Essex County Real Estate and Livability Trends
Essex County, Virginia has seen a rise in median home values from $164,400 in 2015 to $217,000 in 2022, suggesting a potentially affordable market compared to the state median. Tax policies like increased real estate taxes, up to around $3,000 by 2021, along with rising residential energy tax credits per tax return, reflect growing interests in energy-efficient improvements. The stable yet... Read more
Essex County Market Trends
In Essex County, Virginia, median home values have seen a steady increase from $164,400 in 2015 to $217,000 in 2022, remaining below the statewide median and hinting at a potentially more affordable market. Residential energy tax credits per tax return have surged to $1,314.29 by 2021, reflecting growing interest in energy-efficient home improvements. Real estate taxes have trended upwards,... Read more
Median Value of Occupied Housing Units in Essex County, Virginia Over the Last 8 Years
Over the past eight years, Essex County, Virginia has seen a consistent rise in median home values from $164,400 in 2015 to $217,000 in 2022. This growth is interesting when compared to Virginia's overall median value, which started at $245,000 in 2015 and surged to $339,800 in 2022. On a national level, the median home value witnessed a gentler climb, from $125,500 in 2015 to $179,400 in 2022. These trends suggest that while Essex County is experiencing growth, it still remains more affordable compared to the statewide median, potentially making it an attractive option for investors or those seeking more value for their money.
Residential Energy Tax Credit Per Tax Return in Essex County, VA Over the Last 9 Years
Over the past nine years in Essex County, Virginia, residential energy tax credits per tax return have seen significant growth. Starting from $290.91 in 2013, there has been a noticeable upward trend, notably peaking at $1,400.00 in 2019. While there has been some fluctuation, 2021 finished strong at $1,314.29. This surge could suggest a growing local interest in energy-efficient home improvements, which may intrigue potential investors and real estate agents focusing on green properties. Additionally, this trend can impact property appraisals and insurance evaluations, painting Essex County as a forward-thinking community prioritizing sustainability.
Average Real Estate Taxes Per Tax Return in Essex County, VA Over the Last 10 Years
Real estate taxes per tax return in Essex County, Virginia have shown a general upward trend over the past decade, starting at about $2,257 in 2012 and reaching roughly $3,000 by 2021. Notable spikes occurred in 2018 and 2019, where average taxes jumped to over $3,000, potentially indicating changes in county tax policies or increases in property values. These trends could be relevant for potential investors, buyers, and real estate professionals seeking to understand the tax burden and financial planning necessary for property ownership in this area.
Percentage of Farm Returns in Essex County, VA Over the Last 10 Years
Over the past decade, Essex County, Virginia has seen a relatively stable percentage of farm tax returns, hovering mostly between 1.1% and 1.5%. These numbers suggest some consistency in the agricultural sector, with minor fluctuations indicating potential variances in farm productivity or reporting practices. The steady nature of these returns might imply a resilient farming community that could be appealing for those looking to invest in agricultural properties or build new developments in a stable rural market. For current residents, this stability might reinforce a sense of community and sustained economic activity, helping to maintain property values and local investments.
Number of Mortgages by Occupancy Type in Essex County, VA Over the Last 5 Years in Essex County
Occupancy type trends in Essex County, Virginia over the last five years show a fluctuating yet notable interest in principal residences, with mortgage counts peaking in 2021 at 893 before seeing a decrease in subsequent years. Investment properties remain a small segment, barely changing from year to year, indicating possibly stable but limited investment opportunities. Second residences have shown a slight increase and then decline, peaking notably in 2020. Changes in occupancy type are crucial for investors and real estate agents, as they can signal shifts in market preferences and economic conditions, impacting property values and rental income potential. These trends also influence appraisers' assessments and insurance agents' risk calculations, affecting overall investment strategy and property development plans.
Economic Outlook
Essex County, Virginia has experienced a steady rise in average taxable income per tax return over the past nine years, peaking at $63,980.99 in 2021, which may reflect stronger economic conditions. Concurrently, the average state and local income taxes per tax return have also increased, hitting $8,904.88 in 2021, potentially influencing investment and residency decisions due to higher tax liabilities. Fluctuations in total tax liability per tax return, with recent peaks suggesting a growing... Read more
Average Taxable Income per Tax Return in Essex County, VA over the last 9 years
Over the past nine years, Essex County, Virginia has witnessed a modest yet consistent increase in average taxable income per tax return, culminating at $63,980.99 in 2021. Notably, there's been a substantial uptick from 2020 to 2021, signaling potentially stronger economic conditions or wage growth. This trajectory could suggest promising prospects for investors, real estate personnel, and others with financial stakes in the area, as it hints at a steadily improving economic base.
Average State and Local Income Taxes Per Tax Return in Essex County, VA Over the Last 10 Years
Essex County, Virginia has seen a consistent rise in average state and local income taxes per tax return over the past decade, culminating in a significant jump to $8,904.88 in 2021. This trend suggests increasing tax liabilities which could impact decisions for investors and potential residents alike. For real estate professionals and builders, these figures may moderate the attractiveness of property investments, while insurance agents and appraisers might need to factor these higher taxes into their assessments and client advice.
