Chesterfield County Real Estate and Livability Trends
Chesterfield County, Virginia has seen a jump in average taxable income per tax return from $67,316.76 in 2013 to $90,588.51 in 2021, possibly attracting investors and real estate professionals. This robust economic growth mirrors a doubling of state and local income taxes and could suggest an expanding tax base, while a dip in the poverty rate to 5.8% by 2019 might indicate growing economic... Read more
Chesterfield County Market Trends
Median home values in Chesterfield County, Virginia have risen sharply from $216,800 in 2015 to $306,500 in 2022, outpacing both national and state growth rates. This suggests strong buyer interest and potential for property investments. Energy tax credits have fluctuated significantly, notably peaking at $2,155.41 in 2018, which may attract those interested in sustainable living and... Read more
Median Value of Occupied Housing Units in Chesterfield County, Virginia Over the Last 8 Years
Median home values in Chesterfield County, Virginia have seen a significant increase from $216,800 in 2015 to $306,500 in 2022. This growth rate surpasses both the national median, which rose from $125,500 to $179,400, and the state's, which went from $245,000 to $339,800 over the same period. These figures suggest that Chesterfield County is rapidly attracting interest from homebuyers, potentially making it an attractive area for investment, new property development, or relocation within Virginia.
Residential Energy Tax Credit Per Tax Return in Chesterfield County, VA Over the Last 9 Years
Chesterfield County, Virginia, has seen notable fluctuations in the average residential energy tax credit per tax return over the last nine years. From a relatively stable range of around $300 to $500 between 2013 and 2017, there's a remarkable surge starting in 2018, peaking at $2,155.41. Though the average credit per return dropped to $1,149.28 in 2019, it rebounded to $1,648.37 by 2021. These trends suggest a growing financial incentive for energy-efficient home improvements, making it an appealing factor for potential property buyers and investors eyeing sustainable living options.
Average Real Estate Taxes Per Tax Return in Chesterfield County, VA Over the Last 10 Years
Over the past decade, Chesterfield County, Virginia has seen a consistent rise in average real estate taxes per tax return. Starting at approximately $2,558.92 in 2012, these taxes increased to around $3,892.74 by 2021, showing a trend of gradual but steady growth. Notably, there was a significant jump between 2017 and 2018, where the average went from $3,043.75 to $3,658.70. This pattern could influence decisions for potential investors, property developers, insurance agents, and anyone considering relocation to the area, highlighting the importance of factoring in rising tax liabilities when evaluating long-term financial commitments in Chesterfield County.
Percentage of Farm Returns in Chesterfield County, VA Over the Last 10 Years
Over the last decade, Chesterfield County, Virginia, has seen a gradual decline in the percentage of farm tax returns, dropping from about 0.23% in 2012 to roughly 0.17% in 2021. Farm tax returns represent the number of filed returns related to agricultural activities, which can indicate the health and vitality of the local agricultural sector. This declining trend may suggest either a decrease in farm operations or a shift towards non-agricultural land use and development, potentially impacting decisions for those considering investing in, moving to, or building property in the area.
Number of Mortgages by Occupancy Type in Chesterfield County, VA Over the Last 5 Years in Chesterfield County
In Chesterfield County, Virginia, trends over the past five years reveal noteworthy shifts in mortgage activity by occupancy type. Principal Residence mortgages showed a marked increase until 2021, followed by a significant drop in 2022, while Investment Property mortgages gradually climbed, peaking in 2021 before declining. Second Residence mortgages remained relatively stable. These changes in occupancy types provide key insights for investors and real estate agents about the evolving market dynamics, and can influence future development, potential returns, and insurance considerations for properties in the area.
Economic Outlook
Chesterfield County, Virginia has experienced a notable increase in average taxable income per tax return, jumping from about $67,316.76 in 2013 to approximately $90,588.51 in 2021. This trend highlights economic growth that could attract investors and real estate professionals. Correspondingly, state and local income taxes have risen significantly, nearly doubling from $5,530.98 in 2012 to $10,046.26 in 2021, reflecting either rising incomes or tax policy changes. The average total tax... Read more
Average Taxable Income per Tax Return in Chesterfield County, VA over the last 9 years
Chesterfield County, Virginia has seen a notable increase in average taxable income per tax return over the past nine years, climbing from approximately $67,316.76 in 2013 to about $90,588.51 in 2021. This consistent upward trend highlights the county's growing economic prosperity, potentially making it attractive for investors, real estate agents, and new residents seeking financial stability. For insurance agents and appraisers, the rising income levels could suggest a corresponding increase in property values, while builders might find an expanding market for higher-end developments.
Average State and Local Income Taxes Per Tax Return in Chesterfield County, VA Over the Last 10 Years
Over the past decade in Chesterfield County, Virginia, average state and local income taxes per tax return have seen a notable upward trend, starting at $5530.98 in 2012 and reaching $10046.26 by 2021. This sharp increase, particularly post-2017, could reflect rising income levels or changes in tax policies. For potential investors and property developers, this trend might indicate a growing and potentially more affluent population, which could translate into higher demand for premium real estate. Real estate agents and appraisers might also find this data useful in understanding market dynamics and pricing properties accordingly. Understanding these tax trends is critical for anyone looking to make financially informed decisions in Chesterfield County.
