Fredericksburg city Real Estate and Livability Trends
Fredericksburg City, Virginia's real estate market is showing distinct upward trends possibly indicative of rising affluence. Median home values have soared from $317,900 in 2015 to $438,400 in 2022, accompanied by increasing investments in energy-efficient home improvements, as evidenced by average residential energy tax credits rising from $366.67 in 2013 to $3,036.84 by 2021. Real estate taxes... Read more
Fredericksburg city Market Trends
Fredericksburg, Virginia's housing market is on a notable upswing, with median home values jumping from $317,900 in 2015 to $438,400 in 2022, distinctly outpacing the national and state averages. Average residential energy tax credits spiked from $366.67 in 2013 to $3,036.84 by 2021, indicating increasing investments in energy-efficient home improvements. Real estate taxes also saw a steady rise... Read more
Median Value of Occupied Housing Units in Fredericksburg city, Virginia Over the Last 8 Years
Median home values in Fredericksburg city, Virginia, have surged to $438,400 in 2022 from $317,900 in 2015, showcasing a robust growth trajectory. Comparing this to the national value, which only reached $179,400 in 2022, demonstrates Fredericksburg's dynamic market appeal. Similarly, Fredericksburg has outpaced Virginia's state-wide median of $339,800 in 2022, making it a focal point for investors and homebuyers seeking substantial value appreciation. This growth trend is crucial for stakeholders interested in capitalizing on the burgeoning housing market in Fredericksburg.
Residential Energy Tax Credit Per Tax Return in Fredericksburg city, VA Over the Last 8 Years
Fredericksburg, Virginia has seen a notable rise in the average residential energy tax credit per tax return over the past eight years. In 2013, the average was around $366.67, climbing substantially to $788.89 by 2017 and reaching $3,036.84 in 2021. This significant increase may suggest growing investment in energy-efficient home improvements among residents, potentially driven by incentives or rising awareness of energy costs. For investors, appraisers, or builders, this trend highlights an apparent consumer interest in energy-efficient properties, which could affect property values and insurance considerations.
Average Real Estate Taxes Per Tax Return in Fredericksburg city, VA Over the Last 10 Years
Over the past decade, Fredericksburg city in Virginia has experienced a steady increase in average real estate taxes per tax return, starting from approximately $2,831.58 in 2012 and reaching about $4,279.61 by 2021. This trend might suggest a generally rising property value and local development, which could interest investors, real estate agents, and potential homeowners. Though it's worth noting for insurance agents and appraisers as it implies a potential increase in property costs and related insurance premiums. Understanding these trends helps frame the economic and real estate landscape of Fredericksburg city for any stakeholders.
Percentage of Farm Returns in Fredericksburg city, VA Over the Last 6 Years
In Fredericksburg city, Virginia, the percentage of farm tax returns over the last six years showed a slight decline. Starting at 0.24% in 2012, the percentage dropped to just 0.15% by 2019. This suggests a modest decrease in farming operations reporting taxes, indicating a potential shift away from agricultural activities. This is important for potential investors or residents as it hints at evolving economic trends which might impact land use, real estate values, and local economic opportunities.
Number of Mortgages by Occupancy Type in Fredericksburg city, VA Over the Last 5 Years in Fredericksburg city
In Fredericksburg city, Virginia, the trend over the last five years shows a higher volume of mortgages for principal residences in comparison to investment properties and second residences. This shift might indicate a growing preference for owner-occupied homes, potentially translating to a more stable housing market with fewer risks associated with speculative investments. For investors, the modest but consistent demand for investment properties could still represent opportunity, albeit with cautious optimism. Appraisers, insurance agents, and real estate agents should consider these patterns to better assess property values and risks. Those looking to move to or invest in Fredericksburg will find it useful to understand these dynamics as they reflect market stability and potential future growth.
Economic Outlook
Fredericksburg city, Virginia, has recorded a substantial rise in average taxable income per tax return, climbing from $61,904.85 in 2013 to $101,971.62 in 2021. Coupled with a noteworthy increase in average state and local income taxes per tax return—from $6,819.60 in 2012 to $13,490.30 in 2021—this trend indicates higher incomes or a heavier tax load. Additionally, the average total tax liability per tax return has grown significantly, reaching $19,418.92 in 2021 from $10,446.31 in 2012.... Read more
Average Taxable Income per Tax Return in Fredericksburg city, VA over the last 9 years
Fredericksburg city, Virginia has seen a notable upward trajectory in average taxable income per tax return over the past nine years. Starting at $61,904.85 in 2013, there has been steady growth, culminating in a significant leap to $101,971.62 in 2021. This increasing trend suggests a potential rise in affluence and economic stability within the area, making it an attractive proposition for investors, real estate agents, and insurance agents alike. This growth could indicate a robust market for property development and a promising locale for those looking to move to the city.
Average State and Local Income Taxes Per Tax Return in Fredericksburg city, VA Over the Last 10 Years
Over the past decade, Fredericksburg city, Virginia has seen a notable increase in average state and local income taxes per tax return, jumping from around $6,819.60 in 2012 to approximately $13,490.30 in 2021. This upward trend, particularly sharp from 2017 onward, suggests a growing burden or rising income levels which could affect decisions on living and investing in the area. For real estate agents and developers, understanding these tax dynamics can help gauge market potential and advising clients competently, while appraisers and insurance agents might find this useful in calculating property values and insurance premiums, respectively.
