Gloucester County Real Estate and Livability Trends
Gloucester County, Virginia’s economic landscape has evolved with average taxable income rising from $53,910.67 in 2013 to $73,533.19 in 2021, which may drive up real estate demand and property values. Over the same period, median home values jumped from $230,300 in 2020 to $274,500 in 2022, below Virginia's median but suggesting value. Favorable trends in burglary and larceny-theft rates could... Read more
Gloucester County Market Trends
Gloucester County, Virginia has seen a steady rise in median home values, jumping from $230,300 in 2020 to $274,500 in 2022, suggesting it offers value compared to broader state trends despite being below Virginia’s median of $339,800. The variability in the average residential energy tax credit, peaking at around $3271.43 in 2018, indicates a growing focus on energy-efficient home... Read more
Median Value of Occupied Housing Units in Gloucester County, Virginia Over the Last 8 Years
Gloucester County, Virginia has shown a solid upward trend in median home values over the last eight years, with a significant jump from $230,300 in 2020 to $274,500 in 2022. Compared to the national median, which rose from $149,600 in 2020 to $179,400 in 2022, Gloucester County's market appears relatively robust. However, it remains somewhat below the state median, which escalated from $282,800 in 2020 to $339,800 in 2022. This suggests potential investment opportunities for those looking to enter a market that is appreciating but still offers value relative to broader state trends.
Residential Energy Tax Credit Per Tax Return in Gloucester County, VA Over the Last 9 Years
Over the past nine years in Gloucester County, Virginia, the average residential energy tax credit per tax return has seen significant variability. Starting at approximately $490.20 in 2013, it peaked notably in 2018 at around $3271.43, indicating a possible surge in energy-efficient home improvements or installations. This trend offers key insights for potential investors, real estate agents, and home builders about increasing local interest in energy-efficient solutions, which could influence property values and market demand in the area.
Average Real Estate Taxes Per Tax Return in Gloucester County, VA Over the Last 10 Years
Over the past decade in Gloucester County, Virginia, average real estate taxes per tax return have seen a notable increase, starting from $2,113.81 in 2012 and reaching a peak of approximately $3,253.85 in 2020. The most significant jump occurred between 2017 and 2018, where taxes surged from $2,409.48 to $2,971.65. This upward trajectory may signal rising property values or changes in tax rates and could influence decisions for potential investors, homebuyers, and industry professionals looking to understand market dynamics and plan accordingly.
Percentage of Farm Returns in Gloucester County, VA Over the Last 10 Years
Over the past decade in Gloucester County, Virginia, farm tax returns have hovered around 0.5% of the total tax returns, peaking at approximately 0.60% in 2016 but showing a slight decline to about 0.45% by 2021. Farm tax returns represent the portion of tax filings from agricultural activities, indicating the economic footprint of farming within the county. This data can be crucial for those considering investments or property development, underscoring that while agricultural activity remains a small but steady part of the local economy, it may not be a growing sector. Prospective residents and investors might want to consider these trends when evaluating the agrarian investment landscape in the area.
Number of Mortgages by Occupancy Type in Gloucester County, VA Over the Last 5 Years in Gloucester County
The mortgage landscape in Gloucester County, Virginia, shows a robust preference for principal residences, with these mortgages consistently dominating over investment and second residences. For prospective investors or property builders, understanding that the market is highly driven by owner-occupied homes can influence decisions on the types of properties to develop, ensuring alignment with demand trends. Real estate agents and appraisers might find the relatively low numbers for investment properties and second residences indicative of less competitive but potentially lucrative opportunities for niche investments. Similarly, insurance agents could leverage this data to tailor their offerings predominantly towards primary homeowners, possibly considering more specialized insurance products for the less common property types. Monitoring these trends helps all stakeholders anticipate market movements and strategize accordingly.
Economic Outlook
Gloucester County, Virginia's average taxable income per tax return has climbed from $53,910.67 in 2013 to $73,533.19 in 2021, signaling a general increase in economic well-being that could potentially drive up real estate demand and property values. Concurrently, average state and local income taxes have risen from $4,482.07 in 2012 to $8,053.19 in 2021. The total tax liability also shows an upward trend, moving from $7,359.63 in 2012 to $10,093.35 in 2021. These financial metrics may... Read more
Average Taxable Income per Tax Return in Gloucester County, VA over the last 9 years
Over the past nine years, the average taxable income per tax return in Gloucester County, Virginia has shown a notable upward trend. From $53,910.67 in 2013 to $73,533.19 in 2021, these figures suggest a steady increase in economic well-being, potentially signaling opportunities for investment and development. This gradual rise in taxable income may also influence real estate demand, property values, insurance premiums, and appraisals, making it an essential indicator for stakeholders like investors, real estate agents, developers, and residents.
Average State and Local Income Taxes Per Tax Return in Gloucester County, VA Over the Last 10 Years
Over the past decade, Gloucester County, Virginia has experienced fluctuating average state and local income taxes per tax return, with a noticeable upward trend. Values started at $4,482.07 in 2012 and saw a steady increase, peaking at $8,053.19 in 2021. This trend suggests rising tax liabilities which could impact cost of living and disposable income considerations for potential residents and investors. Real estate and insurance professionals, along with potential homeowners, might find these shifts relevant when assessing financial planning and market dynamics in the county.
