Henry County Real Estate and Livability Trends
Henry County, Virginia has seen an interesting real estate market shift with median home values climbing from $97,400 in 2020 to $111,800 in 2022, though still lagging behind state and national averages. A higher average residential energy tax credit claimed, especially noticeable at $1,171.43 in 2018, points to a growing trend in energy-efficient renovations. The rise in real estate taxes to... Read more
Henry County Market Trends
Henry County, Virginia's real estate market has seen a notable surge in median home values from $97,400 in 2020 to $111,800 in 2022, albeit still significantly trailing behind the state and national averages. The increased average residential energy tax credit claimed, peaking at $1,171.43 in 2018, suggests a growing interest in energy-efficient home improvements. Meanwhile, a consistent rise in... Read more
Median Value of Occupied Housing Units in Henry County, Virginia Over the Last 8 Years
Henry County, Virginia has experienced a varied trajectory in median home values over the past eight years, with a noticeable surge in recent years. Despite a dip from 2015 ($95,400) to 2019 ($93,900), the market saw substantial growth from 2020 ($97,400) to 2022 ($111,800). This local growth, while significant, still trails behind statewide and national trends where Virginia's median home values have risen sharply from $245,000 in 2015 to $339,800 in 2022. Nationally, values climbed from $125,500 to $179,400 over the same period. Prospective buyers or investors attracted to Henry County might find the current lower median home values compared to state and national averages a compelling opportunity, particularly given the recent growth and potential for continued appreciation.
Residential Energy Tax Credit Per Tax Return in Henry County, VA Over the Last 9 Years
Henry County, Virginia has seen notable variability in the average residential energy tax credit claimed per tax return over the last nine years. The most dramatic shift occurred in 2018, with credits spiking to $1,171.43, more than doubling the previous years' averages. Though the credit dipped in 2019 and 2020, it stayed relatively high compared to earlier years, reaching $827.59 in 2021. These trends might suggest increased investments in energy-efficient home improvements, a factor worth considering for investors, property builders, and those assessing home values or insurance rates.
Average Real Estate Taxes Per Tax Return in Henry County, VA Over the Last 10 Years
Henry County, Virginia has experienced a noticeable uptick in average real estate taxes per tax return over the past decade. Starting from approximately $1,074.85 in 2012, the average tax steadily rose, hitting a peak around $2,082.54 in 2020, with only a slight decline by 2021 at $2,075.86. Most notably, between 2017 and 2018, there is a significant jump from roughly $1,286.64 to $1,864.10. This trend may imply increasing property values or changes in tax policy, reflecting a more robust real estate market. These insights could be pivotal for potential property buyers, appraisers, and real estate professionals.
Percentage of Farm Returns in Henry County, VA Over the Last 10 Years
The data on farm tax returns in Henry County, Virginia over the past decade indicates a generally stable trend with slight fluctuations. From 2012 to 2021, the percentage of farm returns has hovered around 0.95% to 1.05%, peaking in 2017 at approximately 1.05%. Farm tax returns are essential for understanding the agricultural sector's contribution to the local economy, providing potential investors, developers, and residents with insight into the stability and sustainability of farm-related activities in the area. This consistency might suggest a stable agricultural community, which could impact decisions related to property investments or economic development projects in Henry County.
Number of Mortgages by Occupancy Type in Henry County, VA Over the Last 5 Years in Henry County
In Henry County, Virginia, over the past five years, the number of mortgages for principal residences generally overshadows those for investment and second properties. Trends indicate a relatively moderate fluctuation in principal residence mortgages, peaking in 2021 but decreasing in 2022. Investment property mortgages have seen some rises, especially from 2020 to 2022, suggesting a burgeoning interest in rental or commercial holdings. Second residences remain a niche segment but showcase a slight uptick around 2020. These shifts in occupancy type could have notable implications for property values, rental yields, insurance rates, and development strategies, making Henry County an interesting case for real estate stakeholders.
Economic Outlook
Henry County, Virginia has experienced an intriguing financial upswing, with average taxable income rising from $37,564.91 in 2013 to $48,545.55 in 2021. This steady growth, despite minor hiccups in 2019 and 2020, hints at economic resilience, which could captivate potential investors and newcomers. Meanwhile, average state and local income taxes have surged from $4,143.80 to $7,049.23 within the same period, indicating a growing tax burden. Average total tax liabilities have varied but... Read more
Average Taxable Income per Tax Return in Henry County, VA over the last 9 years
Over the past nine years, Henry County, Virginia has seen a notable increase in the average taxable income per tax return, from approximately $37,564.91 in 2013 to about $48,545.55 in 2021. The trend reveals a consistent upward trajectory, with only minor fluctuations in 2019 and 2020. This growth suggests economic resilience and possibly improving financial health among residents, making it potentially appealing to investors, real estate agents, and those considering moving to the area.
Average State and Local Income Taxes Per Tax Return in Henry County, VA Over the Last 10 Years
Henry County, Virginia has witnessed a notable upward trend in average state and local income taxes per tax return over the last decade, with an increase from $4,143.80 in 2012 to $7,049.23 in 2021. This suggests a growing tax burden that could impact various stakeholders, including potential investors, homebuyers, real estate agents, and insurance agents. Understanding these trends can be vital for accurately appraising properties and evaluating the financial landscape of the area.
