Falls Church city Real Estate and Livability Trends
Falls Church City, Virginia's average taxable income per tax return surged from $134,483.36 in 2013 to $215,753.30 in 2021, hinting at a robust local economy and likely climbing property values. Median home values in the area jumped from $718,900 in 2015 to $938,500 in 2022, outpacing both state and national averages, indicating a hot spot for real estate investors. The increase in real estate... Read more
Falls Church city Market Trends
Falls Church City, Virginia, has experienced a striking rise in median home values, jumping from $718,900 in 2015 to $938,500 in 2022, outpacing both state and national averages. The increase in real estate taxes per return, up from $7,814.52 in 2012 to $12,309.73 in 2021, suggests growing property values and demand, potentially making it a hot spot for investors and developers. Additionally, the... Read more
Median Value of Occupied Housing Units in Falls Church city, Virginia Over the Last 8 Years
Falls Church City, Virginia, has seen a significant increase in median home values over the past eight years, from $718,900 in 2015 to $938,500 in 2022. This local trend far outpaces both the state and national figures, with Virginia's median home values growing from $245,000 in 2015 to $339,800 in 2022, while the national median rose from $125,500 to $179,400 during the same period. Prospective investors and homebuyers might find this location appealing due to its robust appreciation rates, hinting at a strong local demand and potentially lucrative future returns.
Residential Energy Tax Credit Per Tax Return in Falls Church city, VA Over the Last 8 Years
Residential energy tax credits in Falls Church city, Virginia have shown notable fluctuations over the past eight years, with average credits per tax return spiking to as high as $1,750.00 in 2019 and dropping to $360.00 in 2017. These variations could suggest changing local investment in energy-efficient home improvements or indicate shifts in policy or economic conditions affecting homeowner incentives. For potential investors, real estate agents, and those looking to build property, these trends may signal critical periods of increased homeowner engagement with energy efficiency upgrades, potentially impacting property values and market dynamics in the area.
Average Real Estate Taxes Per Tax Return in Falls Church city, VA Over the Last 10 Years
Over the past decade, Falls Church City, Virginia has seen a notable increase in real estate taxes per tax return, growing from $7,814.52 in 2012 to $12,309.73 in 2021. This trend suggests rising property values and potentially higher demand, making it an area of interest for real estate investors, developers, and appraisers. For residents and those considering a move, the rising taxes could indicate a robust local economy but also higher living costs. Real estate agents and insurance agents should consider these increasing tax burdens when advising clients, as they impact overall property affordability and market dynamics.
Number of Mortgages by Occupancy Type in Falls Church city, VA Over the Last 5 Years in Falls Church city
Over the past five years in Falls Church City, Virginia, the majority of mortgage activity has centered on principal residences, with notable spikes in 2020 and 2021. Investment property mortgages have consistently remained a smaller yet stable portion of the market, though a slight decline is apparent more recently. Changes in occupancy types, especially in a market with a high proportion of principal residences, could signal shifts in long-term residency versus short-term investment, impacting property values, market stability, and neighborhood community dynamics. These trends are crucial for stakeholders such as investors, real estate agents, and appraisers, as they reflect broader economic and market conditions that could influence future investment strategies, property valuations, and even insurance considerations.
Economic Outlook
Falls Church City, Virginia's average taxable income per tax return has surged from $134,483.36 in 2013 to $215,753.30 in 2021, hinting at a robust local economy and likely climbing property values. State and local income taxes have also risen, reaching $23,901.10 in 2021 from $11,320.74 in 2012, which might reflect higher incomes or policy changes, impacting cost-of-living assessments. The total tax liability per tax return has nearly doubled over a decade, suggesting economic vibrancy but... Read more
Average Taxable Income per Tax Return in Falls Church city, VA over the last 9 years
Falls Church City, Virginia has seen a significant rise in the average taxable income per tax return over the past nine years, jumping from $134,483.36 in 2013 to $215,753.30 in 2021. This steady increase, especially the sharp uptick post-2017, could signal a strong local economy and increasing property values, which is promising for investors and real estate agents. Higher taxable incomes might also imply more affluent residents, influencing appraisals and insurance costs. This growth trend offers intriguing opportunities for those considering moving to or building property in the area.
Average State and Local Income Taxes Per Tax Return in Falls Church city, VA Over the Last 10 Years
Over the past decade, state and local income taxes per tax return in Falls Church city, Virginia, have shown a general upward trend, from $11,320.74 in 2012 to $23,901.10 in 2021. This significant increase may suggest rising incomes or changes in tax policies, making it especially notable for investors, real estate agents, and new residents considering the area's fiscal dynamics. These adjustments in tax liabilities could impact property values, insurance valuations, and overall cost of living, offering crucial financial insights for stakeholders.
