Craig County Real Estate and Livability Trends
Craig County, Virginia's real estate market exhibits interesting trends. Median home values have fluctuated from $147,900 in 2020 to $184,700 in 2022, remaining well below Virginia's median of $339,800, making it a potentially attractive option for cost-conscious buyers. Real estate taxes surged from $1,470.00 in 2012 to $2,714.29 in 2021, indicating potential property value appreciation.... Read more
Craig County Market Trends
Craig County, Virginia has seen its median home values fluctuate from $147,900 in 2020 to $184,700 in 2022, remaining notably lower than the state median of $339,800, suggesting it might attract cost-conscious buyers. The residential energy tax credit peaked at $700.00 in 2021, indicating a possibly increased investment in energy efficiency which could affect property values. Real estate taxes in... Read more
Median Value of Occupied Housing Units in Craig County, Virginia Over the Last 8 Years
Craig County, Virginia has seen fluctuations in its median home values over the past eight years, with figures ranging from $147,900 in 2020 to $184,700 in 2022. These values are generally lower than the state median, which reached $339,800 in 2022, but are closer to the national median which was $179,400 in the same year. This suggests Craig County might offer more affordable housing options compared to the broader Virginia market, potentially appealing to cost-conscious buyers or investors looking for less saturated markets.
Residential Energy Tax Credit Per Tax Return in Craig County, VA Over the Last 7 Years
The residential energy tax credit in Craig County, Virginia has shown fluctuations over the last seven years, with significant peaks in 2014 ($450.00), 2016 ($680.00), and a recent high in 2021 reaching $700.00. These shifts could be indicative of varying investments in energy-efficient home improvements or changes in state and federal incentives influencing homeowner decisions. Such variability matters for potential investors, real estate agents, and appraisers as it reflects the community's responsiveness to energy efficiency, which can influence property attractiveness and long-term value.
Average Real Estate Taxes Per Tax Return in Craig County, VA Over the Last 10 Years
Real estate taxes in Craig County, Virginia, have exhibited a notable upward trend over the last decade. From 2012 to 2021, average real estate taxes per tax return have increased from $1,470.00 to $2,714.29. This significant rise suggests that property values and possibly tax rates may have climbed, which could signal a burgeoning real estate market. For those considering investments, these trends hint at potential for value appreciation. Residents and potential movers should also anticipate higher tax burdens, impacting overall cost of living. Real estate agents and appraisers will likely find this data crucial for accurate market assessments and property valuations.
Percentage of Farm Returns in Craig County, VA Over the Last 10 Years
Over the past decade, Craig County, Virginia has seen farm tax returns fluctuate, peaking at approximately 8.07% in 2015 and mostly hovering around 7% to 7.7% during the rest of the period. In recent years, there has been a slight decline with figures around 6.56% in 2020 and a slight uptick to 6.89% in 2021. Farm tax returns refer to the financial statements filed by farm owners to report income, expenses, and other financial information pertinent to their agricultural operations. This kind of data could suggest varying levels of agricultural activity, investment potential, and economic stability in the area, valuable for stakeholders considering property investments or relocations.
Number of Mortgages by Occupancy Type in Craig County, VA Over the Last 5 Years in Craig County
Craig County, Virginia has seen a notable fluctuation in mortgage counts for investment properties and principal residences over the past five years. Principal residence mortgages remain the dominant category, peaking in 2020 with 324 mortgages before dropping to 158 in 2022. Investment properties and secondary residences have lower and more stable counts, with slight increases in some years. These trends could indicate a changing dynamic in demand for primary versus secondary or investment housing options. Understanding these shifts is crucial for real estate agents, investors, and appraisers who need to gauge the local market’s health and predict future needs for residential and investment properties. Builders and insurance agents may also find these patterns useful for strategic planning and risk assessment in the area.
Economic Outlook
In Craig County, Virginia, average taxable income per tax return saw a notable rise from $53,306.44 in 2020 to $60,625.00 in 2021, hinting at a potentially growing economy. Meanwhile, average state and local income taxes have significantly increased over the past decade, reaching $6,957.14 in 2021, which may impact real estate affordability and investment returns. Additionally, there was a marked rise in total tax liabilities per tax return in 2021, jumping to $7,733.70, suggesting evolving... Read more
Average Taxable Income per Tax Return in Craig County, VA over the last 9 years
The average taxable income per tax return in Craig County, Virginia, has shown a gradual increase over the past nine years, with a notable jump from $53,306.44 in 2020 to $60,625.00 in 2021. This upward trend suggests a potentially growing economy and improved financial well-being among residents, which might appeal to investors, real estate agents, and anyone considering relocation or development in the area. Higher average incomes could imply an increased capacity for property investments and greater stability for businesses looking to establish or expand.
Average State and Local Income Taxes Per Tax Return in Craig County, VA Over the Last 10 Years
Average state and local income taxes per tax return in Craig County, Virginia have shown a significant upward trend over the past decade. Starting from $3,944.90 in 2012, the amount has steadily climbed to $6,957.14 in 2021, indicating rising tax liabilities for residents. This trend could impact decisions for those looking to invest in local real estate, as higher taxes might affect overall affordability and returns on investment. Additionally, this increase could be crucial for appraisers, insurance agents, and real estate professionals, as it reflects the changing economic landscape in the area.
