Charlottesville city Real Estate and Livability Trends
In Charlottesville City, Virginia, median home values have surged from $285,300 in 2015 to $398,400 in 2022, outpacing both national and state trends. The rise in average taxable income from $71,643.48 in 2013 to $153,207.36 in 2021 suggests notable economic development and shifts in the job market, likely driving property value increases. This upward trend, coupled with fluctuating property... Read more
Charlottesville city Market Trends
Charlottesville, Virginia has seen a significant rise in median home values from $285,300 in 2015 to $398,400 in 2022, outpacing both the national and state averages. The increasing residential energy tax credits peaking at $4411.11 in 2018 highlight a growing focus on energy-efficient home improvements. Average real estate taxes have more than doubled in a decade, suggesting higher property... Read more
Median Value of Occupied Housing Units in Charlottesville city, Virginia Over the Last 8 Years
Charlottesville, Virginia has seen a significant increase in median home values over the last eight years, with a jump from $285,300 in 2015 to $398,400 in 2022. This upward trend outpaces both the national average, which moved from $125,500 to $179,400, and the state average for Virginia, which rose from $245,000 to $339,800. Such a surge may indicate a strong demand for housing in Charlottesville, possibly driven by factors such as economic growth, desirability, or limited housing supply, offering potential opportunities for those looking to invest, move to, or develop property in the area.
Residential Energy Tax Credit Per Tax Return in Charlottesville city, VA Over the Last 9 Years
Over the last nine years, Charlottesville city, Virginia has seen a notable increase in the average residential energy tax credit per tax return, with substantial growth around 2018 and 2019 when credits soared to $4411.11 and $4138.10, respectively. This trend highlights a rising focus on energy-efficient improvements among homeowners, which might appeal to potential investors and real estate agents. With credits peaking and then gradually lowering to around $2485.19 in 2021, it suggests sustained but moderated investments in residential energy efficiency, relevant for appraisors and insurance agents assessing property values and risks.
Average Real Estate Taxes Per Tax Return in Charlottesville city, VA Over the Last 10 Years
Charlottesville city, Virginia has seen a significant increase in average real estate taxes per tax return over the past decade, with figures rising from about $3,771.77 in 2012 to approximately $7,089.29 in 2021. The most notable jumps occurred between 2016 to 2018, peaking at $7,765.00 in 2019. This upward trend could suggest a rising demand and property value in the area, potentially impacting decisions for investors, homebuyers, property developers, and real estate agents. Property insurance evaluations and appraisals might also reflect these tax increases, influencing the overall cost of living and investment feasibility.
Percentage of Farm Returns in Charlottesville city, VA Over the Last 10 Years
Charlottesville, Virginia has seen slight fluctuations in farm tax returns over the last decade, peaking at 0.30% in 2017. The lowest point occurred in 2020 with a modest 0.16%, followed by a slight recovery to 0.21% in 2021. These returns reflect the fractional participation of farming operations in the city's overall tax landscape, suggesting a relatively small but consistent agricultural presence. For potential investors or those interested in property development, these trends might indicate modest opportunities in local farming ventures.
Number of Mortgages by Occupancy Type in Charlottesville city, VA Over the Last 5 Years in Charlottesville city
In Charlottesville city, Virginia, the data shows fluctuations in mortgage trends by occupancy type over the past five years. There's been a consistent higher volume of mortgages for principal residences, peaking in 2020 with 2363, while investment properties and second residences have seen much lower and more variable figures. The noticeable dip in investment property mortgages in 2022 to 213 could hint at changing investor sentiment or market conditions. This matters for potential investors and real estate agents as shifts in the types of properties financed can signal broader economic trends and influence property values. Appraisers and insurance agents might also note these changes, as the varying occupancy types could affect risk assessments and valuations in the area. For those building property or considering a move, understanding these nuances could impact decision-making and strategy.
Economic Outlook
In Charlottesville city, Virginia, the average taxable income per tax return has shown significant growth from $71,643.48 in 2013 to $153,207.36 in 2021. This trend, particularly the pronounced rise between 2017 and 2018, suggests economic developments and changes in the job market. Real estate agents, investors, and insurance adjusters may find this data appealing, as it hints at rising property values and a growing affluent population. Meanwhile, average state and local income taxes have... Read more
Average Taxable Income per Tax Return in Charlottesville city, VA over the last 9 years
The average taxable income per tax return in Charlottesville city, Virginia has shown significant growth over the last nine years, with a remarkable jump from $71,643.48 in 2013 to $153,207.36 in 2021. Notably, there was a pronounced rise between 2017 and 2018, from $104,337.64 to $126,253.44, which could signal economic developments or changes in the local job market. Despite a slight dip in 2020 to $98,728.28, likely influenced by the pandemic, the overall trend suggests increasing affluence and investment potential in the area. This upward trajectory is particularly pertinent for investors, real estate agents, and insurance adjusters, as it may reflect rising property values and a growing, economically diverse populace.
Average State and Local Income Taxes Per Tax Return in Charlottesville city, VA Over the Last 10 Years
Average state and local income taxes per tax return in Charlottesville city, Virginia have seen significant fluctuations over the past decade. From a relatively stable period in the early 2010s, the taxes surged dramatically by 2018, reaching a peak of $42,203.95 in 2019. The numbers suggest a highly volatile tax landscape, which may impact financial planning for residents, investors, and businesses considering entry into the market. The sudden drops and spikes emphasize a need for cautious appraisal and a thorough understanding of potential tax liabilities.
