Madison County Real Estate and Livability Trends
Madison County, Virginia’s real estate landscape is shaped by increasing incomes and taxes, with the average taxable income per tax return rising from $53,938.29 in 2013 to $78,611.54 in 2021 and state and local income taxes climbing correspondingly. The median home values outpaced national trends, growing from $241,200 in 2015 to $311,500 by 2022. This surge, alongside a substantial jump in... Read more
Madison County Market Trends
Madison County, Virginia’s real estate market has seen a notable upswing, with median home values climbing from $241,200 in 2015 to $311,500 by 2022, outpacing the national median. There has been a significant rise in residential energy tax credits per tax return, jumping from $366.67 in 2013 to $1,522.22 in 2021, hinting at increased investments in energy efficiency. Average real estate taxes... Read more
Median Value of Occupied Housing Units in Madison County, Virginia Over the Last 8 Years
Madison County, Virginia's median home value has grown significantly over the past eight years, jumping from $241,200 in 2015 to $311,500 by 2022. This steady rise outpaces the national median, which reached $179,400 in 2022, and aligns closely with the state of Virginia, which saw an increase from $245,000 to $339,800 over the same period. Prospective investors and new residents might find Madison County appealing given its robust appreciation trend, suggesting a strong local housing market.
Residential Energy Tax Credit Per Tax Return in Madison County, VA Over the Last 8 Years
Madison County, Virginia has seen a remarkable increase in residential energy tax credits per tax return over the past eight years. Starting from $366.67 in 2013, the average credit skyrocketed to $1,522.22 by 2021. This trend may suggest a significant investment in energy-efficient upgrades among homeowners, potentially boosting property values and offering a higher ROI for investors. For real estate agents, appraisers, and insurance agents, these shifts could indicate that energy-efficient features are becoming a critical selling point and risk factor in the local market.
Average Real Estate Taxes Per Tax Return in Madison County, VA Over the Last 10 Years
Over the past decade, Madison County, Virginia, has seen a noticeable rise in average real estate taxes per tax return. From $2,366.67 in 2012 to $4,151.06 in 2021, the steady increase, particularly sharp since 2017, reflects broader economic trends, possibly indicating a growth in property values and municipal needs. This pattern may interest investors and real estate agents looking for appreciation potential, as well as appraisers and insurance agents assessing risk and value. Those considering moving to or building in the area might also want to factor these rising tax obligations into their long-term financial planning.
Percentage of Farm Returns in Madison County, VA Over the Last 10 Years
Madison County, Virginia has shown modest fluctuations in the percentage of farm tax returns over the past ten years, oscillating between approximately 5.29% in 2020 and 6.45% in 2015. Farm tax returns can serve as a proxy for agricultural activity and the economic health of the farming sector. A decreasing trend may suggest consolidation of farms, shifts away from agrarian livelihoods, or changes in economic viability. This data could interest investors and new residents seeking to understand local economic dynamics or those considering the impact on rural real estate and community stability.
Number of Mortgages by Occupancy Type in Madison County, VA Over the Last 5 Years in Madison County
Madison County, Virginia, has shown varying trends in the number of mortgages by occupancy type over the last five years. There's a notable spike in mortgages for principal residences in 2021 reaching 1057, compared to 550 in 2018, suggesting increased buying or refinancing activity. Investment properties, however, have remained relatively stable with minor fluctuations, indicating possibly limited investor interest or opportunities. Second residences have seen a slight overall increase but remain a small fraction of the total mortgages. Such shifts in occupancy type can indicate changing housing demands and market dynamics, essential for investors, real estate agents, and builders to gauge market health and potential profitability. For appraisers and insurance agents, understanding these trends aids in accurately assessing property values and risks. For potential residents or those considering investing, these changes could reflect broader economic or social shifts influencing Madison County's real estate market.
Economic Outlook
Madison County, Virginia has seen significant economic strides, with average taxable income per tax return rising from $53,938.29 in 2013 to $78,611.54 in 2021. Concurrently, state and local income taxes increased from $5,508.72 in 2012 to $10,485.42 in 2021. Total tax liability also showed a notable climb, going from $7,960.00 in 2012 to $12,130.40 in 2021. These financial trends likely point to broader economic growth and evolving local fiscal policies, presenting both opportunities and... Read more
Average Taxable Income per Tax Return in Madison County, VA over the last 9 years
Over the past nine years, Madison County, Virginia has witnessed a remarkable increase in average taxable income per tax return, growing from approximately $53,938.29 in 2013 to an estimated $78,611.54 in 2021. This rising trajectory suggests economic growth and potentially improved job opportunities, making Madison County an attractive location for investors, real estate developers, and potential homeowners. These trends could influence property values, insurance costs, and investment risks, offering a dynamic financial landscape for those interested in the area.
Average State and Local Income Taxes Per Tax Return in Madison County, VA Over the Last 10 Years
Over the past decade, Madison County, Virginia has witnessed a notable increase in average state and local income taxes per tax return, which rose from approximately $5,508.72 in 2012 to about $10,485.42 in 2021. This upward trend could suggest a growing local economy or possibly higher local government spending, both of which could influence the fiscal landscape for potential investors, residents, and real estate professionals. However, such changes may also impact appraisals and insurance premiums due to the evolving economic conditions.
