Buckingham County Real Estate and Livability Trends
Buckingham County, Virginia, presents an intriguing real estate market. Median home values rose to $160,800 in 2022, significantly below the state and national averages, potentially attracting budget-conscious buyers. Average taxable incomes climbed from $39,449.02 in 2013 to $53,631.38 in 2021, suggesting economic growth. The uptick in residential energy tax credits in 2020 points to heightened... Read more
Buckingham County Market Trends
Buckingham County, Virginia, presents a compelling market with its median home values rising to $160,800 in 2022, much lower compared to the state ($339,800) and national ($179,400) averages. This affordability might attract investors and homebuyers looking for a more budget-friendly option within Virginia. An interesting trend is the sharp rise in residential energy tax credits per return,... Read more
Median Value of Occupied Housing Units in Buckingham County, Virginia Over the Last 8 Years
Buckingham County, Virginia has seen fluctuating yet generally upward trends in median home values over the last eight years, reaching $160,800 in 2022. Compared to the state average of $339,800 and the national average of $179,400 for the same year, Buckingham County presents a more affordable option for potential investors or homebuyers. This relative affordability could make it an attractive area for those looking to capitalize on the housing market trends while remaining within Virginia.
Residential Energy Tax Credit Per Tax Return in Buckingham County, VA Over the Last 9 Years
Over the last nine years, Buckingham County residents have seen a notable increase in the average residential energy tax credit per tax return. Starting at $391.67 in 2013, the value fluctuated before skyrocketing in recent years, hitting $1,230.00 in 2020 and slightly dropping to $1,150.00 in 2021. This trend may indicate growing investments in energy-efficient home improvements, which can attract investors and homeowners looking to benefit from these incentives. Real estate agents and appraisers might see these values as indicative of a market that increasingly prioritizes sustainability, potentially impacting property values and demand in the region.
Average Real Estate Taxes Per Tax Return in Buckingham County, VA Over the Last 10 Years
Over the past decade, Buckingham County, Virginia, has seen a noticeable increase in average real estate taxes per tax return, starting at $1,346.77 in 2012 and rising to $2,330.43 by 2021. This upward trend, especially the significant jump between 2017 and 2018, might indicate a growing real estate market and rising property values. For potential investors and those considering moving to the area, this could signal both an appreciating asset and higher costs. Real estate agents and appraisers would benefit from understanding these trends for client advisories and accurate property valuation. Insurance agents might also need to account for these increases when determining premiums.
Percentage of Farm Returns in Buckingham County, VA Over the Last 10 Years
Buckingham County, Virginia, has shown some fluctuation in farm tax returns over the last decade, ranging from approximately 4.22% to 4.95%. Farm tax returns, in this context, represent the percentage of all tax returns filed within the county that come from agricultural businesses. Investors, new residents, and developers might find this data relevant as it subtly indicates the county's agricultural economic activity level. Consequently, those looking to invest in or develop farmland, or even just considering the local market dynamics, should note these trends.
Number of Mortgages by Occupancy Type in Buckingham County, VA Over the Last 5 Years in Buckingham County
In Buckingham County, Virginia, over the last five years, the bulk of mortgages were for principal residences, with a notable peak in 2021 when they reached 860. Investment properties and second residences had relatively lower and stable numbers, hovering around the 20s. This trend may hint at a stable but not booming rental and vacation property market, emphasizing the importance of principal residences. For investors, this could mean less competition in the investment property segment, while developers might see opportunities in catering to the demand for primary homes. Real estate agents and appraisers can utilize this data to set realistic expectations and valuations, and insurance agents might adjust their offerings to align with the predominant occupancy types.
Economic Outlook
Over the past nine years, Buckingham County, Virginia has seen a steady rise in average taxable income per tax return, from $39,449.02 in 2013 to $53,631.38 in 2021. Parallelly, average state and local income taxes also increased, peaking at $6,253.85 in 2020 before slightly declining. The notable spikes and dips in total tax liability per tax return, especially the rise to $6,577.71 in 2021, could point to economic shifts or policy changes. These trends might interest investors, appraisers,... Read more
Average Taxable Income per Tax Return in Buckingham County, VA over the last 9 years
Over the past nine years, Buckingham County, Virginia has seen a steady increase in average taxable income per tax return, growing from approximately $39,449.02 in 2013 to around $53,631.38 by 2021. This upward trend could indicate a strengthening local economy, potentially making the area more attractive to investors, real estate agents, and new residents. Although there wasn't a dramatic spike in any single year, the gradual growth suggests a stable financial environment which might also appeal to appraisers and insurance agents aiming to assess property and individual wealth.
Average State and Local Income Taxes Per Tax Return in Buckingham County, VA Over the Last 10 Years
Over the past decade, Buckingham County, Virginia has experienced a notable increase in average state and local income taxes per tax return. From $3,600.79 in 2012, this figure has seen fluctuations, with a notable jump to $5,379.31 in 2018 and peaking at $6,253.85 in 2020 before slightly declining to $5,840.00 in 2021. This trend suggests a growing fiscal burden that could impact decisions for those considering investment, relocation, or property development in the area, and may inform the strategies of appraisers, insurance agents, and real estate professionals.
