Lee County Real Estate and Livability Trends
Lee County, Virginia showcases a rising average taxable income per tax return up to $45,527.69 by 2021, which could catch the eye of investors seeking economic stability. The steady increase in median home values to $95,800 in 2022 remains significantly lower than both the state and national medians, presenting potential opportunities for affordable housing investments. A noteworthy decline in... Read more
Lee County Market Trends
Lee County, Virginia has seen a steady rise in median home values from $81,700 in 2017 to $95,800 in 2022, falling well below Virginia's median at $339,800 and the national median of $179,400. Residential energy tax credits per tax return in the county show fluctuations, peaking at $542.86 in 2016 and dipping to $233.33 in 2019, likely due to changing incentives or resident participation in... Read more
Median Value of Occupied Housing Units in Lee County, Virginia Over the Last 8 Years
Lee County, Virginia has seen a gradual increase in median home values over the past eight years, with a noticeable jump from $81,700 in 2017 to $95,800 in 2022. While this growth seems significant for the area, it remains well below the state and national averages, with Virginia's median home value reaching $339,800 and the national median hitting $179,400 in 2022. For potential investors or those considering relocating, this suggests that Lee County could offer more affordable housing options while still demonstrating a steady upward trend in property values.
Residential Energy Tax Credit Per Tax Return in Lee County, VA Over the Last 8 Years
Lee County, Virginia appears to exhibit fluctuating levels of residential energy tax credits per tax return over the last eight years, with notable peaks in 2016 at $542.86 and in 2021 at $450.00. This variability likely reflects changes in local energy efficiency incentives or resident participation in energy-saving initiatives. Interestingly, the lowest point occurred in 2019 at $233.33, suggesting a potential decline in energy-efficient investments or available credits at that time. Such insights are crucial for stakeholders like real estate agents, insurance agents, and potential investors aiming to understand the locality's energy efficiency trends and potential for future energy-saving benefits.
Average Real Estate Taxes Per Tax Return in Lee County, VA Over the Last 10 Years
Over the past decade in Lee County, Virginia, average real estate taxes per tax return have exhibited a notable upward trend, surging from approximately $1,166.67 in 2012 to $2,136.36 in 2021. Significant jumps, particularly between 2017 and 2018, where taxes increased from approximately $1,353.62 to $1,892.86, indicate possible reassessments or shifts in local government fiscal strategies. These changes underscore a potentially rising demand for local public services or improvements in property values. Investors, appraisers, real estate agents, and potential residents should consider these trends when making decisions, as they reflect financial commitments and returns related to property ownership in the county.
Percentage of Farm Returns in Lee County, VA Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Lee County, Virginia has seen a slow decline. Starting at 10.50% in 2012, the percentage dropped to 8.66% by 2021. This decrease could imply a gradual reduction in active farming operations or a shift towards other economic activities. For potential investors or individuals considering relocating to Lee County, these trends might suggest a changing landscape in the local agricultural sector, possibly indicating new development opportunities or the need for diversification in economic planning.
Number of Mortgages by Occupancy Type in Lee County, VA Over the Last 5 Years in Lee County
Over the last five years in Lee County, Virginia, there is a discernible uptrend in the number of mortgages for principal residences, noticeably peaking in 2021. Conversely, mortgages for investment properties have generally decreased, with a significant drop observed in 2022. Meanwhile, second residences remain a relatively small portion of the market, showing slight fluctuations without a clear trend. These shifts in occupancy type highlight potential changes in market demand and preferences, which can influence property values and investment decisions, as well as impact appraisal and insurance assessments. Potential stakeholders should consider these trends to better understand the evolving real estate landscape in the area.
Economic Outlook
Lee County, Virginia has experienced a growing average taxable income per tax return, up from $37,218.48 in 2013 to $45,527.69 by 2021, signaling economic stability and possibly more job opportunities. This could be appealing to investors and real estate pros eyeing long-term growth. However, the average state and local income taxes per tax return have been volatile, spiking to $7,145.45 in 2021 from around $4,500 to $5,000 until 2017, suggesting shifts in incomes or tax policies. These... Read more
Average Taxable Income per Tax Return in Lee County, VA over the last 9 years
Over the past nine years, Lee County, Virginia, has seen a gradual but consistent increase in average taxable income per tax return. Starting from $37,218.48 in 2013, the average taxable income rose to $45,527.69 by 2021. This upward trend suggests growing economic stability and potentially increased job opportunities in the area, which may be of interest to investors, potential residents, appraisers, insurance agents, and real estate professionals looking at long-term growth prospects in the county.
Average State and Local Income Taxes Per Tax Return in Lee County, VA Over the Last 10 Years
Lee County, Virginia has seen a noticeable and somewhat volatile increase in average state and local income taxes per tax return over the past decade. Starting at $4,497.83 in 2012, the tax rate hovered around $4,500 to $5,000 until 2017, when it experienced a sharp uptick, peaking at $7,145.45 in 2021. This climb in tax rates suggests an evolving economic landscape in the county and potentially reflects rising incomes or adjustments in tax policy. For potential investors, homeowners, or real estate agents, understanding these tax trends is crucial for financial planning and property valuation.
