Floyd County Real Estate and Livability Trends
Floyd County, Virginia has seen rising average taxable incomes and higher state and local income taxes over the past decade, suggesting a wealthier consumer base that could impact property values and appraisals. Median home values have increased significantly from $155,300 in 2015 to $205,400 in 2022, though still below the state’s median, potentially drawing first-time homebuyers or investors... Read more
Floyd County Market Trends
Median home values in Floyd County, Virginia, have risen from $155,300 in 2015 to $205,400 in 2022, still trailing the state's median, which shot up to $339,800. This price gap could attract first-time homebuyers or investors seeking affordability. Average residential energy tax credits have significantly increased, hinting at a focus on energy-efficient home improvements, potentially boosting... Read more
Median Value of Occupied Housing Units in Floyd County, Virginia Over the Last 8 Years
Median home values in Floyd County, Virginia, have shown fluctuating trends over the past eight years, starting at $155,300 in 2015 and climbing to $205,400 in 2022. While this growth represents a notable increase, it is essential to recognize that Floyd County's housing market still remains quite lower-priced compared to the statewide median value in Virginia, which soared from $245,000 in 2015 to $339,800 in 2022. This gap can be enticing for investors or first-time homebuyers looking for more affordable properties within Virginia. On a national scale, Floyd County's values follow an upward trend similar to the broader growth seen in the United States, where median home values rose from $125,500 to $179,400 during the same time frame. The comparatively moderate pricing and consistent appreciation in Floyd County might offer significant opportunities for those considering property investments or relocations outside the more expensive state and national averages.
Residential Energy Tax Credit Per Tax Return in Floyd County, VA Over the Last 8 Years
Over the past eight years, Floyd County, Virginia has seen notable fluctuations in the average residential energy tax credit per tax return, with significant increases observed in recent years. From $321.43 in 2013, the tax credit surged to $2,071.43 by 2019 and remained relatively high at $1,620 in 2021. These trends may suggest a growing investment in energy-efficient home improvements, making Floyd County a potentially attractive location for investors and real estate agents focusing on sustainable living. This data could also imply opportunities for appraisers and insurance agents to adjust valuations and coverage based on enhanced property values due to energy-efficient upgrades.
Average Real Estate Taxes Per Tax Return in Floyd County, VA Over the Last 10 Years
Floyd County, Virginia has seen a steady increase in average real estate taxes per tax return over the last decade. Starting at approximately $1,533.83 in 2012, taxes have risen to around $2,652.17 by 2021. Notable jumps occurred between 2015 and 2016, from $1,748.76 to $1,848.82, and again between 2017 and 2018, from $1,800.00 to $2,345.45. This trend suggests that property taxes in the area might be becoming significantly higher, affecting decisions for potential homeowners, investors, and real estate agents.
Percentage of Farm Returns in Floyd County, VA Over the Last 10 Years
Over the past decade, Floyd County, Virginia has seen a generally declining trend in the percentage of farm tax returns. Starting at 8.76% in 2012, the figures have dipped slightly each year, landing at approximately 7.56% by 2021. This data could imply shifting economic dynamics in the area, possibly signaling that fewer residents are relying on farming as their primary source of income, or that farm operations are consolidating. For those looking to invest, move, or build property in Floyd County, understanding these trends is valuable as it might suggest changing economic and land use patterns, affecting potential opportunities and community priorities.
Number of Mortgages by Occupancy Type in Floyd County, VA Over the Last 5 Years in Floyd County
Over the last five years in Floyd County, Virginia, there's been a noticeable fluctuation in the number of mortgages by occupancy type. Mortgages for principal residences have consistently dominated, though there was a decline from 824 in 2021 to 604 in 2022. Second residences and investment properties have shown much lower numbers, with investment property mortgages rising marginally from 16 in 2018 to 31 in 2022, and second residence mortgages experiencing minor ups and downs. These shifts may matter for potential investors or residents as they hint at changing demand patterns, potential rental market strength, and insurance risk profiles. Real estate professionals and appraisers could find these trends useful for advising clients on market dynamics, while builders might see opportunities in catering to the most prominent trends.
Economic Outlook
Over the last nine years, Floyd County, Virginia has seen a notable increase in average taxable income per tax return, starting at approximately $46,322.29 in 2013 and reaching around $62,902.57 in 2021. Alongside this, the county has also experienced a substantial rise in average state and local income taxes, from $4,649.22 in 2012 to $10,513.04 by 2021. Similarly, average total tax liabilities per tax return have generally risen, from about $6,233.87 in 2012 to $8,655.61 in 2021, with a... Read more
Average Taxable Income per Tax Return in Floyd County, VA over the last 9 years
Over the last nine years, Floyd County, Virginia has seen a notable upward trajectory in average taxable income per tax return, starting at approximately $46,322.29 in 2013 and reaching around $62,902.57 in 2021. This steady growth is a positive indicator for potential investors, home builders, and real estate agents, signaling a potentially strong and more affluent consumer base. It could also impact appraisals and insurance premiums, as rising incomes often correlate with higher property values and an evolving demographics landscape.
