Harrisonburg city Market Trends
Median home values in Harrisonburg, Virginia have jumped from $199,400 in 2015 to $263,700 in 2022, indicating robust growth compared to national trends but slightly below Virginia's state-wide surge. Harrisonburg's residential energy tax credits showed a notable peak at $3,480.00 in 2018, though they tapered off in subsequent years but remained higher than early years, hinting at ongoing... Read more
Median Value of Occupied Housing Units in Harrisonburg city, Virginia Over the Last 8 Years
Median home values in Harrisonburg, Virginia have shown a significant increase over the past eight years, with a marked jump from $199,400 in 2015 to $263,700 in 2022. While this growth is robust compared to the national trend, which saw values rise from $125,500 to $179,400 in the same period, it still falls below Virginia's state-wide growth, where median values increased from $245,000 to $339,800. This might suggest Harrisonburg is an emerging market offering potentially more affordable investment opportunities relative to state-wide averages, while still providing significant appreciation over time.
Residential Energy Tax Credit Per Tax Return in Harrisonburg city, VA Over the Last 9 Years
Harrisonburg, Virginia has witnessed fluctuating yet noteworthy trends in residential energy tax credits per tax return over the last nine years. The most significant spike occurred in 2018, with an average credit of $3,480.00, likely due to major investments in energy-efficient technologies or systems. While there was a notable drop in 2019 to $1,792.86, the figures have been relatively higher compared to early years, suggesting sustained interest in energy-saving measures. These trends are crucial for investors and property developers considering the area's potential for cost-saving benefits from energy-efficient improvements. Additionally, real estate agents could leverage this data to highlight potential tax savings to prospective homeowners.
Average Real Estate Taxes Per Tax Return in Harrisonburg city, VA Over the Last 10 Years
Over the past decade in Harrisonburg City, Virginia, average real estate taxes per tax return have generally trended upwards. Starting at roughly $1,757.19 in 2012, there was a noticeable jump to about $2,108.06 by 2016 and a more dramatic increase to around $3,152.38 in 2020. Although there was a slight dip to approximately $3,101.32 in 2021, the general trajectory indicates rising property tax costs. This trend may be significant for potential investors, real estate agents, and current homeowners as it could reflect changes in property values and municipal budget needs over time. Understanding this tax landscape is crucial for financial planning, property appraisal, and assessing overall market conditions.
Percentage of Farm Returns in Harrisonburg city, VA Over the Last 10 Years
In Harrisonburg city, Virginia, the percentage of farm tax returns over the past decade has shown a fluctuating trend, peaking at around 0.34% in 2014 and dipping to roughly 0.21% by 2018, with recent figures close to 0.21% in 2021. These returns are essentially filings that indicate agricultural activity, reflecting the city's engagement in farming. For potential investors or prospective residents, this trend may suggest a relatively stable but modest agricultural presence, which could impact land use decisions and local market dynamics.
Number of Mortgages by Occupancy Type in Harrisonburg city, VA Over the Last 5 Years in Harrisonburg city
Harrisonburg, Virginia has seen fluctuation in mortgage counts over the past five years, with principal residences consistently dominating the market. Investment property mortgages peaked in 2021 at 317, while second residences have consistently trailed far behind. Tracking these trends is crucial for potential investors, real estate agents, and anyone considering moving to or building in Harrisonburg, as they can signal shifts in demand and market stability. Identifying the prevalent types of occupancy can lead to smarter financial decisions and better market predictions for all stakeholders involved.
Economic Outlook
Harrisonburg, Virginia has witnessed a significant rise in average taxable income per tax return, moving from around $42,605.67 in 2013 to about $58,835.48 by 2021. This upward trend might reflect a growing economy and increased purchasing power, essential for property values and rental expectations. The area has also seen a considerable increase in state and local income taxes, from $4,030.58 in 2012 to $9,165.88 in 2021, indicating a rising cost of living and growing contributions from... Read more
Average Taxable Income per Tax Return in Harrisonburg city, VA over the last 9 years
Harrisonburg, Virginia has seen a steady rise in the average taxable income per tax return over the last nine years, starting at approximately $42,605.67 in 2013 and climbing to around $58,835.48 in 2021. The noticeable jump post-2020 suggests a potential economic boost or significant income increases in the area, making it an intriguing spot for investors and real estate professionals. This income trend could imply a growing economy and increased purchasing power among residents, which is important for property values, rental expectations, and insurance premiums.
Average State and Local Income Taxes Per Tax Return in Harrisonburg city, VA Over the Last 10 Years
Over the last decade, state and local income taxes per tax return in Harrisonburg city, Virginia have shown a notable upward trend. Starting at $4,030.58 in 2012, these taxes have gradually increased, spiking significantly to $6,888.07 in 2018 and eventually reaching $9,165.88 by 2021. This upward trajectory suggests a rising cost of living and growing fiscal contributions from residents, which might impact decisions for potential investors, property developers, and newcomers considering relocation. Such trends could also influence real estate appraisals, insurance premiums, and overall economic planning for the region.