Average Total Tax Liability Per Tax Return in Chesterfield County, VA Over the Last 10 Years
Over the past decade, Chesterfield County, Virginia saw a notable increase in the average total tax liability per tax return, rising from approximately $10,665.93 in 2012 to about $14,928.39 in 2021. This general upward trend, with a significant spike around 2021, might interest potential investors, appraisers, and real estate professionals as it suggests an expanding tax base, possibly driven by higher property values or incomes. For those considering moving to or investing in the area, these figures could indicate strong economic growth, although they should also consider potential higher tax obligations.
Cost of Living in Chesterfield County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,925 | $1,548 | $1,575 | $2,231 | $2,038 |
| 1 adult 4 children | $1,925 | $1,264 | $1,202 | $2,231 | $2,198 |
| 2 adults 3 children | $1,925 | $1,265 | $1,368 | $2,231 | $1,785 |
| 1 adult 3 children | $1,925 | $1,033 | $994 | $2,231 | $1,947 |
| 2 adults 2 children | $1,489 | $1,035 | $1,161 | $1,947 | $1,373 |
| 1 adult 2 children | $1,489 | $773 | $787 | $1,947 | $1,484 |
| 2 adults 1 child | $1,489 | $818 | $954 | $1,025 | $1,132 |
| 1 adult 1 child | $1,489 | $529 | $580 | $1,025 | $1,099 |
| 2 adults | $1,318 | $657 | $747 | $0 | $876 |
| 1 adult | $1,289 | $359 | $373 | $0 | $805 |
Safety trends & Data
Chesterfield County, Virginia has experienced varying property crime rates over the past five years, with larceny-theft being the most common, peaking at 1,339 cases in 2019. Motor vehicle theft only became noteworthy in 2020, climbing to 73 cases by 2022. Vandalism and fraud generally hang around 150-200 cases yearly, while arson incidents stay low under 10 cases annually, except for a brief spike in 2018. These trends could influence the economic and safety profile, which matters to... Read more
Property Crime Trends in Chesterfield County, VA Over the Last 5 Years
Chesterfield County, Virginia has seen fluctuating property crime rates over the past five years, with larceny-theft consistently being the most prevalent crime, peaking at 1,339 cases in 2019. The occurrence of motor vehicle theft started becoming notable only in 2020, reaching 73 cases by 2022. Vandalism and fraud have shown variability but generally hover around 150-200 instances yearly. Arson incidents have remained low, typically under 10 cases annually, except for a brief spike in 2018. These trends are significant for investors, real estate agents, and residents considering the economic and safety profile of the area.
Demographics
Chesterfield County, Virginia exhibits a relatively balanced gender distribution with slightly more females than males. The educational attainment of its residents shows a significant portion having achieved at least a high school diploma, and a healthy percentage boasting bachelor's and graduate degrees. Age-wise, the county has a notably large number of residents in their prime working and parenting years, aged 25-44. Racial diversity is marked by a predominantly White population, although... Read more
Race Distribution in Chesterfield County, Virginia (2022)
Educational Attainment in Chesterfield County, Virginia (2022)
Age Distribution in Chesterfield County, Virginia
Citizen Population in Chesterfield County, Virginia (2022)
Political Trends & Data
Chesterfield County in Virginia leaned slightly Democratic in the 2020 U.S. Presidential Election, with Democrats securing around 52.4% of the vote compared to Republicans' 45.8%. Minor parties, including the Libertarian Party, made minimal impact, capturing about 1.4%. This competitive political landscape, with a modest edge for Democrats, could signal a shift in voter preferences and may influence future local policies and real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Chesterfield County in Virginia leaned slightly Democratic in the 2020 U.S. Presidential Election, with Democrats securing around 52.4% of the vote compared to Republicans' 45.8%. Minor parties like the Libertarian Party made a minimal impact, garnering just about 1.4%. Other parties collectively captured less than 0.4% of the vote. These results suggest a competitive political landscape with a modest edge for Democrats, potentially indicating a shift in voter preferences.
45.76% of voters voted for the Republican party in the 2020 Presidential Election
52.43% of voters voted for the Democrat party in the 2020 Presidential Election
1.44% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
Chesterfield County, Virginia has seen a notable decrease in its student-to-teacher ratio over the past decade, dropping from 16 in 2014 to just under 15 in 2023, with a low of 14 in 2021. Such improvements may suggest better educational support and more personalized attention in classrooms, potentially enhancing the quality of education. For prospective homebuyers and investors, this could increase the area's attractiveness, possibly boosting property values. This trend also holds significance... Read more
Student-to-teacher ratio in Chesterfield County, Virginia over the last 10 years
Chesterfield County, Virginia has seen a notable decrease in its student-to-teacher ratio over the past ten years, dropping from 16 in 2014 to just under 15 in 2023, and even going as low as 14 in 2021. While this still hovers close to the national average of 14 students per teacher, these improvements might indicate better educational support and more personalized attention in classrooms. For those considering moving to or investing in the area, reduced class sizes could be a selling point, suggesting potentially higher quality of education. This could also impact property values positively, making it an attractive market for real estate agents and investors. Appraisers and insurance agents might also consider these trends important, reflecting on community development and stability.