Average Total Tax Liability Per Tax Return in Essex County, VA Over the Last 10 Years
Essex County, Virginia has seen some fluctuation in average total tax liability per tax return over the past decade, with notable peaks in 2014 at $8,416.05 and in 2021 reaching $9,389.25. A dip occurred in 2018, touching $7,126.68, followed by a sharp recovery. These variations could indicate changes in income levels or tax regulations and might be essential for investors and real estate agents gauging economic stability or growth potential. The upward trend in recent years potentially signals a growing affluence or economic activity, which bodes well for those looking to invest or build in the area.
Cost of Living in Essex County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,188 | $1,492 | $1,681 | $1,259 | $1,244 |
| 1 adult 4 children | $1,188 | $1,218 | $1,284 | $1,259 | $1,371 |
| 2 adults 3 children | $1,188 | $1,219 | $1,459 | $1,259 | $1,017 |
| 1 adult 3 children | $1,188 | $995 | $1,062 | $1,259 | $1,127 |
| 2 adults 2 children | $930 | $998 | $1,237 | $1,102 | $878 |
| 1 adult 2 children | $930 | $745 | $840 | $1,102 | $833 |
| 2 adults 1 child | $930 | $789 | $1,015 | $589 | $798 |
| 1 adult 1 child | $930 | $509 | $618 | $589 | $702 |
| 2 adults | $746 | $633 | $793 | $0 | $657 |
| 1 adult | $690 | $346 | $396 | $0 | $577 |
Safety trends & Data
Essex County, Virginia has experienced varying property crime rates over the last five years, particularly with larceny-theft peaking at 43 incidents in 2020 before a slight decline. Vandalism and fraud incidents have been relatively stable, with a noteworthy rise in fraud cases to 7 in 2022. Burglary saw a minor spike in 2020, whereas motor vehicle theft has nearly disappeared in recent years. These trends might influence real estate values and insurance premiums, providing valuable insights... Read more
Property Crime Trends in Essex County, VA Over the Last 5 Years
Essex County, Virginia has seen fluctuations in property crime over the last five years, with larceny-theft consistently dominating the statistics and peaking at 43 incidents in 2020 before slightly declining. Interestingly, vandalism and fraud incidents appear relatively stable, though 2022 saw a notable increase in fraud cases to 7. Instances of motor vehicle theft and burglary have remained relatively low overall, with burglary seeing a minor spike in 2020 and motor vehicle theft almost disappearing in recent years. The diverse nature of property crimes in the county could impact real estate and insurance premiums and offer insights for potential investors or new residents evaluating the area's safety climate.
Demographics
Essex County, Virginia showcases a predominantly female population, with 54.20% females and 45.80% males. In terms of education, a considerable portion of adults have attained a high school diploma or equivalent, yet only a minority hold a bachelor's degree or higher. The age distribution reveals a significant number of residents aged 55 and older, suggesting an aging population. The racial makeup is primarily White and Black or African American, with other racial groups present in very small... Read more
Race Distribution in Essex County, Virginia (2022)
Educational Attainment in Essex County, Virginia (2022)
Age Distribution in Essex County, Virginia
Citizen Population in Essex County, Virginia (2022)
Political Trends & Data
Essex County in Virginia exhibited a sharply competitive political environment in the 2020 U.S. Presidential Election, with both Republican and Democrat candidates capturing nearly 50% of the vote each. Such a tight race suggests potential shifts in voter allegiance or a deeply entrenched bipartisan divide. Additionally, the Libertarian candidate's small but significant share of votes hints at an undercurrent of independent or alternative political leanings in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Essex County in Virginia saw a nearly even split in the 2020 U.S. Presidential Election, with the Republican and Democrat candidates each capturing almost 50% of the vote. The narrow margin highlights a competitive political landscape in this county, suggesting potential shifts or deeply rooted bipartisan divides. Interestingly, the Libertarian candidate received a small yet notable share of votes, possibly indicating a presence of independent or alternative political sentiment among the electorate.
49.77% of voters voted for the Republican party in the 2020 Presidential Election
49.17% of voters voted for the Democrat party in the 2020 Presidential Election
0.94% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Other party in the 2020 Presidential Election
School Data
Essex County, Virginia has seen its student-to-teacher ratio generally trend downward over the last decade, dropping from 13 students per teacher in 2014 to around 12 in recent years, with notable dips to 11 in 2019 and 2021, compared to the national average of 14. This suggests improved individual student attention and potentially higher education quality, which could attract relocating families. For investors, developers, and real estate agents, these lower ratios might signal a potential... Read more
Student-to-teacher ratio in Essex County, Virginia over the last 10 years
Essex County, Virginia has seen its student-to-teacher ratio generally trend downward over the last decade, dropping from 13 students per teacher in 2014 to around 12 in recent years. Notably, the ratio dipped as low as 11 in 2019 and 2021, compared to the national average of 14. These shifts suggest improved individual attention for students and, potentially, higher education quality, which could be a draw for families considering relocation. For investors, developers, and real estate agents, lower student-to-teacher ratios could signify a potential boost in long-term property values and market attractiveness. Appraisers and insurance agents might also find these trends relevant as they evaluate local family-oriented amenities.