Average Total Tax Liability Per Tax Return in Buckingham County, VA Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Buckingham County, Virginia has shown a general upward trend, peaking dramatically in 2021 at $6,577.71. Noteworthy fluctuations include a noticeable dip in 2019 to $5,315.86 followed by a swift rise in subsequent years. This trend could suggest underlying economic shifts or policy changes impacting local taxpayers. Potential investors and real estate professionals might view the increasing tax liabilities as indicative of evolving economic conditions or improvements in local infrastructure and services.
Cost of Living in Buckingham County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,087 | $1,367 | $1,512 | $938 | $988 |
| 1 adult 4 children | $1,087 | $1,117 | $1,154 | $938 | $1,103 |
| 2 adults 3 children | $1,087 | $1,117 | $1,313 | $938 | $819 |
| 1 adult 3 children | $1,087 | $912 | $955 | $938 | $851 |
| 2 adults 2 children | $849 | $914 | $1,114 | $820 | $706 |
| 1 adult 2 children | $849 | $683 | $756 | $820 | $659 |
| 2 adults 1 child | $849 | $723 | $915 | $436 | $694 |
| 1 adult 1 child | $849 | $467 | $557 | $436 | $617 |
| 2 adults | $742 | $581 | $716 | $0 | $633 |
| 1 adult | $630 | $317 | $358 | $0 | $550 |
Safety trends & Data
Over the past five years in Buckingham County, Virginia, larceny-theft has dominated property crime, peaking at 19 arrests in 2022. Burglary incidents notably increased to 11 arrests per year in 2021 and 2022, while motor vehicle thefts spiked to 8 arrests in 2021. Fraud and embezzlement remain concerns despite fluctuations. Vandalism saw a sharp rise in 2020 but has decreased since. The overall property crime landscape shows varied trends, with larceny-theft as the primary... Read more
Property Crime Trends in Buckingham County, VA Over the Last 5 Years
Over the past five years in Buckingham County, Virginia, property crime trends reveal interesting data points that may influence investment or relocation decisions. Larceny-theft consistently dominates the crime landscape, peaking at 19 arrests in 2022. Burglary incidents saw a notable increase in 2021 and 2022 with 11 arrests per year. Motor vehicle thefts, while generally low, spiked to 8 arrests in 2021. Fraud and embezzlement have fluctuated but remain a concern. Vandalism saw a sharp rise in 2020 but decreased thereafter. Overall, while certain types of property crimes have seen significant fluctuations, larceny-theft remains the primary issue.
Demographics
Buckingham County, Virginia exhibits a rather significant gender disparity favoring males within its adult population. Educational attainment shows a concentration in high school graduates, with noteworthy numbers also stopping at some college but without completing a degree. Age distribution appears fairly balanced, but there is a substantial concentration in the 25 to 64-year range, which could indicate a robust working-age population. In terms of racial demographics, the county is... Read more
Race Distribution in Buckingham County, Virginia (2022)
Educational Attainment in Buckingham County, Virginia (2022)
Age Distribution in Buckingham County, Virginia
Citizen Population in Buckingham County, Virginia (2022)
Political Trends & Data
Buckingham County, Virginia, could be characterized by a predominantly conservative voter base, with the Republican party potentially leading the 2020 Presidential Election at around 55.9%. The Democratic party might trail at approximately 42.7%, and minor parties may collectively barely surpass 1% of the vote. This skew could shed light on the political climate of the area, which might influence various aspects of the local real estate market, ranging from buyer preferences to policy... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Buckingham County, Virginia, the 2020 U.S. Presidential Election saw the Republican party potentially leading with approximately 55.9% of the vote. The Democratic party possibly captured around 42.7%, trailing the Republicans by a notable margin. Minor parties like the Libertarians and others maybe barely made a dent, with their combined votes hovering just above 1%. This distribution of votes might suggest a predominantly conservative voter base with limited traction for third-party candidates.
55.90% of voters voted for the Republican party in the 2020 Presidential Election
42.70% of voters voted for the Democrat party in the 2020 Presidential Election
1.14% of voters voted for the Livertarian party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Buckingham County, Virginia, has seen its student-to-teacher ratio drop from a peak of 16 students per teacher in 2015 to a low of 12 in 2023, falling well below the national average of 14. This trend could make the area more attractive to families seeking better educational outcomes, potentially driving up housing demand. For real estate investors, appraisers, and insurance agents, improving school conditions might indicate stable or rising property... Read more
Student-to-teacher ratio in Buckingham County, Virginia over the last 10 years
Over the last decade, Buckingham County, Virginia has seen its student-to-teacher ratio fluctuate, peaking at 16 students per teacher in 2015 and reaching its lowest point at 12 in 2023. This shift from being slightly above the national average of 14 students per teacher to falling well below it could signal a more favorable learning environment, which might attract families seeking better educational outcomes for their children. For those in real estate and property investment, this trend might drive higher demand for housing in the area as it becomes more appealing to potential residents. Appraisers and insurance agents might also find this information useful as improving school conditions can contribute to property value stability or appreciation.
