Lunenburg County Real Estate and Livability Trends
In Lunenburg County, Virginia, median home values rose from $106,600 in 2015 to $139,700 in 2022, despite trending below state averages. Unique dips and sharp increases hint at local economic boosts affecting property demand. Residential energy tax credits per return peaked in 2019 and 2021, suggesting higher energy-efficient home improvements. Meanwhile, real estate taxes per return surged... Read more
Lunenburg County Market Trends
Lunenburg County, Virginia has experienced notable growth in median home values, rising from $106,600 in 2015 to $139,700 in 2022, despite being below the state average. A unique dip in 2021 followed by a sharp increase in 2022 suggests recent local economic activities boosting property demand. The residential energy tax credits per tax return have fluctuated, peaking in 2019 and 2021, signaling... Read more
Median Value of Occupied Housing Units in Lunenburg County, Virginia Over the Last 8 Years
Over the past eight years, median home values in Lunenburg County, Virginia have seen significant growth, moving from $106,600 in 2015 to $139,700 in 2022. Although these values are lower compared to Virginia's state average, which escalated from $245,000 to $339,800 in the same period, they still reflect a percentage gain that could indicate growing interest or development in the area. Nationally, home values also rose, jumping from $125,500 to $179,400, yet Lunenburg’s market exhibited a unique trend with a slight dip in 2021 before a sharp increase in 2022, which could suggest recent local economic activities or investments driving up property demand.
Residential Energy Tax Credit Per Tax Return in Lunenburg County, VA Over the Last 8 Years
Over the past eight years, Lunenburg County, Virginia has seen significant fluctuations in residential energy tax credits per tax return, with notable spikes in 2019 ($1500.00) and 2021 ($1066.67). These trends suggest potential increases in energy-efficient home improvements or changes in tax incentive structures. Such data can be insightful for prospective investors, real estate agents, and homeowners looking to benefit from energy incentives or improve the resale value of properties.
Average Real Estate Taxes Per Tax Return in Lunenburg County, VA Over the Last 10 Years
Over the past decade, Lunenburg County, Virginia has seen a notable rise in average real estate taxes per tax return, with values climbing from around $1,170.73 in 2012 to roughly $1,766.67 in 2021. The most significant jump occurred between 2017 and 2018, where taxes per return surged from approximately $1,159.15 to $1,609.52. This trend could be driven by various factors, including increasing property values, changes in local tax policies, or shifts in county funding requirements. For investors, homeowners, and real estate professionals, such tax trends may impact property valuations, investment returns, and long-term financial planning.
Percentage of Farm Returns in Lunenburg County, VA Over the Last 10 Years
Farm tax returns in Lunenburg County, Virginia, have fluctuated over the last decade, showing a high of around 6.04% in 2012 and a decline to approximately 4.72% by 2020. These tax returns offer insights into the economic contributions and stability of the farming sector in the area. For investors or those looking to move, build, or develop property in Lunenburg County, the trend of fluctuating but generally strong farm tax returns might indicate a resilient agricultural backbone, potentially affecting land values and local economic opportunities.
Number of Mortgages by Occupancy Type in Lunenburg County, VA Over the Last 5 Years in Lunenburg County
Lunenburg County, Virginia's mortgage trends over the past five years show a predominant interest in principal residences, with numbers peaking around 413 mortgages in 2020 before a slight dip. Investment property mortgages have slightly decreased, reflecting perhaps cautious investor sentiment or shifting market dynamics. Second residence mortgages fluctuate minimally. Changes in occupancy types matter as they give a nuanced view of market health and demand. For investors, a solid principal residence market suggests stability and potential long-term returns. Appraisers and insurance agents gain insight into property value trends and risk assessment. For real estate agents, understanding these shifts supports targeted marketing and client advisories. Builders can gauge interest in new developments, tailoring projects to meet principal residence demands, while residents and potential movers can assess community growth and vibrancy.
Economic Outlook
Lunenburg County, Virginia, has seen a consistent rise in average taxable income per tax return, climbing from $39,126.92 in 2013 to $58,120.25 by 2021. This trend suggests economic growth or positive employment shifts, which could pique the interest of potential investors and property developers. Concurrently, average state and local income taxes per tax return more than doubled from $3,628.57 in 2012 to $8,468.75 in 2021, hinting at economic fluctuations or tax policy changes. Additionally,... Read more
Average Taxable Income per Tax Return in Lunenburg County, VA over the last 9 years
Lunenburg County, Virginia has shown an upward trend in average taxable income per tax return over the past nine years. Starting from $39,126.92 in 2013, the average rose gradually each year, reaching $58,120.25 by 2021. Noteworthy increments can be observed particularly from 2018 onwards, suggesting potential economic growth or shifts in the local employment landscape that might be beneficial for people considering investment, relocation, property development, or real estate transactions. This steady increase in taxable income could indicate a strengthening local economy and increasing affluence, factors that appraisers and insurance agents might find important for valuation and risk assessment purposes.
Average State and Local Income Taxes Per Tax Return in Lunenburg County, VA Over the Last 10 Years
Lunenburg County, Virginia, has experienced a notable increase in average state and local income taxes per tax return over the past decade, with figures more than doubling from $3,628.57 in 2012 to $8,468.75 in 2021. Notable spikes occurred in 2018 and 2021, suggesting fluctuations that may be tied to economic factors or changes in tax policies. These rising tax burdens could influence decisions for potential investors, appraisers, and prospective residents considering the cost of living and financial planning in the area.
