Montgomery County Real Estate and Livability Trends
Montgomery County, Virginia, has seen a significant rise in median home values, from $205,100 in 2015 to $269,300 in 2022, suggesting a strong local economy. Residential energy tax credits peaked at $3,650.00 in 2018, hinting at a growing focus on energy efficiency that may impact property values. Real estate taxes have also climbed, with a notable increase from $2,726.47 in 2012 to $4,511.76 in... Read more
Montgomery County Market Trends
Montgomery County, Virginia's median home values have surged from $205,100 in 2015 to $269,300 in 2022, outpacing the national trend but still lagging behind the state's growth. This rapid appreciation hints at a strong local economy and attractive living conditions. Over the years, there's been a notable increase in residential energy tax credits, peaking at $3,650.00 in 2018, indicating a... Read more
Median Value of Occupied Housing Units in Montgomery County, Virginia Over the Last 8 Years
Montgomery County, Virginia has seen a sharp increase in median home values over the last eight years, rising from $205,100 in 2015 to $269,300 in 2022. This local trend outpaces not only the nationwide growth, where values climbed from $125,500 to $179,400 in the same period, but also lags behind the state of Virginia's increase from $245,000 to $339,800. Potential investors and homebuyers might find this area appealing given its rapid appreciation, potentially signalling a robust local economy and desirable living conditions.
Residential Energy Tax Credit Per Tax Return in Montgomery County, VA Over the Last 9 Years
Over the last nine years, Montgomery County, Virginia has seen significant fluctuations in the average residential energy tax credit per tax return, peaking at $3,650.00 in 2018. This spike suggests occasional, perhaps sporadic, investments in energy-efficient upgrades or large-scale adoption of renewable energy solutions. A notable trend is the general increase in tax credits from 2013's $385.71 to 2021's $1,602.50, which may hint at progressively increasing incentives or growing homeowner interest in energy efficiency. For investors, real estate agents, and builders, these changes could signal a community increasingly focused on sustainability, potentially affecting property values and desirability.
Average Real Estate Taxes Per Tax Return in Montgomery County, VA Over the Last 10 Years
Real estate taxes per tax return in Montgomery County, Virginia, have shown a noticeable upward trend over the past decade, rising from $2,726.47 in 2012 to $4,511.76 in 2021. The most significant increases occurred in 2018 and 2019, with marked jumps in average taxes paid. This increase could impact property affordability, attractiveness for new residents, and investment value. For those appraising or insuring properties, the trend suggests a growing financial commitment, while prospective buyers or investors might need to account for rising tax obligations in their financial planning. Real estate agents should highlight this trend when advising clients on long-term investments in the area.
Percentage of Farm Returns in Montgomery County, VA Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Montgomery County, Virginia has seen a slight but steady decline from approximately 1.74% in 2012 to about 1.45% in 2021. Farm tax returns reflect the number of residents reporting income from agricultural activities such as crop production, livestock, and other farm-related ventures. This trend may indicate a gradual shift in the local economy away from traditional farming or changes in agricultural profitability. For potential investors, developers, or anyone considering moving to Montgomery County, this might suggest looking into diversified opportunities beyond agriculture or supporting initiatives that can bolster the local farming community.
Number of Mortgages by Occupancy Type in Montgomery County, VA Over the Last 5 Years in Montgomery County
Investment property mortgages in Montgomery County, Virginia, have shown minimal fluctuation over the past five years, peaking slightly in 2021. Principal residence mortgages appear to have spiked in 2020, reflecting possibly heightened home-buying activity or favorable mortgage terms during that period, but then saw a significant dip in 2022. Second residences have consistently held the smallest share, with no dramatic changes. Understanding these trends can be crucial for investors, appraisers, and real estate agents to gauge market stability and demand. Variations in occupancy type can impact housing prices, rental market dynamics, and even insurance premiums, influencing decisions on where to buy, sell, or insure property.
Economic Outlook
In Montgomery County, Virginia, the average taxable income per tax return has generally increased over the past nine years, rising from around $57,178.93 in 2013 to approximately $86,926.39 in 2021, with some fluctuations such as a dip in 2020. This trend suggests improving economic conditions and a potentially attractive market for investors and homebuyers. Additionally, state and local income taxes have more than doubled, from roughly $5,627.51 in 2012 to about $15,890.61 in 2021, reflecting... Read more
Average Taxable Income per Tax Return in Montgomery County, VA over the last 9 years
In Montgomery County, Virginia, the average taxable income per tax return has shown a general upward trend over the last nine years, starting at approximately $57,178.93 in 2013 and reaching around $86,926.39 in 2021. Notably, there was a peak in 2019 at $79,683.23, followed by a slight dip in 2020 to $72,239.21, before rising again in 2021. This increasing trend may suggest that the economic conditions and job market within the county are improving, making it an appealing option for potential investors and homebuyers. However, the fluctuations, especially the dip in 2020, might indicate some economic instability, which could be worth investigating further for a comprehensive risk assessment.
Average State and Local Income Taxes Per Tax Return in Montgomery County, VA Over the Last 10 Years
Over the past decade, the average state and local income taxes per tax return in Montgomery County, Virginia have seen a sharp upward trend. Starting at around $5,627.51 in 2012, the average rose steadily and more than doubled by 2021, reaching approximately $15,890.61. This significant increase suggests a rising fiscal responsibility for residents, a factor that potential investors, real estate agents, and those considering moving to the county should keep in mind when making financial plans and projections.