Average Total Tax Liability Per Tax Return in Henry County, VA Over the Last 10 Years
The trend in Henry County, Virginia, over the last decade shows a noticeable fluctuation in the average total tax liability per tax return, with a general increase. Starting at $4,799.72 in 2012, it saw a steady rise to $5,611.52 by 2018. Interestingly, there was a dip in 2019 and 2020, dropping to $5,167.78 and $5,099.52, respectively, before climbing sharply to $5,864.94 in 2021. This pattern may suggest economic shifts or changes in tax policies affecting residents and is essential for potential investors and property developers to consider when assessing long-term financial commitments in Henry County.
Cost of Living in Henry County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $962 | $1,311 | $1,512 | $954 | $886 |
| 1 adult 4 children | $962 | $1,071 | $1,154 | $954 | $962 |
| 2 adults 3 children | $962 | $1,071 | $1,313 | $954 | $729 |
| 1 adult 3 children | $962 | $874 | $955 | $954 | $732 |
| 2 adults 2 children | $775 | $877 | $1,114 | $820 | $635 |
| 1 adult 2 children | $775 | $655 | $756 | $820 | $581 |
| 2 adults 1 child | $775 | $693 | $915 | $384 | $613 |
| 1 adult 1 child | $775 | $448 | $557 | $384 | $537 |
| 2 adults | $589 | $557 | $716 | $0 | $543 |
| 1 adult | $585 | $304 | $358 | $0 | $499 |
Safety trends & Data
Henry County, Virginia, has seen notable fluctuations in property crime over the past five years, particularly in larceny-theft incidents and burglary arrests, which may have a nuanced impact on property valuations and insurance premiums. Larceny-theft peaked at 170.0 incidents in 2018 but declined to 96.0 in 2021, later showing a slight rise. Burglary arrests dropped significantly from 45.0 in 2018 to 21.0 in 2022. Fraud-related arrests reached a high of 66.0 in 2020 but fell to 31.0 in 2022,... Read more
Property Crime Trends in Henry County, VA Over the Last 5 Years
Property crime in Henry County, Virginia, has shown noticeable fluctuations over the past five years, with larceny-theft being the most prevalent category, peaking at 170.0 incidents in 2018 and declining to a low of 96.0 in 2021 before slightly rising again. Arrests for burglary notably decreased from 45.0 in 2018 to 21.0 in 2022, indicating a possibly significant reduction in this crime. Fraud-related arrests appear to be somewhat variable, with a high of 66.0 reported in 2020, contrasting with a low of 31.0 in 2022. Motor vehicle theft arrests remained relatively steady but saw a jump to 31.0 in 2022, possibly indicating a recent uptick. Insurance agents, real estate investors, and appraisers should note these trends, as they could influence property valuations and insurance premiums.
Demographics
Henry County, Virginia sees a fairly balanced gender split among adults with a slight majority being female. The area leans towards an older population, particularly those aged 55 to 64 years, which suggests an aging resident base. In terms of education, high school graduates or those with some college education dominate, while a smaller portion of the population holds advanced degrees. Racially, the county is predominantly White, with a substantial Black or African American community. Such... Read more
Race Distribution in Henry County, Virginia (2022)
Educational Attainment in Henry County, Virginia (2022)
Age Distribution in Henry County, Virginia
Citizen Population in Henry County, Virginia (2022)
Political Trends & Data
In Henry County, Virginia, the political landscape may sway the real estate market with around 64% of voters favoring the Republican party in the 2020 U.S. Presidential Election. This conservative leaning could impact community preferences, driving trends toward family-oriented neighborhoods and influencing school district priorities. It's worth considering that about 35% Democratic support and under 1% for Libertarians reflect a modestly diverse political makeup, potentially attracting a range... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Henry County in Virginia leans predominantly Republican, with about 64% of the votes for the party in the 2020 U.S. Presidential Election. Democrats garnered close to 35%, while Libertarians accounted for a small fraction at just under 1%. Other parties, including the Green Party, showed negligible support in this county.
64.07% of voters voted for the Republican party in the 2020 Presidential Election
34.96% of voters voted for the Democrat party in the 2020 Presidential Election
0.85% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Henry County, Virginia, the student-to-teacher ratio has fluctuated around 15 students per teacher over the past decade, peaking at 15.92 in 2019 before dropping to 13.83 in 2023. This trend towards smaller class sizes could suggest improved educational quality, making the area potentially more appealing to families. For investors and real estate agents, these changes may highlight an opportunity for increased demand in residential properties, while insurance agents and developers might need... Read more
Student-to-teacher ratio in Henry County, Virginia over the last 10 years
The student-to-teacher ratio in Henry County, Virginia has generally hovered around 15 students per teacher over the last decade, peaking at 15.92 in 2019 before dropping to 13.83 in 2023. This trend indicates that class sizes have become smaller in recent years, bringing the ratio closer to the national average of 14 students per teacher. For investors, appraisers, and real estate agents, this shift suggests potential improvements in educational quality and could make the area more attractive to families. For insurance agents and those considering building property, changing demographics might inform risk assessments and development planning.
