Cumberland County Real Estate and Livability Trends
Cumberland County, Virginia's real estate market has seen significant changes, with average taxable incomes rising from $39,749.17 in 2013 to $51,410.96 in 2021, and an increase in median home values from $137,800 in 2015 to $208,600 in 2022. Rising property and real estate taxes suggest improving property values and enhanced local services, though this might impact affordability. The county's... Read more
Cumberland County Market Trends
Cumberland County, Virginia has experienced a notable rise in median home values over the past eight years, going from $137,800 in 2015 to $208,600 in 2022, outperforming the national median but remaining below Virginia's statewide figures. The area also saw fluctuating residential energy tax credits, peaking at $1,550.00 in 2018, which could reflect varying energy policies and impact property... Read more
Median Value of Occupied Housing Units in Cumberland County, Virginia Over the Last 8 Years
Cumberland County, Virginia has seen a significant increase in median home values over the last eight years, rising from $137,800 in 2015 to $208,600 in 2022. This growth outpaces the national median, which increased from $125,500 to $179,400 in the same period. Meanwhile, Virginia's statewide median values are substantially higher, escalating from $245,000 to $339,800. The relatively lower median home value in Cumberland County might suggest more attractive entry points for investors and homebuyers compared to other parts of the state, while still benefitting from strong upward trends.
Residential Energy Tax Credit Per Tax Return in Cumberland County, VA Over the Last 9 Years
Cumberland County, Virginia has seen a notable fluctuation in the average residential energy tax credit per tax return over the last nine years. The credit witnessed a substantial jump from $300.00 in 2013 to a peak of $1,550.00 in 2018, followed by a slight decline but remained relatively high compared to initial years, settling at $877.78 in 2021. This variability may be reflective of changing policies or incentives related to energy-efficient upgrades and could signify underlying shifts in property investment opportunities, impacting decisions related to appraising, building, or insuring properties within the county. Such trends could be relevant for real estate agents and potential investors observing energy efficiency rebates as a factor of residential value.
Average Real Estate Taxes Per Tax Return in Cumberland County, VA Over the Last 10 Years
Cumberland County, Virginia has seen a general increase in real estate taxes per tax return over the past decade, with notable spikes around 2016 and 2018. While the average tax amount hovered near $1,800 in the early years, more recent data points such as 2021 show an increase to approximately $2,489.47. This trend suggests a significant rise in property values and potentially more robust municipal services, which may be appealing indicators for those looking to invest or move to the area. Conversely, these rising taxes could impact affordability, making it a key factor for real estate agents, appraisers, and potential homeowners to consider.
Percentage of Farm Returns in Cumberland County, VA Over the Last 10 Years
Farm tax returns in Cumberland County, Virginia, have generally fluctuated slightly around the 4.5% to 5% range over the past decade. This data suggests that while agriculture remains a significant activity, it hasn't seen substantial growth relative to other sectors. Investors and developers might need to consider this stable yet modest share when assessing the potential for agricultural investments or related real estate ventures.
Number of Mortgages by Occupancy Type in Cumberland County, VA Over the Last 5 Years in Cumberland County
The number of mortgages in Cumberland County, Virginia, has shown variability, with principal residences consistently leading the figures. For instance, 2021 saw a spike in principal residence mortgages at 656, while investment properties and second residences maintained relatively modest numbers. Notably, the upward trends in principal residence mortgages indicate a growing preference for primary living spaces over investment or secondary options. This could imply a stabilizing community attractive to long-term settlers, which might interest potential homeowners and real estate developers aiming for stable markets. Meanwhile, the lower and relatively steady figures for investment properties and second residences hint at limited speculative investment and vacation home interest, crucial insight for appraisers gauging property values and insurance agents assessing risk factors. This nuanced understanding of occupancy type helps decode the county’s residential dynamics, guiding strategic decisions for investors, developers, and those looking to move to the area.
Economic Outlook
Cumberland County, Virginia's real estate market has seen promising trends with the average taxable income per tax return rising from $39,749.17 in 2013 to $51,410.96 in 2021. The increase in state and local income taxes, from $3,275.51 in 2012 to $5,328.57 in 2021, along with a growing total tax liability per tax return, suggests potential economic growth and development. These shifts could signal a more affluent and economically stable population, which may positively affect property values... Read more
Average Taxable Income per Tax Return in Cumberland County, VA over the last 9 years
Cumberland County, Virginia has seen a steady rise in the average taxable income per tax return over the past nine years, reaching $51,410.96 in 2021 from $39,749.17 in 2013. While there were slight fluctuations, the overall trend suggests increasing economic stability and growth. This gradual increase in taxable income can be an encouraging indicator for potential investors, property developers, and real estate agents, suggesting a potentially more affluent and financially stable local population. For those thinking about moving here or providing services, this trend may signal an improving economic environment that might positively affect property values and the overall market dynamics.
Average State and Local Income Taxes Per Tax Return in Cumberland County, VA Over the Last 10 Years
Over the last decade, Cumberland County, Virginia has seen a noticeable increase in average state and local income taxes per tax return, starting from $3,275.51 in 2012 to a peak of $5,328.57 in 2021. This rising trend, especially with sharp increases between 2018 and 2021, might indicate a growing local economy and shifts in tax policies. For investors, real estate agents, and those considering moving to the area, it's worth noting that these increasing taxes could reflect enhanced public services or infrastructural developments. However, potential homeowners and insurance agents should consider how this could affect personal finances and insurance premiums in the long run.