Average Total Tax Liability Per Tax Return in Fredericksburg city, VA Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Fredericksburg city, Virginia has seen a steady rise, escalating from approximately $10,446.31 in 2012 to around $19,418.92 in 2021. Notably, the sharpest increase occurred between 2020 and 2021, indicating a substantial uptick in tax obligations. This trend may imply an increasingly affluent population or rising property values, making it relevant for investors, real estate agents, and property appraisers. For those considering moving to the area, the escalating tax liability could impact housing affordability and overall cost of living. Insurance agents might find this useful when assessing risk associated with high-value properties in the region.
Cost of Living in Fredericksburg city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,743 | $1,749 | $1,492 | $2,036 | $1,804 |
| 1 adult 4 children | $1,743 | $1,429 | $1,137 | $2,036 | $1,959 |
| 2 adults 3 children | $1,743 | $1,429 | $1,296 | $2,036 | $1,541 |
| 1 adult 3 children | $1,743 | $1,167 | $941 | $2,036 | $1,711 |
| 2 adults 2 children | $1,393 | $1,170 | $1,100 | $1,768 | $1,219 |
| 1 adult 2 children | $1,393 | $874 | $746 | $1,768 | $1,288 |
| 2 adults 1 child | $1,393 | $925 | $904 | $897 | $1,018 |
| 1 adult 1 child | $1,393 | $597 | $550 | $897 | $932 |
| 2 adults | $1,224 | $743 | $709 | $0 | $799 |
| 1 adult | $1,205 | $405 | $354 | $0 | $718 |
Safety trends & Data
Fredericksburg city, Virginia, has experienced fluctuating property crime trends over the last five years. Notably, larceny-theft cases peaked in 2018 and 2022 with 298 and 343 incidents, respectively, while dipping in 2020. Arson and burglary rates have generally stayed low, and motor vehicle theft has been inconsistent. The significant rise in fraud cases to 47 incidents in 2022 could influence property valuations and insurance premiums. Vandalism has remained relatively steady. These trends... Read more
Property Crime Trends in Fredericksburg city, VA Over the Last 5 Years
Fredericksburg city, Virginia, has seen varied trends in property crimes over the last five years. Larceny-theft remains the most frequent offense, peaking in 2018 and 2022 with 298 and 343 cases, respectively, while dipping significantly in 2020. Arson and burglary rates have generally remained low, and instances of motor vehicle theft have been sporadic. Fraud cases showed a noticeable increase in 2022, reaching 47 incidents. Vandalism had a steadier presence across the years, and embezzlement and forgery/counterfeiting rates fluctuated but showed no significant spikes. This data can be crucial for real estate agents, appraisers, and insurance agents in assessing property values and risk factors, making it a valuable insight for potential investors and residents alike.
Demographics
Fredericksburg, Virginia shows a higher female adult population compared to males. The educational attainment data reveals a strong presence of residents with college degrees, indicating a potentially educated workforce. Age-wise, the city skews younger, with significant portions of people in their twenties and thirties. The racial distribution highlights a predominantly White population, though there's notable diversity with significant African American and Asian communities. This demographic... Read more
Race Distribution in Fredericksburg city, Virginia (2022)
Educational Attainment in Fredericksburg city, Virginia (2022)
Age Distribution in Fredericksburg city, Virginia
Citizen Population in Fredericksburg city, Virginia (2022)
Political Trends & Data
Fredericksburg City in Virginia leaned significantly towards the Democratic party in the 2020 U.S. Presidential Election, with about 66% of the votes cast in their favor. Meanwhile, the Republican party secured around 31%, indicating a substantial gap between the two major parties. Libertarian and other parties saw only minor support, suggesting limited third-party influence in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Fredericksburg City in Virginia exhibited a notable preference for the Democratic party in the 2020 U.S. Presidential Election, with approximately 66% of the votes. The Republican party garnered around 31%, trailing significantly. Libertarian and other parties made up a small portion of the vote, suggesting that third-party influence was minimal in this locality.
31.35% of voters voted for the Republican party in the 2020 Presidential Election
66.14% of voters voted for the Democrat party in the 2020 Presidential Election
1.86% of voters voted for the Livertarian party in the 2020 Presidential Election
0.64% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Fredericksburg City, Virginia, the student-to-teacher ratio has ranged dramatically in the past decade, reaching nearly 25 students per teacher in 2014 and 2017, and dropping to around 15 recently. While still above the national average of 14, this trend suggests improving class sizes. For property investors and real estate agents, smaller ratios often signal a stronger education system and community investment, potentially boosting property values. This data might attract families focused... Read more
Student-to-teacher ratio in Fredericksburg City, Virginia over the last 10 years
The student-to-teacher ratio in Fredericksburg City, Virginia has seen considerable fluctuations over the past decade, peaking at nearly 25 students per teacher in 2014 and 2017, and dipping to its lowest at about 15 in recent years. While the average ratio remains above the national average of 14 students per teacher, the trend indicates a significant improvement towards more manageable class sizes. For prospective investors, smaller ratios often imply a stronger education system and community investment, which can enhance property values. Real estate agents and appraisers might highlight these improvements to attract families prioritizing educational opportunities. Insurance agents may see this as an indicator of a stable and responsible community, affecting risk assessments. Builders and developers could also find these educational trends reassuring when planning new projects, knowing there's a basis for potentially stronger demand in housing.