Average Total Tax Liability Per Tax Return in Gloucester County, VA Over the Last 10 Years
In Gloucester County, Virginia, the average total tax liability per tax return over the past decade shows a notable upward trajectory, starting at approximately $7,359.63 in 2012 and reaching around $10,093.35 by 2021. This increase indicates a growing economic base which could be attractive to potential investors or property developers. Such a trend may also impact property valuations, making it key for real estate agents and appraisers to stay aware of these changes. Similarly, this financial growth trend is relevant to insurance agents assessing risk and coverage needs in the area.
Cost of Living in Gloucester County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,522 | $1,440 | $1,579 | $1,725 | $1,585 |
| 1 adult 4 children | $1,522 | $1,176 | $1,205 | $1,725 | $1,731 |
| 2 adults 3 children | $1,522 | $1,176 | $1,372 | $1,725 | $1,327 |
| 1 adult 3 children | $1,522 | $960 | $997 | $1,725 | $1,503 |
| 2 adults 2 children | $1,089 | $963 | $1,164 | $1,512 | $1,037 |
| 1 adult 2 children | $1,089 | $719 | $790 | $1,512 | $1,093 |
| 2 adults 1 child | $1,089 | $761 | $956 | $820 | $930 |
| 1 adult 1 child | $1,089 | $492 | $582 | $820 | $838 |
| 2 adults | $932 | $611 | $749 | $0 | $736 |
| 1 adult | $914 | $333 | $374 | $0 | $650 |
Safety trends & Data
Gloucester County, Virginia has seen larceny-theft decrease from 90.0 incidents in 2020 to 63.0 in 2022, while burglary dropped from 9.0 in 2019 to 3.0 in 2022. Fraud cases spiked to 22.0 in 2019, but have mostly stayed in the teens, and vandalism incidents fell from 15.0 in 2019 to 10.0 in 2022. Motor vehicle thefts were lowest in 2020, with just 2.0 reported cases. These shifts in property crime can offer key insights for investors, developers, and residents weighing their options in the... Read more
Property Crime Trends in Gloucester County, VA Over the Last 5 Years
Gloucester County, Virginia has seen varying trends in property crime over the past five years, with Larceny-Theft consistently leading the numbers, though it shows a slight downward trend from a high of 90.0 in 2020 to 63.0 in 2022. Burglary incidents have fluctuated mildly, peaking at 9.0 in 2019 and dropping to 3.0 in 2022. Fraud cases saw an increase in 2019 with 22.0 reported incidents, but they have largely remained in the teens since then. Vandalism incidents have also varied, hitting a high of 15.0 in 2019, though they decreased to 10.0 in 2022. Notably, Motor Vehicle Theft hit its lowest rate in 2020, with only 2.0 incidents. These trends are essential for potential investors, real estate developers, and residents who need to understand the local crime dynamics when making decisions.
Demographics
The adult population in Gloucester County, Virginia, seems relatively balanced with a slight female majority. Educational attainment data suggests a large portion of the population holds at least a high school diploma, though fewer hold higher education degrees. Age distribution indicates a larger number of middle-aged and older adults, potentially reflecting long-term settlement trends. The demographic makeup is predominantly White, with small percentages of Black or African American, Asian,... Read more
Race Distribution in Gloucester County, Virginia (2022)
Educational Attainment in Gloucester County, Virginia (2022)
Age Distribution in Gloucester County, Virginia
Citizen Population in Gloucester County, Virginia (2022)
Political Trends & Data
Gloucester County, Virginia leans heavily towards the Republican Party, with about 67% of the 2020 U.S. Presidential Election vote, compared to roughly 31% for the Democrats. This strong conservative preference could influence local policies and economic development trends, potentially impacting the real estate market by attracting buyers and businesses that align with these political views. However, the significant Democratic presence suggests a diverse community that may appeal to a broader... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Gloucester County, Virginia's 2020 U.S. Presidential Election results suggest a strong leaning towards the Republican Party, capturing approximately 67% of the vote. Democratic supporters constituted about 31%, reflecting a substantial but less dominant presence. Libertarians and other minor parties garnered minimal support, collectively accounting for nearly 2% of the vote. These figures could indicate a political landscape in Gloucester County that is predominantly conservative, while still maintaining a notable segment of Democratic voters.
66.75% of voters voted for the Republican party in the 2020 Presidential Election
31.25% of voters voted for the Democrat party in the 2020 Presidential Election
1.75% of voters voted for the Livertarian party in the 2020 Presidential Election
0.25% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Gloucester County, Virginia, the student-to-teacher ratio has varied over the past decade, from 16 students per teacher in 2014 to a low of 11 in 2021, before settling around 13 in 2023. This could imply fluctuations in educational resources and conditions. With Gloucester County consistently maintaining smaller class sizes than the national average of 14 students per teacher, the perception of more personalized education can enhance the area’s appeal to families prioritizing quality... Read more
Student-to-teacher ratio in Gloucester County, Virginia over the last 10 years
Over the past decade, Gloucester County, Virginia has experienced a notable fluctuation in its student-to-teacher ratio. Starting at a high of 16 students per teacher in 2014, the ratio gradually decreased, hitting a low of 11 in 2021 before increasing to around 13 students per teacher in the latest year, 2023. This variation is significant compared to the current national average of 14 students per teacher, suggesting that class sizes in Gloucester County have generally been smaller than the national average. For potential investors, residents, real estate agents, and others interested in the area, these trends could imply fluctuating educational conditions and resource investments, potentially influencing the desirability and appraisal of properties based on perceptions of school quality. Smaller class sizes might be seen as an indicator of more personalized education, which could make the county more attractive to families prioritizing education.