Average Total Tax Liability Per Tax Return in Madison County, VA Over the Last 10 Years
Over the past decade, average total tax liability per tax return in Madison County, Virginia has fluctuated notably. Starting at around $7,960.00 in 2012, it climbed to approximately $12,130.40 by 2021. This rising trend could be indicative of several factors including increased income levels, policy changes, or economic growth in the area, which might be crucial for those considering real estate investments, relocations, or property appraisals. Real estate agents, insurance agents, and appraisers may see these trends as signals of the shifting economic landscape, potentially affecting property values and insurance premiums.
Cost of Living in Madison County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,225 | $1,383 | $1,549 | $1,951 | $1,450 |
| 1 adult 4 children | $1,225 | $1,130 | $1,182 | $1,951 | $1,621 |
| 2 adults 3 children | $1,225 | $1,130 | $1,346 | $1,951 | $1,229 |
| 1 adult 3 children | $1,225 | $923 | $978 | $1,951 | $1,365 |
| 2 adults 2 children | $984 | $925 | $1,142 | $1,691 | $1,008 |
| 1 adult 2 children | $984 | $691 | $775 | $1,691 | $1,058 |
| 2 adults 1 child | $984 | $731 | $939 | $846 | $864 |
| 1 adult 1 child | $984 | $472 | $571 | $846 | $782 |
| 2 adults | $748 | $587 | $735 | $0 | $644 |
| 1 adult | $743 | $320 | $368 | $0 | $594 |
Safety trends & Data
Madison County, Virginia has experienced fluctuating trends in property crime over the last five years, with larceny-theft remaining the most common issue, peaking in 2018 and 2022. Notably, burglary incidents have generally increased, with spikes in 2019 and 2022, while motor vehicle theft showed occasional surges, particularly in 2021. Financial crimes such as embezzlement, fraud, and forgery have been rare and sporadic. This crime data could be essential for investors, homebuyers, and real... Read more
Property Crime Trends in Madison County, VA Over the Last 5 Years
Madison County, Virginia has seen varied trends in property crime over the last five years. Larceny - Theft remains the most recurrent crime, with numbers fluctuating between 9 and 18 incidents per year, peaking in 2018 and 2022. Burglary incidents have shown a general uptick, with notable increases in 2019 and 2022. Motor Vehicle Theft also displayed some variability, with occasional spikes such as in 2021. Financial crimes like Embezzlement, Fraud, and Forgery have been relatively low with only sporadic occurrences. This crime data is crucial for investors, homebuyers, and real estate professionals assessing the county's safety and economic factors.
Demographics
Madison County, Virginia exhibits a balanced gender demographic, leaning slightly female. Educational attainment shows a broad spectrum, with high school graduates forming the largest segment, though a notable portion of the population holds a bachelor's degree or higher, indicating potential for a skilled workforce. Age distribution suggests a significant older population, with those aged 55 and above forming a sizable portion, potentially affecting local services and housing. Racially, the... Read more
Race Distribution in Madison County, Virginia (2022)
Educational Attainment in Madison County, Virginia (2022)
Age Distribution in Madison County, Virginia
Citizen Population in Madison County, Virginia (2022)
Political Trends & Data
Madison County, Virginia, leans heavily conservative, with Republicans receiving around 65% of the votes in the 2020 presidential election, compared to 33% for Democrats. Libertarians and other parties had a minimal impact with just over 1% and less than 1% respectively. This Republican dominance might influence local policies and community priorities, possibly affecting real estate decisions and investment opportunities in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Madison County in Virginia saw majority Republican support in the 2020 U.S. Presidential Election, capturing roughly 65% of the vote, while Democrats garnered about 33%. Libertarians had a minor presence at just over 1%, and other parties combined for less than 1%. This suggests a predominant conservative leaning in the region, potentially shaping local policies and community priorities.
65.17% of voters voted for the Republican party in the 2020 Presidential Election
33.17% of voters voted for the Democrat party in the 2020 Presidential Election
1.30% of voters voted for the Livertarian party in the 2020 Presidential Election
0.36% of voters voted for the Other party in the 2020 Presidential Election
School Data
Madison County, Virginia's student-to-teacher ratio has consistently been below the national average of 14 students per teacher, with figures peaking at 14.75 in 2016 and dipping to 13.46 in 2018. This trend towards smaller class sizes signals a commitment to personalized education, which could be attractive to families and a strong selling point for real estate agents. For investors and appraisers, the steady educational environment suggests a stable local population, possibly implying lower... Read more
Student-to-teacher ratio in Madison County, Virginia over the last 10 years
Madison County, Virginia's student-to-teacher ratio has generally been below the current national average of 14 students per teacher. Over the past decade, the ratio has fluctuated slightly, with a peak of 14.75 in 2016 and a low of 13.46 in 2018. The trend shows a relatively stable but slightly declining ratio in recent years, suggesting potentially smaller class sizes which might appeal to parents prioritizing more personalized education. For investors and real estate agents, this stable educational environment could serve as a strong selling point, reflecting a community focused on maintaining favorable teaching conditions despite changing educational demands. This consistency may also be appealing to appraisers and insurance agents, indicating a stable, engaged local population and potentially lower volatility in property values.