Average Total Tax Liability Per Tax Return in Lee County, VA Over the Last 10 Years
Over the past decade in Lee County, Virginia, there has been some fluctuation in the average total tax liability per tax return, with notable peaks around 2016 and 2021. Values varied from a low of approximately $4,455.14 in 2019 to a high of around $5,413.52 in 2021. This suggests potential changes in economic conditions, income levels, or tax policies that might have influenced these values, making it relevant for investors, property developers, and policymakers to understand these dynamics as they might reflect broader economic trends and potential tax implications for the area.
Cost of Living in Lee County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,014 | $1,287 | $1,512 | $997 | $927 |
| 1 adult 4 children | $1,014 | $1,051 | $1,154 | $997 | $1,030 |
| 2 adults 3 children | $1,014 | $1,051 | $1,313 | $997 | $771 |
| 1 adult 3 children | $1,014 | $858 | $955 | $997 | $789 |
| 2 adults 2 children | $793 | $861 | $1,114 | $871 | $665 |
| 1 adult 2 children | $793 | $643 | $756 | $871 | $612 |
| 2 adults 1 child | $793 | $680 | $915 | $461 | $648 |
| 1 adult 1 child | $793 | $439 | $557 | $461 | $572 |
| 2 adults | $675 | $546 | $716 | $0 | $578 |
| 1 adult | $588 | $298 | $358 | $0 | $502 |
Safety trends & Data
Over the past five years in Lee County, Virginia, arson incidents have increased notably from 2 in 2018 to 5 in 2022, and while burglary cases remain low and stable at around 3 to 5 incidents per year, larceny and theft have decreased significantly from 32 occurrences in 2018 to 17 in 2022. Meanwhile, fraud cases peaked at 22 in 2021 but have since reduced to 14 in 2022, and motor vehicle thefts have shown a minor increase, reaching 7 by 2022. These trends could suggest shifts in local crime... Read more
Property Crime Trends in Lee County, VA Over the Last 5 Years
Over the last five years in Lee County, Virginia, the trends in property crimes indicate a general fluctuation in incidents, with certain categories showing distinct changes. Arson incidents have increased notably from 2 in 2018 to 5 in 2022. Burglary cases have remained relatively stable but low, hovering around the 3 to 5 incidents per year mark. Larceny and theft have seen a decrease from 32 occurrences in 2018 to 17 in 2022, suggesting potential improvements in crime prevention or changes in reporting. Fraud cases have more than doubled, peaking at 22 in 2021 and slightly reducing to 14 in 2022. Meanwhile, incidents of motor vehicle theft saw a minor increase, reaching 7 by 2022. These trends provide crucial insights for investors, real estate agents, and local residents, highlighting areas that may require additional security measures or indicate changing community dynamics.
Demographics
Lee County, Virginia's adult population shows a slight male majority. The educational attainment data reveals a substantial portion of adults holding high school diplomas or some college education, though the number of individuals with graduate degrees is minimal. The age distribution highlights a significant elderly population, particularly in the 55 to 74 years bracket, suggesting possible considerations for healthcare and retirement services. The racial composition is predominantly White,... Read more
Race Distribution in Lee County, Virginia (2022)
Educational Attainment in Lee County, Virginia (2022)
Age Distribution in Lee County, Virginia
Citizen Population in Lee County, Virginia (2022)
Political Trends & Data
In the 2020 U.S. Presidential Election, Lee County, Virginia displayed a strong Republican preference with over 84% of the vote, while the Democratic vote hovered around 15%. Third parties and other candidates barely made a dent, each capturing less than 1% of the total vote. This trend suggests a solid Republican stronghold in the area, aligning with patterns commonly observed in rural Virginian... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In the 2020 U.S. Presidential Election, Lee County, Virginia likely displayed a strong Republican preference with over 84% of the vote, while the Democratic vote hovered around 15%. Third parties and other candidates barely made a dent, each capturing less than 1% of the total vote. This trend may indicate a solid Republican stronghold in the area, reflecting patterns observed in rural Virginian counties.
84.10% of voters voted for the Republican party in the 2020 Presidential Election
14.97% of voters voted for the Democrat party in the 2020 Presidential Election
0.78% of voters voted for the Livertarian party in the 2020 Presidential Election
0.15% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lee County, Virginia has experienced a notable decline in its student-to-teacher ratio over the past decade, from approximately 15 students per teacher in 2014 to just under 12 students per teacher in 2023. This trend, which is better than the current national average of 14 students per teacher, might appeal to families, investors, and education professionals, as it could indicate smaller class sizes, potentially better educational outcomes, and shifts in local education policy or population... Read more
Student-to-teacher ratio in Lee County, Virginia over the last 10 years
Over the last decade, Lee County, Virginia has seen a notable decrease in its student-to-teacher ratio from a high of around fifteen students per teacher in 2014 to just under twelve students per teacher in 2023. This is notably better than the current national average of fourteen students per teacher. For families considering a move, investors, or those in the education sector, this trend may suggest a potential increase in individualized attention for students, possibly reflecting smaller class sizes and better educational outcomes. It could also signify changes in local educational policy or population shifts.