Average Total Tax Liability Per Tax Return in Harrisonburg city, VA Over the Last 10 Years
Over the past decade, Harrisonburg city, Virginia has seen a somewhat fluctuating but generally upward trend in average total tax liability per tax return, peaking notably at $8283.68 in 2021. This trend could signal a growing local economy or increased property values, which might be of particular interest to potential investors, real estate agents, and those considering a move to the area. A notable drop occurred in 2018, where the average liability fell to $6423.94, potentially indicating economic variability that stakeholders should consider.
Cost of Living in Harrisonburg city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,355 | $1,528 | $1,718 | $1,455 | $1,333 |
| 1 adult 4 children | $1,355 | $1,248 | $1,312 | $1,455 | $1,459 |
| 2 adults 3 children | $1,355 | $1,248 | $1,491 | $1,455 | $1,101 |
| 1 adult 3 children | $1,355 | $1,019 | $1,085 | $1,455 | $1,214 |
| 2 adults 2 children | $1,019 | $1,022 | $1,265 | $1,281 | $910 |
| 1 adult 2 children | $1,019 | $763 | $859 | $1,281 | $892 |
| 2 adults 1 child | $1,019 | $808 | $1,038 | $717 | $835 |
| 1 adult 1 child | $1,019 | $522 | $632 | $717 | $719 |
| 2 adults | $774 | $649 | $812 | $0 | $626 |
| 1 adult | $769 | $354 | $406 | $0 | $563 |
Safety trends & Data
Harrisonburg city in Virginia has seen fluctuations in property crime rates over the past five years. Larceny - Theft peaked at 208 incidents in 2019 but dropped to 99 by 2022. Burglary incidents have gradually declined from 20 in 2018 to just 9 in 2022, likely indicating improved security measures. Fraud cases have remained relatively high, slightly increasing to 71 in 2021. Additionally, Vandalism and Motor Vehicle Theft saw slight increases in 2022. These trends could influence property... Read more
Property Crime Trends in Harrisonburg city, VA Over the Last 5 Years
Over the past five years, Harrisonburg city in Virginia has seen some fluctuations in property crime rates. Larceny - Theft remains the most frequent type of property crime, peaking at 208 incidents in 2019 and notably dropping to 99 by 2022. Burglary incidents have seen a gradual decline, from 20 in 2018 to just 9 in 2022, indicating possibly improved security measures or other deterrents. Meanwhile, cases of Fraud have remained relatively high and even increased slightly to 71 in 2021. Vandalism and Motor Vehicle Theft show slight increases in 2022. For potential investors, homeowners, and stakeholders, these trends might influence decisions on property purchases, security investments, and insurance premiums in the region.
Demographics
Harrisonburg, Virginia, shows a slightly higher female adult population, demonstrating a common trend in many urban areas. Educational attainment varies, with around one-third holding at least a bachelor's degree, pointing to a relatively educated population but also highlighting the opportunity for higher education initiatives. Age distribution peaks among the 20–24 and 15–19 demographics, likely influenced by the presence of universities, which can shape local economic and cultural... Read more
Race Distribution in Harrisonburg city, Virginia (2022)
Educational Attainment in Harrisonburg city, Virginia (2022)
Age Distribution in Harrisonburg city, Virginia
Citizen Population in Harrisonburg city, Virginia (2022)
Political Trends & Data
Harrisonburg City, Virginia's political landscape appears to favor Democratic candidates, with roughly 64.5% of the 2020 U.S. Presidential Election vote going their way. Republicans captured around 32.7%, and other parties took only a minimal share. This Democratic leaning could potentially influence community policies and initiatives, potentially making the area more appealing to likewise-minded homebuyers and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Harrisonburg City, Virginia, the 2020 U.S. Presidential Election data suggests a stronger leaning towards Democratic candidates, who secured roughly 64.5% of the vote. Republicans garnered approximately 32.7%, while Libertarians and other parties collectively received a minimal share. This distribution could indicate a predominantly liberal-leaning electorate in the area.
32.71% of voters voted for the Republican party in the 2020 Presidential Election
64.48% of voters voted for the Democrat party in the 2020 Presidential Election
2.13% of voters voted for the Livertarian party in the 2020 Presidential Election
0.68% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Harrisonburg City, Virginia, the student-to-teacher ratio has hovered around the national average of 14 students per teacher over the last decade. Notable spikes to 15 in 2016 and nearly 16 in 2022 might reflect temporary increases in student enrollment or staff reductions. For real estate agents, appraisers, and potential residents, these fluctuations could impact perceptions of educational quality and inform decisions regarding housing investments and resource allocations. Lower ratios... Read more
Student-to-teacher ratio in Harrisonburg City, Virginia over the last 10 years
Over the last decade in Harrisonburg City, Virginia, the student-to-teacher ratio has generally fluctuated but appears to closely align with the national average of 14 students per teacher. In 2016 and 2022, the ratio spiked notably to 15 and nearly 16 students per teacher, respectively, potentially indicating temporary surges in student enrollment or reductions in staff. For stakeholders like real estate agents, appraisers, and those considering relocation, understanding these fluctuations can offer insights into educational investments and resource allocation in the area. Lower ratios typically suggest more individual attention for students, which could be a selling point for families moving to the area. Conversely, higher ratios may necessitate additional hiring or infrastructure improvements, influencing future development and educational quality.