Average Total Tax Liability Per Tax Return in Charlottesville city, VA Over the Last 10 Years
Over the last decade, Charlottesville city, Virginia has seen a notable increase in average total tax liability per tax return, rising from approximately $13,014.61 in 2012 to around $34,409.16 in 2021. This upward trend suggests a growing affluence or higher reported incomes, which could be appealing for real estate agents and property investors targeting wealthier demographics. The spike in 2017 and subsequent steady growth may also influence appraisers and insurance agents assessing property values and risks. Such data provides insights into the economic health of the area, which is crucial for prospective movers and existing residents evaluating the long-term prospects of their investments.
Cost of Living in Charlottesville city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,658 | $1,967 | $1,626 | $2,409 | $2,057 |
| 1 adult 4 children | $1,658 | $1,606 | $1,241 | $2,409 | $2,168 |
| 2 adults 3 children | $1,658 | $1,607 | $1,412 | $2,409 | $1,764 |
| 1 adult 3 children | $1,658 | $1,312 | $1,027 | $2,409 | $1,911 |
| 2 adults 2 children | $1,333 | $1,315 | $1,198 | $2,101 | $1,398 |
| 1 adult 2 children | $1,333 | $982 | $813 | $2,101 | $1,450 |
| 2 adults 1 child | $1,333 | $1,039 | $984 | $1,102 | $1,097 |
| 1 adult 1 child | $1,333 | $671 | $599 | $1,102 | $1,010 |
| 2 adults | $1,115 | $835 | $770 | $0 | $795 |
| 1 adult | $1,109 | $455 | $385 | $0 | $697 |
Safety trends & Data
Property crime trends in Charlottesville, Virginia, have shown some fluctuations over the past five years. Larceny-theft remains high, with 77 incidents in 2019 and a decrease to 33 in 2020. Motor vehicle thefts saw an increase to 12 cases by 2022. Burglary incidents peaked in 2021 with 19 cases before settling closer to previous levels in 2022. Vandalism cases surged to 32 incidents in both 2021 and 2022, indicating persistent challenges. These trends may affect property values and insurance... Read more
Property Crime Trends in Charlottesville city, VA Over the Last 5 Years
Property crime trends in Charlottesville, Virginia, reveal some fluctuations over the past five years. Larceny-theft consistently remains high, with notable spikes such as 77 incidents in 2019 and a dip to 33 in 2020. There is a concerning rise in motor vehicle thefts, increasing to 12 cases by 2022. Burglary cases experienced a significant increase in 2021 (19 incidents), reverting closer to prior levels in 2022. Fraud and vandalism exhibit variability, with cases of vandalism peaking at 32 incidents in 2021 and again in 2022, suggesting an ongoing issue. These trends may impact property values and insurance premiums, making them essential for potential investors and current residents to monitor.
Demographics
Charlottesville, Virginia shows a slightly higher female adult population over males. The city boasts a highly educated populace, with a significant number holding graduate or professional degrees, followed by those with bachelor's degrees. Young adults aged 20-34 make up the largest age group, signaling a vibrant, potentially dynamic workforce. Racially, the majority of the population is White, with the Black or African American community being the second-largest group, though there is an... Read more
Race Distribution in Charlottesville city, Virginia (2022)
Educational Attainment in Charlottesville city, Virginia (2022)
Age Distribution in Charlottesville city, Virginia
Citizen Population in Charlottesville city, Virginia (2022)
Political Trends & Data
Charlottesville City, Virginia, shows a notable Democratic leaning, with nearly 85% of the 2020 votes going to the Democratic Party. Republicans, on the other hand, captured around 13%, and Libertarian and Other candidates collectively received just under 2%. This strong Democratic preference could significantly influence state and national political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Charlottesville City, Virginia, election results from 2020 indicate a significant lean towards the Democratic Party, capturing nearly 85% of the vote. In contrast, the Republican Party garnered approximately 13%, with Libertarian and Other candidates collectively receiving just under 2%. This suggests a strong Democratic preference within this locality, highlighting its potential influence in larger state or national political landscapes.
12.78% of voters voted for the Republican party in the 2020 Presidential Election
85.47% of voters voted for the Democrat party in the 2020 Presidential Election
1.28% of voters voted for the Livertarian party in the 2020 Presidential Election
0.46% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the last decade, Charlottesville City, Virginia has had fluctuating student-to-teacher ratios, often below the national average of 14 students per teacher. The ratio hit lows of around 11 students per teacher in 2017 and 2018, suggesting better individual attention and possibly higher educational quality. However, 2022 saw a rise to about 13 students per teacher, indicating potential changes in school funding, enrollment, or teacher staffing levels, which could be crucial for investors and... Read more
Student-to-teacher ratio in Charlottesville City, Virginia over the last 10 years
Over the last decade, Charlottesville City, Virginia has shown fluctuating trends in its student-to-teacher ratio, with values generally lower than the national average of 14 students per teacher. For instance, the ratio dipped to lows of around eleven students per teacher in 2017 and 2018, which could be indicative of better individual attention and potentially higher educational quality during those years. Notably, 2022 saw an increase to approximately thirteen students per teacher, hinting at possible shifts in school funding, enrollment rates, or teacher staffing levels that may interest potential investors and real estate agents monitoring local educational resources.
