Colonial Heights city Real Estate and Livability Trends
Colonial Heights, Virginia, is seeing a notable rise in median home values, climbing from $169,300 in 2015 to $221,400 by 2022. This may indicate the area’s growing appeal as a mid-market option for investors, especially given its narrower gap compared to the state's median home value. Increased investments in energy-efficient homes are evident from the surge in residential energy tax credits,... Read more
Colonial Heights city Market Trends
In Colonial Heights, Virginia, median home values have risen sharply from $169,300 in 2015 to $221,400 in 2022, narrowing the gap relative to the state median of $339,800 and showing appeal as a mid-market option for investors. Residential energy tax credits surged dramatically in 2018 to $1,525.00 from previous averages around $300, indicating increased adoption of energy-efficient home... Read more
Median Value of Occupied Housing Units in Colonial Heights city, Virginia Over the Last 8 Years
In Colonial Heights, Virginia, median home values have seen a sharp increase from $169,300 in 2015 to $221,400 in 2022, nearly a $52,100 gain over eight years. Although still trailing behind the Virginia state median of $339,800 in 2022, it's interesting to note that Colonial Heights has closed the gap relative to both state and national levels, especially in the last two years. With the national median value at $179,400 in 2022, Colonial Heights presents an appealing mid-market option for investors and homebuyers looking for growth opportunities in the region.
Residential Energy Tax Credit Per Tax Return in Colonial Heights city, VA Over the Last 9 Years
Colonial Heights, Virginia has shown some significant changes in residential energy tax credits per tax return over the past nine years. From 2013 to 2017, credit values fluctuated modestly between $255.56 and $361.11. However, a dramatic increase occurred in 2018 with an average credit of $1525.00, indicating a potential surge in energy-efficient home investments or changes in tax policy. This spike was followed by consistently high credit values above $1100 annually through 2021. This trend could suggest growing awareness and adoption of energy-saving measures among residents, which might interest investors, real estate agents, and property developers considering greener, cost-efficient housing options.
Average Real Estate Taxes Per Tax Return in Colonial Heights city, VA Over the Last 10 Years
Over the past decade in Colonial Heights, Virginia, real estate taxes per tax return have exhibited a noticeable upward trend. Starting at $2,316.73 in 2012, the value peaked in 2018 at $3,223.88 before stabilizing around $2,885.19 in 2021. This rise indicates various local and market influences that may interest potential investors, residents, and real estate professionals. The fluctuations possibly reflect changes in property values, municipal budgeting, or shifts in taxpayer bases, which are critical for appraisers and insurance agents to monitor for accurate assessments and risk evaluations.
Number of Mortgages by Occupancy Type in Colonial Heights city, VA Over the Last 5 Years in Colonial Heights city
In Colonial Heights, Virginia, there's been noticeable shifts in mortgage counts over the past five years. Strong growth in principal residence mortgages peaked in 2021 at approximately 1,479, likely reflecting higher demand for primary homes. Interestingly, investment property mortgages have shown fluctuations, peaking at 140 in 2021, suggesting varying investor confidence or opportunity. Second residence mortgages have remained minimal, indicating a potential lack of interest or affordability in acquiring secondary homes. For investors and real estate agents, these changing dynamics emphasize where market demand lies and might guide future investment and development strategies, while appraisers and insurance agents could find the stability and fluctuations in these segments important for risk assessment and property valuation.
Economic Outlook
Colonial Heights, Virginia has witnessed a consistent rise in average taxable income per tax return over nine years, growing from $47,076.50 in 2013 to $57,661.13 in 2021. This aligns with rising state and local income taxes, which increased from $3,981.05 in 2012 to roughly $5,370.00 by 2020, indicating either higher incomes or tax policy shifts affecting living costs. Combined with average total tax liabilities fluctuating from $6,154.42 in 2013 to $7,058.47 in 2021, these trends could impact... Read more
Average Taxable Income per Tax Return in Colonial Heights city, VA over the last 9 years
Over the past nine years, Colonial Heights, Virginia has seen a general upward trend in average taxable income per tax return. Starting at $47,076.50 in 2013, the figures show a steady increase, with occasional minor fluctuations, reaching $57,661.13 in 2021. This trend could signal economic growth or rising wages, which might be important for potential investors, real estate agents, and individuals considering relocation or construction in the area.
Average State and Local Income Taxes Per Tax Return in Colonial Heights city, VA Over the Last 10 Years
Colonial Heights, Virginia has seen a notable increase in average state and local income taxes per tax return over the past decade. Starting at approximately $3,981.05 in 2012, the average rose steadily, peaking at around $5,370.00 in 2020. This trend could suggest higher incomes or adjustments to tax policies, potentially impacting the cost of living and attractiveness for new residents or investors. Understanding these increases is crucial for planning financial strategies, property investments, and calculating expected returns. It's also valuable for insurance and real estate professionals to assess the evolving economic landscape in the area.
