Halifax County Real Estate and Livability Trends
Halifax County, Virginia has witnessed a steady increase in average taxable income from $42,154.91 in 2013 to $53,152.45 in 2021, a signal of potential economic growth. Median home values have climbed 27% from $104,700 in 2015 to $133,200 in 2022, still below state and national medians, which might tempt investors seeking lower-cost opportunities. Real estate taxes nearly doubled over the last... Read more
Halifax County Market Trends
Homes in Halifax County, Virginia have experienced a 27% rise in median value over the past eight years, from $104,700 in 2015 to $133,200 in 2022, still trailing state and national medians. This anomaly could present appealing investment opportunities due to the relatively lower prices. The county has also seen considerable fluctuations in residential energy tax credits, peaking in 2018,... Read more
Median Value of Occupied Housing Units in Halifax County, Virginia Over the Last 8 Years
Over the past eight years, homes in Halifax County, Virginia have seen their median value rise from $104,700 in 2015 to $133,200 in 2022. This 27% increase, while significant, still places Halifax County well below state and national medians. For context, Virginia's median home value jumped from $245,000 to $339,800, and the national median grew from $125,500 to $179,400 within the same period. This gap presents a potential opportunity for those considering investing in Halifax County, as the relatively lower prices could offer more affordable entry points into the housing market.
Residential Energy Tax Credit Per Tax Return in Halifax County, VA Over the Last 9 Years
Residential energy tax credits in Halifax County, Virginia have shown considerable fluctuations over the past nine years, with a notable spike in 2018 reaching an average of $2,433.33 per tax return. This could potentially signal increased investments in energy-efficient home improvements during that year. Since then, the credit has stabilized but remained relatively high compared to earlier years, with the 2021 average at $868.00. For investors, builders, appraisers, and real estate agents, these trends might suggest a growing local interest in sustainable living, which could influence property values and demand for energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Halifax County, VA Over the Last 10 Years
The average real estate taxes per tax return in Halifax County, Virginia have generally trended upward over the last decade, starting at approximately $1,220.00 in 2012 and rising to around $2,036.17 by 2021. This near-doubling suggests a potentially significant increase in property values or changes in tax rates. Sharp increases in certain years, such as from 2017 to 2018 and 2019 to 2020, might indicate reevaluation periods or increased public spending financed by property taxes. Prospective investors, homeowners, and real estate professionals might find this trend concerning or indicative of growing investment in community infrastructure and services.
Percentage of Farm Returns in Halifax County, VA Over the Last 10 Years
The percentage of farm tax returns in Halifax County, Virginia has fluctuated over the last decade, starting at roughly 4.82% in 2012 and seeing a general downward trend to around 4.29% in 2021. Farm tax returns, which businesses must file for agricultural-related income, indicate how much of the local economy is derived from farming activities. This slight decrease might suggest changing economic dynamics or evolving land use in the area, which could be crucial for those considering investing, moving to, or developing property in Halifax County.
Number of Mortgages by Occupancy Type in Halifax County, VA Over the Last 5 Years in Halifax County
Over the last five years, Halifax County, Virginia has seen a consistent dominance of principal residence mortgages, peaking in 2021 with 1,239 counts. Investment properties and second residences remain relatively stable but significantly lower in volume, with investment properties ranging from 41 to 58 mortgages annually. Variations in these occupancy types offer insights into the county's real estate market dynamics; a steady or increasing number of principal residences can signal population growth and community stability, appealing to investors and developers. For insurance agents and appraisers, understanding the mix and health of property types aids in assessing risk accurately and setting premiums or valuations that reflect local demand and economic conditions.
Economic Outlook
Halifax County, Virginia has experienced a steady increase in average taxable income per tax return from $42,154.91 in 2013 to $53,152.45 in 2021, potentially signaling economic growth and more opportunities. Concurrently, average state and local income taxes have risen, peaking at $7,118.75 in 2019, hinting at higher incomes or tax policy changes. These trends may indicate a strengthening real estate market and shifting property values, worthy of attention for investors and professionals... Read more
Average Taxable Income per Tax Return in Halifax County, VA over the last 9 years
Over the last nine years, Halifax County, Virginia has seen a generally upward trend in average taxable income per tax return. Starting at $42,154.91 in 2013, the average has steadily increased, reaching $53,152.45 in 2021. This notable rise could suggest economic growth and potentially increased opportunities for residents and businesses. For investors, real estate agents, and those looking to relocate, this trend might indicate a strengthening market. However, appraisers and insurance agents might view these figures as a signal of changing property values and demographics that warrant close attention.
Average State and Local Income Taxes Per Tax Return in Halifax County, VA Over the Last 10 Years
Over the past decade, Halifax County, Virginia has seen a rising trend in average state and local income taxes per tax return, peaking at approximately $7,118.75 in 2019. This steady growth from around $4,157.09 in 2012 to nearly $6,934.62 in 2021 suggests a significant increase in tax liabilities, which could be indicative of rising incomes or changes in tax policies. For potential investors, real estate agents, and residents, this trend may highlight an evolving economic landscape in the county, affecting property investments, insurance evaluations, and overall cost of living.
