Highland County Real Estate and Livability Trends
Highland County, Virginia's real estate market appears to be evolving, with average taxable income per tax return rising to $58,091.51 in 2021. This increase could potentially drive property values upward. Fluctuations in property taxes, which jumped from $1,604.76 in 2012 to $3,433.33 in 2021, may hint at rising property values or increased levy rates. Meanwhile, the stable presence of farm tax... Read more
Highland County Market Trends
Highland County, Virginia's real estate market reveals intriguing dynamics, with home values fluctuating significantly over recent years, contrasted by more steady state and national trends. Property taxes have more than doubled from $1,604.76 in 2012 to $3,433.33 in 2021, hinting at rising property values or increased levy rates. The percentage of farm tax returns, consistently ranging between... Read more
Median Value of Occupied Housing Units in Highland County, Virginia Over the Last 8 Years
The median value of occupied housing units in Highland County, Virginia, has seen fluctuations over the last eight years, ranging from $160,800 in 2016 to a peak of $184,000 in 2017. Compared to the state's consistent growth, with values climbing from $245,000 in 2015 to $339,800 in 2022, Highland County's market shows more variability. National trends also indicate a steady rise from $125,500 in 2015 to $179,400 in 2022. For those eyeing real estate in Highland County, this volatility might suggest opportunities for strategic investment, particularly when weighed against the broader, more stable state and national increases.
Average Real Estate Taxes Per Tax Return in Highland County, VA Over the Last 10 Years
Over the last decade, Highland County, Virginia, has seen a notable increase in average real estate taxes per tax return, rising from approximately $1,604.76 in 2012 to about $3,433.33 in 2021. This upward trend might suggest rising property values or increased levy rates, which could impact decisions for potential investors, property developers, or those considering relocating to the area. Real estate agents and insurance providers should be mindful of these changes, as they may influence property appraisals and insurance premiums respectively. It's essential for those involved in the real estate market or who have stakes in the community to monitor these evolving tax trends for informed decision-making.
Percentage of Farm Returns in Highland County, VA Over the Last 10 Years
Over the last decade in Highland County, Virginia, the percentage of farm tax returns has displayed some fluctuations but generally remained within the 19.05% to 21.70% range. These figures indicate a steady agricultural presence, with slight dips and rises rather than any dramatic shifts. Farm tax returns are crucial as they reflect the number of active farming enterprises that file taxes, which can be an indicator of the economic vitality and sustainability of the agricultural sector in the region. This could matter greatly for prospective investors, real estate developers, and new residents considering the prevailing stability and a relatively active farming community in Highland County.
Number of Mortgages by Occupancy Type in Highland County, VA Over the Last 5 Years in Highland County
In Highland County, Virginia, over the past five years, the number of mortgages indicates shifting trends in occupancy types. Principal residences consistently dominate the mortgage landscape, yet there's notable variability year-to-year. Investment properties reveal a small but consistent interest, potentially driven by localized market factors or broader economic conditions. Second residences show a stable but modest presence, which might appeal to those seeking vacation homes or supplementary property investments. Such changes in occupancy type hold significance for investors, real estate agents, and appraisers as they reflect broader economic trends, market stability, and potential for future development. Understanding these dynamics helps insurers adjust risk assessment and can guide those looking to buy or build property in the area.
Economic Outlook
Highland County, Virginia's real estate market may offer growing opportunities given the overall rise in average taxable income per tax return, which notably jumped to $58,091.51 in 2021. Despite occasional drops, this upward trend suggests an evolving market that might drive up property values and demand. Fluctuations in state and local income taxes and total tax liability, with notable spikes in 2020 and 2021, reflect a dynamic economic environment. This variability could be crucial for... Read more
Average Taxable Income per Tax Return in Highland County, VA over the last 9 years
Over the past nine years, Highland County, Virginia has seen fluctuations in average taxable income per tax return, with notable increases between 2015 and 2016, and a significant jump in 2021 to $58,091.51. Periodic drops, such as in 2017 and 2019, suggest volatility but the overall trend points to a general rise. For potential investors, property developers, and real estate professionals, this indicates a market with growing income levels that might drive up property values and demand. For insurance agents and appraisers, the increasing taxable income could mean higher property valuations and premiums.