Average Total Tax Liability Per Tax Return in Colonial Heights city, VA Over the Last 10 Years
Colonial Heights, Virginia has shown a varied trend in average total tax liability per tax return over the past decade, with figures fluctuating between approximately $6,154.42 in 2013 to $7,058.47 in 2021. Notable increases in 2017 and 2021 suggest shifts that anyone looking to move, invest, or work in the real estate or insurance sectors here should factor into their financial planning. These fluctuations might indicate economic or policy changes affecting taxpayers, making it essential for stakeholders to consider historical data in forecast models and decision-making processes.
Cost of Living in Colonial Heights city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,538 | $1,327 | $1,603 | $2,231 | $1,640 |
| 1 adult 4 children | $1,538 | $1,084 | $1,223 | $2,231 | $1,823 |
| 2 adults 3 children | $1,538 | $1,084 | $1,392 | $2,231 | $1,419 |
| 1 adult 3 children | $1,538 | $885 | $1,012 | $2,231 | $1,583 |
| 2 adults 2 children | $1,190 | $887 | $1,181 | $1,947 | $1,105 |
| 1 adult 2 children | $1,190 | $663 | $801 | $1,947 | $1,201 |
| 2 adults 1 child | $1,190 | $701 | $970 | $1,025 | $944 |
| 1 adult 1 child | $1,190 | $453 | $591 | $1,025 | $858 |
| 2 adults | $1,054 | $563 | $759 | $0 | $711 |
| 1 adult | $1,031 | $307 | $380 | $0 | $646 |
Safety trends & Data
Property crimes in Colonial Heights city, Virginia, have shown some interesting patterns over the past five years. "Larceny - Theft" cases surged to 480.00 in 2019 but dropped to 258.00 by 2022, while "Forgery and Counterfeiting" nearly vanished, plummeting to just 2.00 cases by 2022. Though "Embezzlement" and "Stolen Property" charges fluctuated, they stayed relatively low. Notably, "Fraud" cases saw a rise in 2022, hitting 119.00. These trends could influence how investors, real estate... Read more
Property Crime Trends in Colonial Heights city, VA Over the Last 5 Years
Over the past five years, Colonial Heights city, Virginia, has seen varied trends in property crimes. "Larceny - Theft" consistently topped the list, peaking at 480.00 cases in 2019 and seeing a decline to 258.00 in 2022. Interestingly, "Forgery and Counterfeiting," which had a notable presence in earlier years, drastically dropped to just 2.00 instances by 2022. Crimes like "Embezzlement" and "Stolen Property" saw fluctuations but remained relatively low, while "Fraud" spiked in 2022 to 119.00 cases. These trends may be crucial for investors, real estate agents, and insurance agents evaluating risk and property value in the area.
Demographics
Colonial Heights, Virginia, seems to skew slightly more female with 7,403 women compared to 6,134 men. Educational attainment reflects that most residents are high school graduates, with a decent percentage having some college experience but no degree. There's a noticeable number of individuals holding bachelor's and graduate degrees too, perhaps influencing the local workforce dynamics. Age distribution might indicate a relatively balanced population, though residents aged 25 to 34 are notably... Read more
Race Distribution in Colonial Heights city, Virginia (2022)
Educational Attainment in Colonial Heights city, Virginia (2022)
Age Distribution in Colonial Heights city, Virginia
Citizen Population in Colonial Heights city, Virginia (2022)
Political Trends & Data
Colonial Heights City, Virginia, demonstrated a clear Republican preference in the 2020 Presidential Election, with around 66% of the votes favoring the GOP candidate. The Democratic party secured nearly 32%, and Libertarians, though a smaller faction, captured about 1.5%, reflecting their minor yet notable presence. This conservative-leaning voter base may influence local policy and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Colonial Heights City, Virginia, the 2020 Presidential Election results show a strong lean towards the Republican party with approximately 66% of the votes, while the Democratic party garnered around 32%. Libertarians received about 1.5%, which suggests they still maintain some influence despite being a minor party. Votes for other parties or independents were negligible. This voting pattern may indicate a predominantly conservative preference in the county.
65.58% of voters voted for the Republican party in the 2020 Presidential Election
32.45% of voters voted for the Democrat party in the 2020 Presidential Election
1.47% of voters voted for the Livertarian party in the 2020 Presidential Election
0.50% of voters voted for the Other party in the 2020 Presidential Election
School Data
Colonial Heights City, Virginia, has had varying student-to-teacher ratios over the past decade, peaking at 15 students per teacher in 2021, higher than the US average. Recently, it has decreased to around 13 students per teacher. This trend, indicative of potential shifts in population dynamics and educational focus, may impact the area's appeal to families, educators, investors, and real estate... Read more
Student-to-teacher ratio in Colonial Heights City, Virginia over the last 10 years
Colonial Heights City, Virginia, has seen its student-to-teacher ratio fluctuate over the last decade. Notably, the ratio peaked at 15 students per teacher in 2021, which was above the current US national average of 14 students per teacher. However, the ratio has since decreased, settling around 13 students per teacher in the most recent years. This can be particularly relevant for parents and educators since a lower student-to-teacher ratio is often linked to more personalized attention and better academic outcomes. For potential investors and real estate agents, these shifts might indicate changing population dynamics and educational priority in the area, affecting the overall appeal of the locality.