Average Total Tax Liability Per Tax Return in Lunenburg County, VA Over the Last 10 Years
Over the past decade, Lunenburg County, Virginia has seen a notable increase in the average total tax liability per tax return. Starting at $4,924.52 in 2012, it reached approximately $9,000.81 by 2021, indicating a significant long-term upward trend. This rise could impact decisions for potential investors, property builders, and real estate agents, as higher tax liabilities may reflect economic changes or growth in the region. Such a financial landscape should be carefully considered by insurance agents and appraisers when evaluating property values and risks.
Cost of Living in Lunenburg County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,093 | $1,355 | $1,681 | $938 | $1,037 |
| 1 adult 4 children | $1,093 | $1,107 | $1,284 | $938 | $1,146 |
| 2 adults 3 children | $1,093 | $1,107 | $1,459 | $938 | $852 |
| 1 adult 3 children | $1,093 | $904 | $1,062 | $938 | $883 |
| 2 adults 2 children | $793 | $906 | $1,237 | $820 | $710 |
| 1 adult 2 children | $793 | $677 | $840 | $820 | $651 |
| 2 adults 1 child | $793 | $716 | $1,015 | $436 | $691 |
| 1 adult 1 child | $793 | $463 | $618 | $436 | $605 |
| 2 adults | $611 | $575 | $793 | $0 | $598 |
| 1 adult | $588 | $314 | $396 | $0 | $538 |
Safety trends & Data
Over the past five years, Lunenburg County, Virginia has experienced fluctuating property crime rates, particularly in burglary and larceny-theft. Burglary incidents ranged between 1.0 to 4.0 annually, and while larceny-theft peaked at 9.0 in 2018, it saw a sharp decline by 2021. Vandalism spiked in 2019 but significantly decreased by 2021. Fraud, forgery, and motor vehicle theft remained relatively stable but low. This indicates some improvement in property crime rates, with specific areas... Read more
Property Crime Trends in Lunenburg County, VA Over the Last 5 Years
Over the past five years in Lunenburg County, Virginia, there has been a notable fluctuation in property crime. Burglary incidents ranged from 1.0 to 4.0 annually, while larceny-theft, although peaking at 9.0 in 2018, saw a sharp decline by 2021. Vandalism saw an uptick in 2019 but then decreased significantly by 2021. Other crimes like fraud, forgery, and motor vehicle theft remained relatively stable but low in frequency, indicating specific areas of concern for anyone appraising, insuring, or investing in property within the county. Overall, the data suggests some level of improvement in property crime rates, with varying degrees of severity depending on the specific type of crime.
Demographics
Lunenburg County, Virginia's adult population leans slightly male with 4953 men compared to 4302 women. When it comes to educational attainment, a significant portion has reached high school graduation, but a noticeable number haven't achieved beyond some college. The county's age distribution shows a sizable aging population with those over 55 years rivaling younger age groups. In terms of racial composition, the area is predominantly White and Black or African American, with very few... Read more
Race Distribution in Lunenburg County, Virginia (2022)
Educational Attainment in Lunenburg County, Virginia (2022)
Age Distribution in Lunenburg County, Virginia
Citizen Population in Lunenburg County, Virginia (2022)
Political Trends & Data
Lunenburg County, Virginia demonstrates a considerable Republican preference, with nearly 59% of votes in the 2020 U.S. Presidential Election. Democrats received around 40%, while third-party candidates barely made an impact. This two-party dominance may influence campaign strategies in future elections, emphasizing the importance of targeting major party constituents over third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lunenburg County, Virginia shows a notable leaning towards Republican candidates, who received nearly 59% of the vote in the 2020 U.S. Presidential Election. Democrats garnered around 40%, while third-party options like the Libertarian Party barely made a dent, suggesting a strong two-party preference. This pattern may indicate a political environment where alternative party influence remains minimal, potentially shaping future campaign strategies.
58.93% of voters voted for the Republican party in the 2020 Presidential Election
40.29% of voters voted for the Democrat party in the 2020 Presidential Election
0.67% of voters voted for the Livertarian party in the 2020 Presidential Election
0.12% of voters voted for the Other party in the 2020 Presidential Election
School Data
Lunenburg County, Virginia has observed a decrease in its student-to-teacher ratio from a peak of 20:1 in 2017 to about 12:1 recently, outperforming the national average of 14:1. This trend potentially enhances the area's appeal for families considering relocation, highlighting the stability and responsiveness of the county's education system. These developments could play a role in shaping property values, community planning, and educational funding, making the county an interesting prospect... Read more
Student-to-teacher ratio in Lunenburg County, Virginia over the last 10 years
Lunenburg County, Virginia has seen fluctuations in its student-to-teacher ratio over the last decade, peaking dramatically at 20 students per teacher in 2017 before steadily declining to around 12 in recent years. This ratio indicates a more favorable classroom environment compared to the national average of 14 students per teacher, potentially enhancing the appeal for families considering a move to the area. These trends likely matter to investors, real estate agents, and insurance agents as they reflect the county's education system stability and perhaps its responsiveness to changing population dynamics. Such metrics can influence property values, community development decisions, and educational funding allocations.