Average Total Tax Liability Per Tax Return in Falls Church city, VA Over the Last 10 Years
Falls Church city, Virginia has seen a notable increase in the average total tax liability per tax return over the past decade. From 2012 to 2021, this figure has almost doubled from around $27,859.18 to approximately $48,240.83. Such a trend may imply higher incomes or perhaps changes in tax policy, potentially making Falls Church an appealing area for higher-income professionals and indicating strong economic growth. However, it also suggests that new residents and investors might expect a higher cost of living, which could influence decisions in real estate investments and property developments.
Cost of Living in Falls Church city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,598 | $1,854 | $1,492 | $3,558 | $2,858 |
| 1 adult 4 children | $2,598 | $1,514 | $1,137 | $3,558 | $2,887 |
| 2 adults 3 children | $2,598 | $1,515 | $1,296 | $3,558 | $2,595 |
| 1 adult 3 children | $2,598 | $1,236 | $941 | $3,558 | $2,689 |
| 2 adults 2 children | $2,077 | $1,240 | $1,100 | $3,100 | $2,072 |
| 1 adult 2 children | $2,077 | $926 | $746 | $3,100 | $2,188 |
| 2 adults 1 child | $2,077 | $980 | $904 | $1,614 | $1,484 |
| 1 adult 1 child | $2,077 | $633 | $550 | $1,614 | $1,537 |
| 2 adults | $1,825 | $787 | $709 | $0 | $1,003 |
| 1 adult | $1,796 | $429 | $354 | $0 | $981 |
Safety trends & Data
In Falls Church city, Virginia, property crime trends have shown notable fluctuations over the last five years, particularly in larceny-theft and fraud cases. Larceny-theft incidents peaked at 19 in 2022, up from a low of 5 in 2019, potentially reflecting underlying socio-economic factors. Fraud incidents hit a high of 16 in 2018 but have since decreased sharply. Burglary rates remain low but doubled from 1 in 2021 to 2 in 2022. Vandalism incidents, peaking at 10 in both 2018 and 2019, indicate... Read more
Property Crime Trends in Falls Church city, VA Over the Last 5 Years
In Falls Church city, Virginia, property crime trends over the last five years show notable fluctuations, particularly in larceny-theft and fraud cases. Larceny-theft incidents saw a high of 19 in 2022, fluctuating significantly from a low of 5 in 2019, suggesting potential underlying socio-economic factors. Fraud incidents peaked in 2018 with 16 reported cases, decreasing sharply to a consistent low in subsequent years. Burglary rates have remained relatively low but doubled from 1 in 2021 to 2 in 2022. Vandalism remains a recurring issue, with yearly occurrences peaking at 10 in both 2018 and 2019, indicating a persistent challenge for the locality. These trends are crucial for the community and those involved in real estate and insurance sectors, highlighting areas that may need focused crime prevention efforts.
Demographics
Falls Church city, Virginia presents an interesting demographic landscape balanced between male and female adults, with slightly more females. Educational attainment is notably high, with a significant number of residents holding bachelor’s or advanced degrees, which likely influences economic and social aspects of the community. The age distribution skews towards middle-aged adults, reflecting a population that may prioritize stability and long-term residency. Racially, the city is... Read more
Race Distribution in Falls Church city, Virginia (2022)
Educational Attainment in Falls Church city, Virginia (2022)
Age Distribution in Falls Church city, Virginia
Citizen Population in Falls Church city, Virginia (2022)
Political Trends & Data
Falls Church City in Virginia exhibited a significant Democratic preference in the 2020 U.S. Presidential Election, with about 81% of the vote going to the Democratic Party compared to roughly 17% for Republicans. This political landscape could potentially influence local real estate trends by attracting buyers and investors with similar political inclinations, making it an interesting area for focused political campaigning and development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Falls Church City in Virginia saw a strong leaning towards the Democratic Party in the 2020 U.S. Presidential Election, with about 81% of the votes. Republicans garnered roughly 17%, while Libertarians and other parties made up a small fraction of the vote. The disparity suggests a significant Democratic presence in this locality, which could be crucial for future campaign strategies and political efforts.
16.90% of voters voted for the Republican party in the 2020 Presidential Election
81.03% of voters voted for the Democrat party in the 2020 Presidential Election
1.29% of voters voted for the Livertarian party in the 2020 Presidential Election
0.78% of voters voted for the Other party in the 2020 Presidential Election
School Data
Falls Church City, Virginia's student-to-teacher ratio has fluctuated between 11 and 15 over the past decade, often dipping below the national average of 14. This trend suggests smaller class sizes and potentially more individualized attention for students, making the area appealing to families prioritizing education. For real estate agents and investors, these figures could indicate robust school district strengths and long-term community... Read more
Student-to-teacher ratio in Falls Church City, Virginia over the last 10 years
The student-to-teacher ratio in Falls Church City, Virginia has fluctuated over the past decade, ranging from a low of 11 in 2016 and a high of 15 in 2022. Notably, the ratio frequently dipped below the current national average of 14 students per teacher, indicating potentially smaller class sizes and more individualized attention for students compared to other regions. This variability in class size could be a significant factor for families prioritizing education quality, real estate agents highlighting school district strengths, and investors assessing long-term community growth and stability.