Average Total Tax Liability Per Tax Return in Montgomery County, VA Over the Last 10 Years
Over the past decade, Montgomery County, Virginia has seen an overall upward trend in total tax liability per tax return, rising from $8,600.27 in 2012 to $14,867.57 in 2021. Significant jumps occurred in 2017 and 2019, suggesting potential changes in local economic conditions or tax policies. This increasing trend could indicate a growing local economy but also potentially higher living costs, factors that investors, residents, and real estate professionals should carefully consider.
Cost of Living in Montgomery County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,518 | $1,552 | $1,702 | $1,977 | $1,716 |
| 1 adult 4 children | $1,518 | $1,268 | $1,300 | $1,977 | $1,841 |
| 2 adults 3 children | $1,518 | $1,268 | $1,478 | $1,977 | $1,436 |
| 1 adult 3 children | $1,518 | $1,035 | $1,076 | $1,977 | $1,600 |
| 2 adults 2 children | $1,086 | $1,038 | $1,254 | $1,717 | $1,093 |
| 1 adult 2 children | $1,086 | $775 | $851 | $1,717 | $1,152 |
| 2 adults 1 child | $1,086 | $820 | $1,029 | $871 | $936 |
| 1 adult 1 child | $1,086 | $530 | $627 | $871 | $829 |
| 2 adults | $889 | $659 | $805 | $0 | $709 |
| 1 adult | $855 | $360 | $402 | $0 | $609 |
Safety trends & Data
In Montgomery County, Virginia, the past five years of property crime data reveal significant trends for potential property investors and insurers to consider. Larceny-Theft has been the most frequent, peaking at 306.0 incidents in 2021 before dropping to 183.0 in 2022. Burglary and Vandalism also remained noteworthy despite their ups and downs. Fraud saw a sharp decline from 73.0 cases in 2019 to 28.0 in 2022, while Arson, although low, experienced a slight increase recently. These patterns... Read more
Property Crime Trends in Montgomery County, VA Over the Last 5 Years
Over the past five years in Montgomery County, Virginia, Larceny-Theft consistently saw the highest number of incidents, peaking at 306.0 cases in 2021 before decreasing to 183.0 in 2022. Burglary and Vandalism also exhibited noticeable frequencies, with annual fluctuations but generally remaining significant. Fraud and Forgery incidents varied more, with fraud seeing a decline from 73.0 in 2019 to 28.0 in 2022. Arson remained relatively low but saw a slight increase in the most recent data. These trends highlight potential areas of concern for property investors, insurers, and residents, suggesting varying needs for security measures and risk assessment through time.
Demographics
Montgomery County, Virginia has a near-balanced gender ratio with slightly more males than females in 2022. Educational attainment shows a notably high percentage of the population with graduate or professional degrees, outpacing those with only a high school diploma. The age distribution points to a significant youth and young adult presence, particularly those aged 20-24, likely influenced by the local university. Racial demographics reveal a predominantly White community, with Asian and... Read more
Race Distribution in Montgomery County, Virginia (2022)
Educational Attainment in Montgomery County, Virginia (2022)
Age Distribution in Montgomery County, Virginia
Citizen Population in Montgomery County, Virginia (2022)
Political Trends & Data
Montgomery County, Virginia, shows a predominantly two-party political landscape with the Democratic party enjoying a slight majority in the recent presidential election, and the Republican party closely tailing. The Libertarian party managed to capture just over 2% of the votes, while other parties barely made an impact. This competitive environment between the Democrats and Republicans could subtly influence local real estate trends, although minor parties appear to have little... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Montgomery County in Virginia saw a notable preference for the Democratic party with a slight majority of votes, while the Republican party followed closely behind. The Libertarian party had minimal impact, capturing just over 2% of the votes, and other parties, including the Green party, barely registered. This may suggest a competitive political landscape primarily dominated by the two major parties, with minor parties struggling to gain traction.
45.80% of voters voted for the Republican party in the 2020 Presidential Election
51.55% of voters voted for the Democrat party in the 2020 Presidential Election
2.09% of voters voted for the Livertarian party in the 2020 Presidential Election
0.55% of voters voted for the Other party in the 2020 Presidential Election
School Data
Montgomery County, Virginia's student-to-teacher ratio has ranged from 11 to 14 students per teacher, typically below the national average of 14. This trend might attract families prioritizing individualized attention in education, making the area more appealing. Lower ratios could signal better educational outcomes, potentially driving higher demand for housing and providing a valuable insight for investors and real estate... Read more
Student-to-teacher ratio in Montgomery County, Virginia over the last 10 years
Montgomery County, Virginia has seen its student-to-teacher ratio fluctuate over the past decade, ranging from a low of 11 students per teacher in 2021 to a high of 14 students per teacher in 2018. Generally, these ratios are slightly below the US national average of 14 students per teacher, suggesting smaller class sizes which might appeal to prospective residents valuing more individualized attention in education. Investors, real estate agents, and those considering moving to Montgomery County should note that lower student-to-teacher ratios can be a significant selling point for families, indicating potentially better educational outcomes and higher demand for housing in the region.