Average Total Tax Liability Per Tax Return in Craig County, VA Over the Last 10 Years
Over the last decade, Craig County, Virginia has witnessed fluctuating average total tax liabilities per tax return, with values generally inching upwards. Notably, there was a significant jump in 2021, reaching $7733.70, a sharp rise compared to the relatively steady increases seen in previous years. This surge may suggest changing economic circumstances or adjustments in tax policies, making it an important consideration for prospective investors, real estate agents, and residents looking at financial planning and property investment.
Cost of Living in Craig County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $948 | $1,488 | $1,609 | $1,326 | $1,180 |
| 1 adult 4 children | $948 | $1,215 | $1,228 | $1,326 | $1,302 |
| 2 adults 3 children | $948 | $1,216 | $1,397 | $1,326 | $957 |
| 1 adult 3 children | $948 | $992 | $1,016 | $1,326 | $1,060 |
| 2 adults 2 children | $691 | $995 | $1,185 | $1,153 | $827 |
| 1 adult 2 children | $691 | $743 | $804 | $1,153 | $791 |
| 2 adults 1 child | $691 | $786 | $974 | $589 | $750 |
| 1 adult 1 child | $691 | $508 | $593 | $589 | $633 |
| 2 adults | $561 | $632 | $762 | $0 | $607 |
| 1 adult | $505 | $345 | $381 | $0 | $515 |
Safety trends & Data
Craig County, Virginia has shown fluctuating property crime rates over the past five years, with burglary incidents spiking to 4 in 2022. Larceny-theft remains consistently reported but varies in frequency, while vandalism and motor vehicle theft occur sporadically without clear trends. Such a variable crime landscape suggests evolving risk factors, making it crucial for investors and potential homeowners to stay informed about local crime... Read more
Property Crime Trends in Craig County, VA Over the Last 5 Years
Craig County, Virginia has exhibited a fluctuating pattern in property crimes over the past five years, with notable spikes in certain categories. Burglary saw a sharp increase in 2022, reaching 4 reported incidents compared to more stable figures in previous years. Larceny-Theft has also been consistently reported, though with varying frequency. Vandalism and Motor Vehicle Theft appear intermittently, but do not trend definitively upwards or downwards. This variable crime landscape might suggest evolving risk factors for investors or potential homeowners, highlighting the importance of staying informed about local crime trends.
Demographics
Craig County, Virginia maintains a balanced gender ratio with a slight female majority. The county exhibits a diverse educational landscape, though the majority of adults have at least a high school diploma, with some holding advanced degrees. The largest age group comprises older adults, particularly those aged 55 to 64, suggesting potential challenges and opportunities related to healthcare and retirement services. The racial makeup is overwhelmingly White, with minimal representation from... Read more
Race Distribution in Craig County, Virginia (2022)
Educational Attainment in Craig County, Virginia (2022)
Age Distribution in Craig County, Virginia
Citizen Population in Craig County, Virginia (2022)
Political Trends & Data
Craig County, Virginia, displayed a significant preference for the Republican party in the 2020 U.S. Presidential Election, capturing approximately 80% of the vote. With the Democratic party only securing around 18%, it's clear this region leans heavily conservative. This political landscape could influence housing trends, as areas with strong political leanings often see specific demographic and economic patterns. This tends to matter for potential buyers who consider community values and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Craig County, Virginia saw overwhelming support for the Republican party in the 2020 U.S. Presidential Election, with roughly 80% of the votes. The Democratic party trailed significantly at about 18%, while the Libertarian party and other smaller parties collectively gained only a small fraction of the vote. This substantial leaning towards the Republican party provides a snapshot of the county's political climate during this period.
80.00% of voters voted for the Republican party in the 2020 Presidential Election
18.52% of voters voted for the Democrat party in the 2020 Presidential Election
1.26% 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
Craig County, Virginia has seen its student-to-teacher ratio drop from about 15 students per teacher in 2014 to roughly 11 in 2023, compared to the steady national average of 14. This shift could mean more personalized student attention, influencing factors such as property values and real estate desirability. Families might consider this a key aspect when relocating, and it offers useful insights for real estate agents, investors, and insurance... Read more
Student-to-teacher ratio in Craig County, Virginia over the last 10 years
Craig County, Virginia has experienced notable fluctuations in its student-to-teacher ratio over the past decade, beginning with a ratio of around 15 students per teacher in 2014 and recently dipping to about 11 students per teacher in 2023. These changes reflect an interesting trend when compared to the national average, which has remained steady at 14 students per teacher. A lower student-to-teacher ratio could potentially signal more personalized attention for students, impacting educational outcomes and property values. This trend might be particularly relevant for families considering relocation to the area, as well as for real estate agents and investors looking to gauge the quality of education, a significant factor in property desirability. Additionally, insurance agents and appraisers might find these data points useful when assessing school-associated risks and property valuations.
