Hampton city Real Estate and Livability Trends
Hampton City, Virginia, has seen average taxable income rise from about $45,081.19 in 2013 to $55,602.04 by 2021, suggesting a potentially improving economy. Median home values hit a high of $219,800 in 2022, making Hampton appealing for budget-conscious buyers compared to the state's median of $339,800. Property crime is notably decreasing, especially in burglary and larceny-theft, enhancing... Read more
Hampton city Market Trends
Median home values in Hampton city, Virginia witnessed moderate fluctuations over the past eight years, peaking at $219,800 in 2022, well below the state's median of $339,800. This lower price point could attract budget-conscious buyers, especially as the real estate market shows signs of rising demand. Residential energy tax credits in Hampton have greatly increased, peaking at about $1,884.17... Read more
Median Value of Occupied Housing Units in Hampton city, Virginia Over the Last 8 Years
Median home values in Hampton city, Virginia, showed moderate fluctuations over the past eight years, culminating in a sharp rise to $219,800 in 2022. This contrasts with Virginia's overall median, which reached $339,800 the same year, and the national median of $179,400. Hampton's relatively lower median values might appeal to budget-conscious buyers seeking a more cost-effective entry into Virginia's real estate market while still enjoying the state's economic stability. The recent uptick in values suggests increasing demand, possibly signaling good future appreciation for current investors.
Residential Energy Tax Credit Per Tax Return in Hampton city, VA Over the Last 9 Years
Residential energy tax credits have seen significant growth in Hampton city, Virginia, over the past nine years. Starting at around $283.72 in 2013, the average credit per tax return climbed steadily, experiencing a considerable spike in 2018 at approximately $1,533.33. By 2021, it peaked at about $1,884.17. This upward trend could suggest increasing investment in energy-efficient home improvements and growing awareness of available tax incentives. For those considering real estate investments, appraisals, or building in Hampton city, these figures indicate a strong local commitment to energy efficiency, which might influence property values and insurance considerations.
Average Real Estate Taxes Per Tax Return in Hampton city, VA Over the Last 10 Years
Over the last decade, real estate taxes per tax return in Hampton city, Virginia have shown a noticeable upward trend, starting from approximately $2,493.52 in 2012 to about $3,471.49 in 2021. This steady increase, particularly the sharp rise post-2017, could hint at a growing market that appeals to investors and could impact property valuations, insurance premiums, and tax assessments. Higher real estate taxes might correlate with property value appreciation, suggesting a potentially prosperous area for real estate investments, while also indicating that current and prospective homeowners should budget for these escalating expenses.
Percentage of Farm Returns in Hampton city, VA Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Hampton city, Virginia, has generally hovered around the 0.06% mark, peaking slightly at 0.06% in 2016 before falling to around 0.05% by 2021. Farm tax returns, representing the fraction of tax filings from agricultural activities, remain a tiny fraction of the overall economic activity in the area. This could imply limited agricultural investment opportunities or a predominance of urban development, making it a valuable consideration for anyone looking to invest in, move to, or develop property in Hampton city.
Number of Mortgages by Occupancy Type in Hampton city, VA Over the Last 5 Years in Hampton city
Over the past five years in Hampton City, Virginia, the number of mortgages for principal residences has seen a significant upward trend, peaking sharply in 2021 before tapering off slightly. Investment properties followed a more modest increase with the highest activity also in 2021, but they showed a notable decline thereafter. Second residence mortgages remained relatively stable with minimal fluctuations. These shifts in occupancy type could reflect changing buyer priorities and economic conditions, essential insights for investors, real estate agents, and developers aiming to capitalize on housing demand patterns. Shifts in mortgage types also signal potential changes in neighborhood dynamics, influencing property valuations, rental markets, and insurance risks, making it crucial for stakeholders to stay attuned to these trends.
Economic Outlook
In Hampton city, Virginia, average taxable income per tax return has trended upwards from around $45,081.19 in 2013 to approximately $55,602.04 by 2021, possibly signaling a healthier economic environment. State and local income taxes have also risen, increasing from about $3,782.96 per return in 2012 to roughly $5,543.19 by 2021, which could imply a growing tax burden. Total tax liabilities per tax return have similarly seen an upward trend, climbing from $5,757.63 in 2012 to $7,003.97 in... Read more
Average Taxable Income per Tax Return in Hampton city, VA over the last 9 years
Over the past nine years, the average taxable income per tax return in Hampton city, Virginia has shown a consistent upward trend, reflecting gradual economic improvement. Starting at approximately $45,081.19 in 2013, it has grown to around $55,602.04 by 2021. This increase might be a positive indicator for potential investors and real estate developers, suggesting a steadily increasing income base. For those in the insurance and appraisal sectors, the rising incomes could imply a growing market with higher disposable incomes.
Average State and Local Income Taxes Per Tax Return in Hampton city, VA Over the Last 10 Years
Over the last decade, Hampton city, Virginia has seen a notable upward trend in average state and local income taxes per tax return. Starting from approximately $3,782.96 in 2012, the figure has climbed steadily to roughly $5,543.19 by 2021. A significant jump occurred between 2017 and 2018, where taxes per return increased from about $4,133.84 to $4,839.29. This trend may imply a growing tax burden in Hampton city, which is a crucial consideration for potential investors, appraisers, real estate agents, and those planning to move to or build property in the area.
