Danville city Real Estate and Livability Trends
Danville, Virginia, is seeing a rise in average taxable income, climbing from $39,640.67 in 2013 to $50,116.95 in 2021, hinting at an improving economic environment that could draw homebuyers and investors. Median home values edged up to $102,000 in 2022, lagging behind state and national growth rates but offering an appealing lower entry price point for investors. Fluctuating residential energy... Read more
Danville city Market Trends
Over the past eight years, Danville, Virginia has experienced a modest rise in median home values, edging up from $88,600 in 2015 to $102,000 in 2022—significantly lagging behind both state and national growth rates. Despite this slower appreciation, the lower entry price point could be appealing to investors looking for affordability and potential future gains. Fluctuating average residential... Read more
Median Value of Occupied Housing Units in Danville city, Virginia Over the Last 8 Years
Over the past eight years, Danville city, Virginia has seen a modest increase in median home values, rising from $88,600 in 2015 to $102,000 in 2022. This growth rate trails significantly behind both the state of Virginia and the national averages. For comparison, Virginia's median home values climbed from $245,000 in 2015 to $339,800 in 2022, while the national figures went from $125,500 to $179,400 in the same timeframe. Despite the slower growth, Danville's lower entry price point could present an attractive opportunity for investors seeking affordability and potential future gains in this region.
Residential Energy Tax Credit Per Tax Return in Danville city, VA Over the Last 9 Years
Danville city, Virginia has seen a noticeable fluctuation in average residential energy tax credits per tax return over the past nine years. Starting at $240.00 in 2013, there was a gradual increase to $365.22 in 2016, followed by a significant jump to $625.00 in 2017, peaking at $1,325.00 in 2018. This was followed by a drop in 2019 to $550.00, but then an increase again to $1,096.30 by 2021. Investors or those considering moving to Danville might interpret these shifts as indicators of either increasing residential energy efficiency investments or changes in tax policy, potentially reflecting community priorities or economic conditions.
Average Real Estate Taxes Per Tax Return in Danville city, VA Over the Last 10 Years
Real estate taxes in Danville city, Virginia have shown a general upward trend over the past decade, revealing noteworthy spikes particularly between 2017 and 2018 where taxes jumped from approximately $1,769.51 to $2,341.57. This increase might reflect rising property values or a shift in local tax policies. For prospective investors or those considering a move, understanding this upward trajectory can shed light on long-term cost implications. Real estate agents and appraisers in the area may also find these trends useful for adjusting market expectations and property valuations.
Percentage of Farm Returns in Danville city, VA Over the Last 10 Years
In Danville city, Virginia, the percentage of farm returns has seen minor fluctuations over the past 10 years, hovering around 0.33%. For those interested in agricultural investments, this data indicates a relatively stable level of farm activity, with small dips in 2017 and 2019 to approximately 0.28% and gradual recoveries thereafter. Farm tax returns reflect the number of taxpayers reporting income from farming operations, giving a snapshot of the local agricultural economy. This trend can suggest a resilient yet modest farming sector, which may influence land value assessments, property investments, and business opportunities centered around agriculture in the area.
Number of Mortgages by Occupancy Type in Danville city, VA Over the Last 5 Years in Danville city
In Danville, Virginia, there's a noticeable increase in mortgages for investment properties over the past five years, suggesting growing investor interest in the area. The principal residence category shows fluctuations, peaking in 2021, which could indicate shifts in the housing market or residents’ changing financial circumstances. Meanwhile, second residence mortgages remain low, highlighting less interest in vacation or secondary homes. Changes in occupancy type matter for investors and property developers as they reflect demand and potential profitability for different property categories. Appraisers and insurance agents can derive insights into property usage trends, which inform risk assessments and valuation. Real estate agents might find it useful to adjust their strategies based on these trends to better cater to market demands.
Economic Outlook
Danville city, Virginia, has seen a steady rise in average taxable income per tax return over the past nine years, climbing from $39,640.67 in 2013 to $50,116.95 in 2021. This could signal an improving economic landscape that might attract real estate investors and homebuyers. On the tax front, average state and local income taxes per tax return have fluctuated sharply, from $5,078.72 in 2012 to a peak of $8,752.87 in 2020. Such variability in taxes could impact the overall cost of living and... Read more
Average Taxable Income per Tax Return in Danville city, VA over the last 9 years
Over the past nine years, the average taxable income per tax return in Danville city, Virginia has shown a gradual upward trend, rising from $39,640.67 in 2013 to $50,116.95 in 2021. Notably, there was a significant jump between 2020 and 2021. This steady increase could potentially make Danville more appealing to investors, real estate agents, and those looking to move to the area, suggesting an improving economic landscape. However, it’s essential to approach with careful consideration given the varied yearly changes.