Average State and Local Income Taxes Per Tax Return in Highland County, VA Over the Last 10 Years
Over the past decade, the average state and local income taxes per tax return in Highland County, Virginia have experienced significant variability. Starting at $5,355.00 in 2012, there were dips and spikes, with a notable increase in 2014 to $6,261.11, another substantial rise in 2019 to $6,750.00, and a dramatic surge in 2020 reaching $11,266.67. The latest figure for 2021 shows a minor decrease to $10,925.00. These fluctuations could be vital for potential investors, residents, and real estate professionals, highlighting the dynamic economic factors in the area.
Average Total Tax Liability Per Tax Return in Highland County, VA Over the Last 10 Years
The average total tax liability per tax return in Highland County, Virginia, has shown notable fluctuations over the last decade. Starting at $5,752.50 in 2012, there was a general upward trend peaking dramatically at $9,109.88 in 2021. Noteworthy years include 2016 with $7,432.91 and a minor dip in 2019 at $5,966.67. This variation may interest investors, homebuyers, and real estate professionals as it reflects economic shifts that could impact property values and the financial landscape in the county.
Cost of Living in Highland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,052 | $1,476 | $1,681 | $1,478 | $1,322 |
| 1 adult 4 children | $1,052 | $1,205 | $1,284 | $1,478 | $1,462 |
| 2 adults 3 children | $1,052 | $1,206 | $1,459 | $1,478 | $1,087 |
| 1 adult 3 children | $1,052 | $984 | $1,062 | $1,478 | $1,208 |
| 2 adults 2 children | $795 | $987 | $1,237 | $1,281 | $918 |
| 1 adult 2 children | $795 | $737 | $840 | $1,281 | $880 |
| 2 adults 1 child | $795 | $780 | $1,015 | $641 | $796 |
| 1 adult 1 child | $795 | $504 | $618 | $641 | $692 |
| 2 adults | $637 | $627 | $793 | $0 | $642 |
| 1 adult | $590 | $342 | $396 | $0 | $551 |
Safety trends & Data
Highland County, Virginia has experienced some fluctuations in property crime over the last three years. Though 2020 saw merely one larceny-theft incident, 2021 witnessed a slight uptick with single instances of burglary, larceny-theft, vandalism, and stolen property possession. Notably, 2022 had an increase, primarily in larceny-theft with four cases and two burglaries. This could suggest a rising trend in property crimes, especially theft and burglary, despite the overall low numbers. This... Read more
Property Crime Trends in Highland County, VA Over the Last 3 Years
Highland County, Virginia has seen some fluctuations in property crime over the last three years. While 2020 only recorded one larceny-theft incident, 2021 saw a slight uptick with single instances of burglary, larceny-theft, vandalism, and stolen property possession. Noticeably, 2022 experienced an increase, particularly in larceny-theft with four cases and two burglaries. This pattern may suggest a trend where property crimes, especially theft and burglary, are becoming more common, albeit still at low overall numbers. This data could be crucial for potential investors, real estate agents, insurance agents, and those considering relocation, as it provides insight into the evolving security landscape of the area.
Demographics
Highland County, Virginia, showcases a slight female majority in its adult population and a diverse spectrum of educational attainment, with noteworthy segments holding at least a high school diploma and a smaller, but still substantial, portion having graduated with college or professional degrees. The age distribution appears to skew towards an older demographic, with a significant number of residents aged 55 years and above. When it comes to racial composition, the county is predominantly... Read more
Race Distribution in Highland County, Virginia (2022)
Educational Attainment in Highland County, Virginia (2022)
Age Distribution in Highland County, Virginia
Citizen Population in Highland County, Virginia (2022)
Political Trends & Data
In Highland County, Virginia, the 2020 U.S. Presidential Election suggested a strong lean towards the Republican Party, capturing around 71% of the vote. The Democratic Party might have garnered approximately 27%, indicating a smaller yet notable base of support. Libertarian candidates saw about 1.4% of the votes, while other parties barely registered. These trends might suggest a predominantly conservative voter base in Highland... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Highland County, Virginia, the voting patterns from the 2020 U.S. Presidential Election seemed to lean heavily towards the Republican Party, which potentially captured around 71% of the vote. Meanwhile, the Democratic Party might have garnered approximately 27%, indicating a substantial but smaller base of support. Libertarian candidates, albeit a minor presence, accounted for about 1.4% of the votes, with other parties barely making a mark in the county. These trends possibly highlight a predominantly conservative voter base in Highland County.
71.23% of voters voted for the Republican party in the 2020 Presidential Election
27.20% of voters voted for the Democrat party in the 2020 Presidential Election
1.44% 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