Average Total Tax Liability Per Tax Return in Hampton city, VA Over the Last 10 Years
The average total tax liability per tax return in Hampton city, Virginia shows a general upward trend over the past decade. From 2012 to 2021, there have been fluctuations, but overall, tax liability has increased from $5,757.63 to $7,003.97. Notably, the largest jump occurred between 2020 and 2021, with a substantial rise of about $806.60. This trend could indicate a growing economic base or changes in tax policy affecting residents. For potential investors, homeowners, and real estate professionals, understanding these shifts can be crucial for making informed decisions as they may impact property valuations and overall cost of living.
Cost of Living in Hampton city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,726 | $1,464 | $1,664 | $1,547 | $1,548 |
| 1 adult 4 children | $1,726 | $1,195 | $1,270 | $1,547 | $1,676 |
| 2 adults 3 children | $1,726 | $1,196 | $1,445 | $1,547 | $1,291 |
| 1 adult 3 children | $1,726 | $976 | $1,051 | $1,547 | $1,445 |
| 2 adults 2 children | $1,235 | $979 | $1,225 | $1,358 | $995 |
| 1 adult 2 children | $1,235 | $731 | $832 | $1,358 | $1,018 |
| 2 adults 1 child | $1,235 | $774 | $1,006 | $743 | $908 |
| 1 adult 1 child | $1,235 | $500 | $613 | $743 | $810 |
| 2 adults | $1,057 | $622 | $787 | $0 | $729 |
| 1 adult | $1,037 | $339 | $394 | $0 | $644 |
Safety trends & Data
Property crime in Hampton City, Virginia, appears to be decreasing, particularly in burglary and larceny-theft, which have seen significant drops from 100 and 398 incidents in 2018, to 25 and 183 in 2021. However, fraud has shown some variability, peaking at 109 cases in 2022, which could indicate emerging risks. This trend might suggest that improved preventative measures or shifting socioeconomic factors are making Hampton City a more attractive place for investors and residents... Read more
Property Crime Trends in Hampton city, VA Over the Last 5 Years
Property crime in Hampton City, Virginia shows a noticeable trend towards a decrease in total incidents over the past five years. Highs in burglary and larceny-theft in 2018, with 100 and 398 incidents respectively, have steadily fallen, reaching their lowest in 2021 for burglary (25) and a significant reduction for larceny-theft to 183. Interestingly, fraud has seen fluctuations, peaking at 109 cases in 2022, signaling a potential area of concern. The overall decline in property crime may be indicative of stronger preventative measures or changes in socioeconomic factors, making Hampton City an increasingly appealing option for investors, residents, and professionals in related fields.
Demographics
In Hampton city, Virginia, the male-to-female ratio shows a somewhat close parity, though females slightly outnumber males. The educational attainment landscape reveals a significant portion of the adult population peaking at the high school graduate level, with a notable number of residents having some college experience but no degree. Younger age groups (under 35) form a sizable chunk of the city's demographic, indicating a fairly youthful population. When looking at racial composition, Black... Read more
Race Distribution in Hampton city, Virginia (2022)
Educational Attainment in Hampton city, Virginia (2022)
Age Distribution in Hampton city, Virginia
Citizen Population in Hampton city, Virginia (2022)
Political Trends & Data
Hampton City in Virginia might lean heavily towards the Democratic Party, with about 70% of the vote potentially going that way in the 2020 U.S. Presidential Election. Republicans attracted around 28%, and third parties collectively got about 2%. This possibly indicates a robust Democratic presence or preference in this urban part of... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hampton City in Virginia showed a significant leaning towards the Democratic Party in the 2020 U.S. Presidential Election, with approximately 70% of the vote potentially going to that party. Republicans garnered around 28%, while third parties, including the Libertarian and other minor parties, captured a combined total of roughly 2%. This trend could suggest a strong Democratic presence or preference within this urban locality of Virginia.
27.94% of voters voted for the Republican party in the 2020 Presidential Election
70.08% of voters voted for the Democrat party in the 2020 Presidential Election
1.53% of voters voted for the Livertarian party in the 2020 Presidential Election
0.46% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Hampton City, Virginia, the student-to-teacher ratio has shown significant fluctuations over the past decade, peaking around sixteen in 2017 and 2018 before settling back to fourteen in 2023. These changes may affect decisions related to educational infrastructure and influence families prioritizing schooling, thereby impacting property values and neighborhood desirability. Investors and real estate agents should monitor these ratios as they can indicate potential shifts in community... Read more
Student-to-teacher ratio in Hampton City, Virginia over the last 10 years
Over the past decade, the student-to-teacher ratio in Hampton City, Virginia, has fluctuated noticeably. While the ratio began around the national average of fourteen in 2014 and hovered near it for several years, there were spikes in 2017 and 2018, with the ratio climbing to nearly sixteen. More recent years have seen a reduction, with the 2023 ratio coming back down to around fourteen students per teacher. These changes might influence decisions for those investing in educational infrastructure or considering relocating for schooling, as a higher student-to-teacher ratio could suggest larger class sizes and potentially strained resources. Such fluctuations are important for appraisers and real estate agents to consider, as they can impact property values and the attractiveness of neighborhoods for families prioritizing education.