Average Total Tax Liability Per Tax Return in Cumberland County, VA Over the Last 10 Years
Average total tax liability per tax return in Cumberland County, Virginia has steadily increased over the last decade, starting from approximately $4,655.56 in 2012 to around $6,095.64 in 2021. Significant upticks were noticeable in years like 2014 and 2020, where values spiked to nearly $5,434.32 and $5,868.71, respectively. This trend could impact financial planning for prospective homeowners, investors, and real estate developers, as rising tax liabilities might influence property values and overall affordability in the area. For insurance agents and appraisers, understanding these shifts can be crucial for accurate assessments and policy adjustments.
Cost of Living in Cumberland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,157 | $1,367 | $1,566 | $938 | $1,037 |
| 1 adult 4 children | $1,157 | $1,117 | $1,195 | $938 | $1,154 |
| 2 adults 3 children | $1,157 | $1,117 | $1,359 | $938 | $856 |
| 1 adult 3 children | $1,157 | $912 | $989 | $938 | $926 |
| 2 adults 2 children | $951 | $914 | $1,153 | $820 | $773 |
| 1 adult 2 children | $951 | $683 | $783 | $820 | $714 |
| 2 adults 1 child | $951 | $723 | $946 | $436 | $739 |
| 1 adult 1 child | $951 | $467 | $576 | $436 | $658 |
| 2 adults | $762 | $581 | $740 | $0 | $645 |
| 1 adult | $705 | $317 | $370 | $0 | $578 |
Safety trends & Data
Cumberland County, Virginia, has seen varying property crime trends over the past five years, with notable fluctuations in burglary and larceny-theft incidents. Burglary incidents peaked at three in both 2018 and 2020, then dropped to one in 2021, while larceny-theft saw its highest figures in 2020 with eight incidents. Vandalism peaked in 2019 with nine reported incidents and remained relatively consistent thereafter. These crime trends may influence real estate decisions, making it crucial... Read more
Property Crime Trends in Cumberland County, VA Over the Last 5 Years
Cumberland County, Virginia, has seen varying property crime trends over the past five years. Burglary incidents peaked in 2018 and 2020 at three each, but dropped to just one in 2021. Larceny-Theft saw the highest figures in 2020 with eight incidents, whereas fraud and vandalism appeared consistently but without significant spikes. Interestingly, vandalism peaked in 2019 with nine reported incidents. Overall, the fluctuations in property crime categories could impact real estate decisions, particularly for potential investors and those considering moving to the area, as understanding local crime trends is crucial for assessing risk and property value.
Demographics
Cumberland County, Virginia, shows a relatively balanced gender distribution among adults, with a slight female majority. Educational attainment highlights that most residents have at least a high school diploma, but higher education degrees are less common. The age distribution suggests an aging population, with substantial numbers in the 45-64 age brackets. Racial demographics reveal a predominantly White population, though there is a significant Black or African American presence. This mix... Read more
Race Distribution in Cumberland County, Virginia (2022)
Educational Attainment in Cumberland County, Virginia (2022)
Age Distribution in Cumberland County, Virginia
Citizen Population in Cumberland County, Virginia (2022)
Political Trends & Data
In Cumberland County, Virginia, the 2020 U.S. Presidential Election results hinted at a predominantly conservative leaning, with roughly 57% of the vote going to Republicans. Democrats captured around 42%, and Libertarian support was minimal, close to 1%. This conservative tendency could influence local policies and shape the county's real estate market dynamics, possibly making it more appealing to traditionally conservative... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Cumberland County, Virginia, the 2020 U.S. Presidential Election results appeared to tilt Republican with approximately 57% of the vote, while Democrats garnered around 42%. Libertarian support was minimal at roughly 1%, with other parties barely making an impact. This voting pattern may suggest a predominantly conservative leaning within the county, potentially influencing local and state political dynamics.
56.82% of voters voted for the Republican party in the 2020 Presidential Election
41.92% of voters voted for the Democrat party in the 2020 Presidential Election
1.00% of voters voted for the Livertarian party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
Cumberland County, Virginia has seen its student-to-teacher ratio fluctuate from a peak of 15 students per teacher in 2018 to a low of 12 in 2021, mostly hovering around the national average of 14. Smaller class sizes could attract families looking for more personalized education, potentially driving up interest in local real estate. These fluctuations may also influence appraisers assessing property values and could be important for insurers and builders interested in the area’s growth and... Read more
Student-to-teacher ratio in Cumberland County, Virginia over the last 10 years
Over the past decade, Cumberland County, Virginia has seen its student-to-teacher ratio fluctuate, peaking at 15 students per teacher in 2018 and reaching a low of 12 in 2021. Interestingly, this places the county mostly below or close to the national average of 14 students per teacher, offering potentially smaller class sizes for more personalized instruction. Such changes in the student-to-teacher ratio could be a significant draw for families prioritizing education, real estate agents marketing the area's schooling benefits, and appraisers assessing property values. Additionally, variations in class sizes might impact insurers and builders focused on the growth and demands of local communities.
