Caroline County Real Estate and Livability Trends
In Caroline County, Virginia, noticeable economic changes have been observed, including an uptick in average taxable income and median home values, potentially making it an enticing spot for new residents and investors. Rising real estate taxes and average total tax liabilities indicate ongoing property value appreciation or tax modifications. The growing prevalence of energy tax credits reveals... Read more
Caroline County Market Trends
The median home value in Caroline County, Virginia has risen steadily from $186,800 in 2015 to $253,300 in 2022, presenting an affordable investment opportunity compared to Virginia’s higher state median. Despite the rising costs, Caroline County remains more affordable than the national median, suggesting a mid-tier potential for real estate appreciation. Average residential energy tax credits... Read more
Median Value of Occupied Housing Units in Caroline County, Virginia Over the Last 8 Years
The median home value in Caroline County, Virginia has shown a consistent upward trend over the past eight years, increasing from $186,800 in 2015 to $253,300 in 2022. While these numbers reflect substantial growth, they still fall below Virginia's state median, which rose from $245,000 to $339,800 within the same period, and highlight an opportunity for more affordable investments compared to the state level. However, Caroline County's home values are significantly above the national median, which increased from $125,500 to $179,400, making it a mid-tier option for real estate investments with potential for appreciation.
Residential Energy Tax Credit Per Tax Return in Caroline County, VA Over the Last 9 Years
The data shows fluctuating yet generally increasing values for the average residential energy tax credit per tax return in Caroline County, Virginia over the last nine years. Starting from $379.31 in 2013, the credit amount surged significantly, peaking at $2,483.33 in 2018 and holding strong with $2,175.00 in 2021. This trend may indicate growing investments in energy-efficient home improvements among residents, making it an attractive prospect for investors, homeowners, and real estate professionals focusing on sustainability. Appraisers and insurance agents could also note the enhancing property values due to these energy-efficient improvements, reflecting a progressive shift towards green living in the county.
Average Real Estate Taxes Per Tax Return in Caroline County, VA Over the Last 10 Years
In the last decade, Caroline County, Virginia has experienced a noticeable increase in average real estate taxes per tax return, rising from approximately $1,794.34 in 2012 to around $2,835.20 in 2021. Significant jumps were observed around 2014 and 2018, reflecting possible property value appreciations or changes in tax policy. This trend matters for those considering real estate investments, as the upward trajectory in taxes could impact overall carrying costs of property in the area. It may also influence the decision-making of potential homeowners and developers evaluating the long-term financial commitments in Caroline County.
Percentage of Farm Returns in Caroline County, VA Over the Last 10 Years
Farm tax returns in Caroline County, Virginia, have experienced a gradual decline over the past decade, dropping from 1.26% in 2012 to approximately 0.85% in 2021. These returns represent the proportion of income tax returns that include farming income, reflecting the presence and economic contribution of agricultural operations in the county. Investors, prospective residents, and developers might find this trend noteworthy as it could suggest a shift away from agricultural activities, possibly indicating evolving land use patterns or economic diversification in the region.
Number of Mortgages by Occupancy Type in Caroline County, VA Over the Last 5 Years in Caroline County
In Caroline County, Virginia, the number of mortgages for principal residences consistently outpaces those for investment properties and second residences. While mortgages for principal residences peaked in 2021 with 3,743, investment properties and second residences have shown more modest and relatively stable numbers. For investors, changes in occupancy type could signal shifts in the housing market and local economy, impacting potential returns and demand. Those moving to the area or building property might find evolving mortgage data indicative of community growth. Real estate professionals and insurance agents can use these trends to better assess risk and opportunities tailored to specific buyer profiles.
Economic Outlook
In Caroline County, Virginia, average taxable income per tax return has notably increased from approximately $49,928.99 in 2013 to $64,627.99 in 2021, indicating potential economic growth that could entice investors and new residents. However, the county has also experienced a significant rise in average state and local income taxes, jumping from $4,051.33 in 2012 to approximately $6,053.33 in 2021, potentially impacting investment decisions and homebuyer demand. Furthermore, the average total... Read more
Average Taxable Income per Tax Return in Caroline County, VA over the last 9 years
In Caroline County, Virginia, there's been a noticeable upward trend in average taxable income per tax return over the past nine years. Between 2013 and 2021, this average increased from approximately $49,928.99 to $64,627.99. While there was a minor dip in 2016, the overall growth suggests a healthy economic environment, potentially making it an appealing region for investors and those moving. The increase could indicate rising wages and an improving local economy, aspects that are crucial for property developers and real estate professionals when assessing long-term growth potential.
Average State and Local Income Taxes Per Tax Return in Caroline County, VA Over the Last 10 Years
Caroline County, Virginia has seen a notable upward trend in average state and local income taxes per tax return over the past decade, climbing from $4,051.33 in 2012 to approximately $6,053.33 in 2021. This increase suggests a rising tax burden, which might influence decisions for potential investors, homebuyers, and those assessing the overall economic environment. The steepest increase appears to have occurred between 2017 and 2018, roughly coinciding with broader economic shifts. This data is crucial for real estate agents and appraisers as it impacts property valuation perceptions and investment attractiveness.