Average State and Local Income Taxes Per Tax Return in Danville city, VA Over the Last 10 Years
Over the past decade, Danville city, Virginia, has experienced a notable fluctuation in average state and local income taxes per tax return. Starting from $5,078.72 in 2012, there's been a considerable rise, peaking at $8,752.87 in 2020. Significant increases occurred particularly from 2017 to 2018, jumping from $5,918.01 to $8,303.19. This variable tax landscape could provide valuable insights for real estate agents and investors eyeing the area, as it impacts the overall cost of living and, potentially, property valuations. For those considering relocating or establishing businesses here, these insights into taxation trends might influence financial planning and long-term investment decisions.
Average Total Tax Liability Per Tax Return in Danville city, VA Over the Last 10 Years
Over the last decade in Danville city, Virginia, the average total tax liability per tax return has shown notable fluctuations, with a general upward trend. For instance, from $5,960.89 in 2012, it rose to $7,919.09 in 2021. These shifts hint at economic or policy changes affecting taxpayers, suggesting potential considerations for investors, homebuyers, and local businesses. Such variations may influence property values, insurance costs, and overall fiscal planning for those engaging with Danville city's real estate market or financial landscape.
Cost of Living in Danville city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,038 | $1,367 | $1,503 | $820 | $817 |
| 1 adult 4 children | $1,038 | $1,117 | $1,148 | $820 | $852 |
| 2 adults 3 children | $1,038 | $1,117 | $1,306 | $820 | $658 |
| 1 adult 3 children | $1,038 | $912 | $950 | $820 | $638 |
| 2 adults 2 children | $777 | $914 | $1,108 | $717 | $549 |
| 1 adult 2 children | $777 | $683 | $752 | $717 | $492 |
| 2 adults 1 child | $777 | $723 | $910 | $384 | $558 |
| 1 adult 1 child | $777 | $467 | $554 | $384 | $466 |
| 2 adults | $612 | $581 | $712 | $0 | $505 |
| 1 adult | $519 | $317 | $356 | $0 | $433 |
Safety trends & Data
Property crime trends in Danville, Virginia, reveal a fluctuating landscape over the past five years, with larceny-theft peaking at 443 cases in 2022. Embezzlement, arson, and motor vehicle theft incidents appear lower and more stable, while vandalism and burglary rates show variability, such as the 68 vandalism cases in 2021. These patterns could influence potential investors and real estate agents regarding the shifting safety landscape, impacting property values and insurance... Read more
Property Crime Trends in Danville city, VA Over the Last 5 Years
Property crime trends in Danville, Virginia show fluctuating patterns over the past five years. Larceny-theft consistently remains the most reported crime, peaking at 443 cases in 2022. Conversely, embezzlement, arson, and motor vehicle theft incidents appear lower and more stable. Vandalism and burglary rates show some variability, with occasional spikes like the 68 vandalism cases in 2021. These trends could inform potential investors and real estate agents about the shifting safety landscape, impacting property values and insurance premiums.
Demographics
Danville city, Virginia showcases a somewhat balanced gender distribution, with slightly more females than males. Educational attainment reveals a community where the majority hold at least a high school diploma, though advanced degree holders are a smaller group. The age distribution is fairly diverse, with a notable representation across different age brackets, pointing to a stable yet aging population. The racial landscape is predominantly Black or African American and White, supplemented by... Read more
Race Distribution in Danville city, Virginia (2022)
Educational Attainment in Danville city, Virginia (2022)
Age Distribution in Danville city, Virginia
Citizen Population in Danville city, Virginia (2022)
Political Trends & Data
Danville City, Virginia, tilted decisively towards the Democratic Party in the 2020 U.S. Presidential Election, with Democrats likely capturing about 60% of the votes. Republicans probably held around 38%, while third-party candidates virtually disappeared from the radar with a collective impact of just about 1%. This sharp Democratic preference may influence local policies and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Danville City, Virginia, showed a robust inclination toward the Democrat party in the 2020 U.S. Presidential Election, with Democrats possibly securing around 60% of the votes, notably higher than the Republican share, which hovered near 38%. The presence of third-party candidates was minimal, as the Libertarian and Other categories combined barely crossed the 1% threshold. This distribution suggests a potentially significant political lean toward the Democrats in this locality.
38.18% of voters voted for the Republican party in the 2020 Presidential Election
60.19% 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
0.63% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Danville City, Virginia, has generally hovered around the national average of 14 students per teacher over the past decade. Peaks were seen in 2018 with 15 students per teacher and lows in 2021 at 12 per teacher. This variability could influence educational outcomes and resource allocation, making it crucial for investors, real estate developers, and families. Lower ratios hint at more individualized student attention, potentially drawing parents prioritizing... Read more
Student-to-teacher ratio in Danville City, Virginia over the last 10 years
The student-to-teacher ratio in Danville City, Virginia has fluctuated over the past decade but generally stays around the national average of 14 students per teacher. Notable peaks occurred in 2018 with a high of 15 students per teacher, while the lowest ratio was observed in 2021 at 12 students per teacher. This variability could impact educational outcomes and resource allocation, making it an important consideration for potential investors, real estate developers, and families looking to move to the area. Lower ratios suggest more individualized attention for students, which might attract parents seeking quality education for their children, while higher ratios may indicate potential strains on educational resources.