Average State and Local Income Taxes Per Tax Return in Floyd County, VA Over the Last 10 Years
Floyd County, Virginia has seen a notable upward trend in average state and local income taxes per tax return over the past decade. Starting at around $4,649.22 in 2012, the figure has surged to $10,513.04 by 2021. This could reflect rising incomes or increasing tax rates, making it a potentially critical factor for investors, potential homeowners, and real estate professionals to consider. Building costs, property values, and living expenses might be influenced by these changes, signaling important dynamics for those engaged in the local property market or community planning.
Average Total Tax Liability Per Tax Return in Floyd County, VA Over the Last 10 Years
Floyd County, Virginia has seen fluctuating but generally rising average total tax liabilities per tax return over the past decade. In 2012, the average liability was about $6,233.87, gradually increasing to $8,655.61 by 2021. Notably, there's a significant uptick starting in 2020, when the average jumped to $8,303.07. For potential investors or those considering a move to the area, this trend might suggest an expanding economy or rising property values, though it could also imply higher living costs. Those in real estate or appraising might find this indicative of a steadily growing market.
Cost of Living in Floyd County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,127 | $1,552 | $1,512 | $954 | $1,119 |
| 1 adult 4 children | $1,127 | $1,268 | $1,154 | $954 | $1,236 |
| 2 adults 3 children | $1,127 | $1,268 | $1,313 | $954 | $908 |
| 1 adult 3 children | $1,127 | $1,035 | $955 | $954 | $994 |
| 2 adults 2 children | $793 | $1,038 | $1,114 | $820 | $763 |
| 1 adult 2 children | $793 | $775 | $756 | $820 | $688 |
| 2 adults 1 child | $793 | $820 | $915 | $384 | $705 |
| 1 adult 1 child | $793 | $530 | $557 | $384 | $612 |
| 2 adults | $636 | $659 | $716 | $0 | $630 |
| 1 adult | $588 | $360 | $358 | $0 | $552 |
Safety trends & Data
Property crime in Floyd County, Virginia has seen notable fluctuations over the past five years. Larceny - Theft peaked in 2019 with 16 cases but fell dramatically to 2 cases by 2021. In contrast, Vandalism surged to 28 cases in 2021, a significant spike compared to other years. Burglary and Motor Vehicle Theft rates remained consistently low. Investors or prospective residents might consider these patterns indicative of a generally low but occasionally spiking rate of specific property... Read more
Property Crime Trends in Floyd County, VA Over the Last 5 Years
Property crime trends in Floyd County, Virginia over the last five years indicate varying levels of criminal activity, with notable fluctuations in categories such as Larceny - Theft and Vandalism. Larceny - Theft showed a peak in 2019 with 16 reported cases but drastically declined to just 2 cases in 2021. Vandalism incidents saw a significant surge in 2021, reaching 28 cases, whereas other years maintained much lower figures. Burglary and Motor Vehicle Theft rates remained relatively low throughout the period. Those looking to invest, move to, or develop property in Floyd County might find value in these sporadic crime patterns, which suggest a generally low but occasionally spiking rate of certain property crimes.
Demographics
In Floyd County, Virginia, there's a mild gender balance with slightly more females than males. Educational attainment reveals a strong high school completion rate but lower levels of higher education participation. Age distribution skews older, suggesting potential challenges and opportunities in healthcare and services for seniors. Racial diversity is limited, with a predominantly White population, and small proportions of other races. These factors collectively hint towards community... Read more
Race Distribution in Floyd County, Virginia (2022)
Educational Attainment in Floyd County, Virginia (2022)
Age Distribution in Floyd County, Virginia
Citizen Population in Floyd County, Virginia (2022)
Political Trends & Data
Floyd County, Virginia, leans heavily conservative, as indicated by the 2020 U.S. Presidential Election where about 66.1% of votes supported the Republican candidate. The Democratic candidate received approximately 31.9%, showcasing less than half the Republican support. Libertarians and other minor parties barely made a dent, collectively holding just over 2%. This conservative bent could influence local policies, community preferences, and potentially, property market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Floyd County, Virginia, demonstrated a significant preference for the Republican party in the 2020 U.S. Presidential Election, with approximately 66.1% of the vote. The Democratic party garnered around 31.9%, showing less than half the support of the Republicans. Libertarian votes were minimal at around 1.6%, and other parties combined received less than 1%. This suggests a strong conservative leaning in the voter base of Floyd County.
66.14% of voters voted for the Republican party in the 2020 Presidential Election
31.92% of voters voted for the Democrat party in the 2020 Presidential Election
1.56% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
The student-to-teacher ratio in Floyd County, Virginia, has generally hovered around 16 students per teacher over the past decade, peaking at 16.81 in 2021 before a sharp drop to 13.59 in 2023. This recent decline positions Floyd County below the current US average of 14 students per teacher. For investors, real estate agents, and families, this could signal a move towards smaller class sizes and potentially higher educational quality, making the area more attractive for those prioritizing... Read more
Student-to-teacher ratio in Floyd County, Virginia over the last 10 years
The student-to-teacher ratio in Floyd County, Virginia has fluctuated but generally hovered around 16 students per teacher for the last decade, peaking at 16.81 in 2021 before dropping significantly to 13.59 in 2023. This recent decline brings Floyd County below the current US national average of 14 students per teacher. For investors, real estate agents, and families considering a move to Floyd County, this trend could indicate a positive shift towards smaller class sizes, potentially enhancing the quality of education. Smaller ratios often suggest more personalized instruction, which can be appealing for those prioritizing educational quality.
