable surge, reaching $11,550.00 in 2021. Despite minor dips, particularly in 2016 and 2019, the overall trajectory highlights rising tax burdens. This upward trend may suggest growing economic activity or changes in local tax structures, which could influence decision-making for potential investors, real estate agents, and residents.
Average Total Tax Liability Per Tax Return in Buchanan County, VA Over the Last 10 Years
Buchanan County, Virginia has seen a fluctuating trend in average total tax liability per tax return over the past decade, peaking around $6,744.64 in 2015, and experiencing a marked decline to a low of approximately $5,474.78 in 2018. A notable decrease starting from 2016 can reflect economic shifts or demographic changes impacting tax revenues. For investors, real estate agents, and property developers, these trends may hint at broader economic conditions and potential market volatility in the area. Understanding these subtleties can be crucial for making informed financial and investment decisions.
Cost of Living in Buchanan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $997 | $1,315 | $1,512 | $1,090 | $971 |
| 1 adult 4 children | $997 | $1,074 | $1,154 | $1,090 | $1,085 |
| 2 adults 3 children | $997 | $1,074 | $1,313 | $1,090 | $807 |
| 1 adult 3 children | $997 | $877 | $955 | $1,090 | $836 |
| 2 adults 2 children | $793 | $879 | $1,114 | $948 | $701 |
| 1 adult 2 children | $793 | $657 | $756 | $948 | $652 |
| 2 adults 1 child | $793 | $695 | $915 | $487 | $667 |
| 1 adult 1 child | $793 | $449 | $557 | $487 | $589 |
| 2 adults | $702 | $558 | $716 | $0 | $597 |
| 1 adult | $687 | $305 | $358 | $0 | $544 |
Safety trends & Data
Property crime trends in Buchanan County, Virginia, show fluctuation, especially in larceny-theft, peaking at 77 incidents in 2018 and then varying. Burglary arrests spiked in 2019 and have since stabilized, while motor vehicle thefts remain low at 2 to 6 yearly. A significant rise in forgery and counterfeiting cases was noted in 2022, increasing to 11 from just 2 in 2020. These shifts might influence insurance premiums and real estate valuations, affecting both investors and... Read more
Property Crime Trends in Buchanan County, VA Over the Last 5 Years
Over the last five years in Buchanan County, Virginia, property crime trends reveal fluctuating numbers across various categories. Larceny-theft generally dominates the scene, peaking at 77 incidents in 2018, followed by significant dips and surges. Burglary arrests have shown some fluctuation, with a sharp increase in 2019 and a more recent stabilization. Motor vehicle thefts seem to be relatively low, holding steady between 2 and 6 occurrences annually. Notably, there was a significant rise in forgery and counterfeiting cases in 2022 to 11 arrests from only 2 in 2020. This variability in crime patterns could influence insurance premiums and real estate valuations in the area, impacting both potential investors and current residents.
Demographics
Buchanan County, Virginia presents modest gender diversity with a slightly higher male population. Educational attainment tends toward high school graduation or some college without a degree, with fewer residents holding higher education degrees. Age-wise, the county skews older, likely impacting local services and economic needs. Racially, the region's population is predominantly White, with minimal representation from other racial groups, suggesting limited cultural... Read more
Race Distribution in Buchanan County, Virginia (2022)
Educational Attainment in Buchanan County, Virginia (2022)
Age Distribution in Buchanan County, Virginia
Citizen Population in Buchanan County, Virginia (2022)
Political Trends & Data
In Buchanan County, Virginia, the 2020 U.S. Presidential Election results suggest a strong conservative leaning, with approximately 83% of votes cast for the Republican party. Democrats managed to secure about 16% of the vote, while Libertarians and other parties made minimal impact. This prevailing political climate might influence the local real estate market, potentially attracting buyers and investors who favor conservative... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Buchanan County, Virginia, the 2020 U.S. Presidential Election saw an overwhelming preference for the Republican party with about 83% of the vote. Democrats trailed significantly, garnering roughly 16%, while Libertarians and other parties combined barely made an impact. This could indicate a strong conservative leaning in this region.
83.47% of voters voted for the Republican party in the 2020 Presidential Election
15.94% of voters voted for the Democrat party in the 2020 Presidential Election
0.44% of voters voted for the Livertarian party in the 2020 Presidential Election
0.15% of voters voted for the Other party in the 2020 Presidential Election
School Data
Buchanan County, Virginia has seen its student-to-teacher ratio fluctuate from 12 in 2014 to 13 in 2019 before settling close to 12 recently, all consistently below the national average of 14. This lower ratio may suggest smaller class sizes and potentially better educational outcomes, making the area attractive to prospective families and investors. Real estate agents might find this data useful in justifying property values, while insurance agents could consider the educational benefits when... Read more
Student-to-teacher ratio in Buchanan County, Virginia over the last 10 years
Over the past decade, Buchanan County, Virginia has experienced fluctuations in its student-to-teacher ratio, starting at 12 in 2014 and peaking at 13 in 2019 before dipping to nearly 12 in recent years. With ratios consistently below the national average of 14 students per teacher, the lower ratios could indicate smaller class sizes, potentially enhancing educational outcomes. Investors and families considering moving to Buchanan County might view these trends favorably due to the more personalized attention students might receive. Real estate agents and appraisers could leverage this data to justify investments and property values in the area, while insurance agents might factor in these educational strengths when assessing community risk profiles. For those building properties, understanding these trends could guide them in choosing optimal locations near preferred schools.