Average Total Tax Liability Per Tax Return in Halifax County, VA Over the Last 10 Years
Halifax County, Virginia has seen fluctuations in the average total tax liability per tax return over the last decade, starting at $5,341.72 in 2012 and peaking at $6,855.45 in 2021. Throughout these years, there have been periods of both increases and slight decreases, with notable spikes in 2016 and 2021. This pattern may point to underlying economic factors impacting residents, making it an interesting case for those investing or moving here, as well as for real estate agents, appraisers, and insurance professionals assessing local economic conditions.
Cost of Living in Halifax County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,037 | $1,347 | $1,681 | $938 | $995 |
| 1 adult 4 children | $1,037 | $1,100 | $1,284 | $938 | $1,095 |
| 2 adults 3 children | $1,037 | $1,101 | $1,459 | $938 | $819 |
| 1 adult 3 children | $1,037 | $898 | $1,062 | $938 | $837 |
| 2 adults 2 children | $793 | $901 | $1,237 | $820 | $699 |
| 1 adult 2 children | $793 | $673 | $840 | $820 | $636 |
| 2 adults 1 child | $793 | $712 | $1,015 | $436 | $681 |
| 1 adult 1 child | $793 | $460 | $618 | $436 | $593 |
| 2 adults | $637 | $572 | $793 | $0 | $598 |
| 1 adult | $588 | $312 | $396 | $0 | $527 |
Safety trends & Data
Halifax County, Virginia's property crime trends over five years reveal a notable decline in larceny-theft from a peak of 147 incidents in 2019 to 59 in 2022, which might be encouraging for potential investors and residents. Vandalism incidents also dipped, from 29 in 2020 to 11 in 2022. However, fraud cases saw a concerning rise from 15 in 2018 to 28 in 2022. This mixed picture suggests while some crime types are decreasing, other areas may need increased scrutiny and better security, offering... Read more
Property Crime Trends in Halifax County, VA Over the Last 5 Years
Over the past five years, Halifax County, Virginia has experienced some fluctuations in property crimes. Larceny-theft consistently remains the highest category with a peak in 2019 at 147 incidents and a decline to 59 incidents in 2022, showing a notable decrease which might be encouraging for potential investors and residents. Vandalism has also shown variability, hitting a high in 2020 with 29 incidents and decreasing to 11 in 2022. Fraud cases saw a concerning rise from 15 in 2018 to 28 in 2022. For those looking to move, invest, or work in real estate and insurance, these trends could suggest that while some crime categories are declining, other areas may need closer scrutiny and possibly enhanced security measures.
Demographics
Halifax County, Virginia demonstrates a relatively balanced gender distribution among adults, with a slight majority of females. The county shows varied levels of educational attainment, skewing towards high school graduates and those with some college education but no degree. In terms of age, there's a noticeable concentration in the mid-life age groups, particularly from 25 to 64 years. Racially, the population is predominantly White, with a significant portion identifying as Black or African... Read more
Race Distribution in Halifax County, Virginia (2022)
Educational Attainment in Halifax County, Virginia (2022)
Age Distribution in Halifax County, Virginia
Citizen Population in Halifax County, Virginia (2022)
Political Trends & Data
Halifax County, Virginia, exhibited a strong Republican preference in the 2020 U.S. Presidential Election, with an estimated 57% of the vote leaning red. Democrats garnered around 42%, indicating a significant but smaller presence. The minimal impact of third-party candidates suggests a community that tends to stick with the two major political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Halifax County, Virginia leaned heavily Republican in the 2020 U.S. Presidential Election, with the party potentially securing 57% of the vote. Democrats trailed with around 42%, while minor party presence was almost negligible. This suggests a community with strong conservative tendencies and limited support for third-party candidates.
57.09% of voters voted for the Republican party in the 2020 Presidential Election
42.01% of voters voted for the Democrat party in the 2020 Presidential Election
0.77% of voters voted for the Livertarian party in the 2020 Presidential Election
0.13% of voters voted for the Other party in the 2020 Presidential Election
School Data
Halifax County, Virginia, has consistently maintained a student-to-teacher ratio between 10 and 12 students per teacher over the past decade, compared to the national average of 14. This trend is notable for families seeking personalized education, potentially making the area more attractive for homebuyers. Real estate agents, investors, and builders might see this as a selling point, while insurance agents and appraisers could consider it in their property valuations, highlighting the added... Read more
Student-to-teacher ratio in Halifax County, Virginia over the last 10 years
Over the past decade, Halifax County, Virginia, has seen a student-to-teacher ratio consistently below the national average of 14 students per teacher. Ranging from 10 to 12 students per teacher, this lower ratio suggests smaller class sizes, which could be appealing to families prioritizing personalized education for their children. For real estate agents and potential investors, this trend might indicate a selling point for properties in the area. Lower student-to-teacher ratios tend to enhance the teaching environment, potentially increasing the attractiveness of the local school district for prospective residents. Moreover, insurance agents and appraisers could find this a relevant factor in valuating homes, while builders might see it as a cue to consider educational amenities when planning new developments.