Average Total Tax Liability Per Tax Return in Caroline County, VA Over the Last 10 Years
Caroline County, Virginia has seen a notable rise in average total tax liability per tax return over the past decade, with amounts fluctuating but generally trending upwards. From $6,365.04 in 2012 to $8,372.41 in 2021, taxpayers are seeing increased burdens, peaking in 2021. This suggests that potential homeowners and investors might need to account for higher taxes in their financial planning. For real estate agents, appraisers, and insurance agents, these figures could indicate a shifting economic landscape, impacting property values and risk assessments. This upward trend is essential for anyone considering property transactions or financial commitments in the area.
Cost of Living in Caroline County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,501 | $1,492 | $1,550 | $1,394 | $1,494 |
| 1 adult 4 children | $1,501 | $1,218 | $1,184 | $1,394 | $1,660 |
| 2 adults 3 children | $1,501 | $1,219 | $1,346 | $1,394 | $1,262 |
| 1 adult 3 children | $1,501 | $995 | $979 | $1,394 | $1,394 |
| 2 adults 2 children | $1,056 | $998 | $1,142 | $1,204 | $969 |
| 1 adult 2 children | $1,056 | $745 | $775 | $1,204 | $993 |
| 2 adults 1 child | $1,056 | $789 | $937 | $589 | $880 |
| 1 adult 1 child | $1,056 | $509 | $571 | $589 | $786 |
| 2 adults | $847 | $633 | $733 | $0 | $727 |
| 1 adult | $805 | $346 | $367 | $0 | $639 |
Safety trends & Data
Caroline County, Virginia has experienced fluctuating property crime numbers over the past five years, with larceny and vandalism being the most prevalent issues. Larceny cases range from 29 to 44 annually, while vandalism incidents have increased from 15 to 29. Fraud and burglary numbers vary but remain consistently lower, and embezzlement and motor vehicle theft are generally below five incidents per year. These patterns could influence community safety initiatives and property insurance... Read more
Property Crime Trends in Caroline County, VA Over the Last 5 Years
Caroline County, Virginia has seen fluctuating property crime numbers over the past five years. Larceny and vandalism appear to be the most prevalent issues, with figures for larceny ranging from 29 to 44 cases annually, and vandalism increasing from 15 to a high of 29 cases. Fraud and burglary show varying trends but are consistently lower. Meanwhile, embezzlement and motor vehicle theft show some of the smallest numbers, generally below five incidents per year. These patterns suggest potential focal points for community safety initiatives and property insurance considerations for residents and investors alike.
Demographics
Caroline County, Virginia's adult population skews female, though the difference is relatively minor. Educationally, high school graduates make up the largest segment, with a noticeable drop-off as higher education levels are considered. Age-wise, the county spreads fairly evenly across different age groups, though there's a slight bulge in the middle-aged segments, indicating a stable working-age population. Racially, the county is predominantly White, with Black or African American residents... Read more
Race Distribution in Caroline County, Virginia (2022)
Educational Attainment in Caroline County, Virginia (2022)
Age Distribution in Caroline County, Virginia
Citizen Population in Caroline County, Virginia (2022)
Political Trends & Data
In Caroline County, Virginia, the 2020 U.S. Presidential Election results revealed a slight Republican edge with just over 51% of the votes, while Democrats secured about 47%. The Libertarian party captured approximately 1.6% of votes, highlighting a competitive political landscape with a modest Republican lean. This suggests a potentially divided voter base that could swing future... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Caroline County, Virginia, the 2020 U.S. Presidential Election results showed a slight edge for the Republican party with just over 51% of the votes, while the Democrats garnered approximately 47%. The Libertarian party captured around 1.6% of the vote, leaving negligible percentages for other parties. The results reflect a competitive political landscape with a modest lean towards the Republicans, indicative of a potentially divided voter base that may sway upcoming elections.
51.18% of voters voted for the Republican party in the 2020 Presidential Election
47.01% of voters voted for the Democrat party in the 2020 Presidential Election
1.59% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Caroline County, Virginia has dropped to 16.02 in 2023 from a high of 20.86 in 2015, still higher than the national average of fourteen. Shifts in these ratios could affect classroom dynamics, possibly improving teacher effectiveness and student performance. Families, real estate agents, and educational investors might find the lower ratios appealing, potentially boosting property values and community satisfaction. This trend highlights the county's educational... Read more
Student-to-teacher ratio in Caroline County, Virginia over the last 10 years
Over the past decade, the student-to-teacher ratio in Caroline County, Virginia has fluctuated, with a high of 20.86 in 2015 and a more recent decrease to 16.02 in 2023. These numbers generally exceed the current national average of fourteen students per teacher. Variations in these ratios can impact classroom dynamics, potentially influencing both teacher effectiveness and student performance. Lower ratios, like the current one, may enhance individual attention to students, making it a potentially attractive factor for families, real estate agents, and educational investors. This trend could also influence property values, school funding, and community satisfaction, making it significant for anyone considering a move to, investing in, or evaluating properties within the county.
