Nelson County Real Estate and Livability Trends
Nelson County, Virginia has experienced an impressive surge in average taxable income, jumping from $56,908.45 in 2013 to $88,967.53 by 2021. This economic uptick has paralleled a doubling of average state and local income taxes, potentially influencing cost of living and community investments. Real estate taxes have also risen, reflecting higher property values. Notably, median home values have... Read more
Nelson County Market Trends
Nelson County, Virginia has seen median home values fluctuate between $212,000 and $275,100 over the past eight years, with a notable spike to $275,100 in 2022. While the state's median home values have risen more sharply to $339,800, Nelson County's steadier growth suggests unique local dynamics. The average residential energy tax credit per tax return has generally increased, peaking at... Read more
Median Value of Occupied Housing Units in Nelson County, Virginia Over the Last 8 Years
Nelson County, Virginia has experienced interesting shifts in median home values over the last eight years. While values fluctuated between highs and lows within the $212,000 to $275,100 range, the recent spike to $275,100 in 2022 is particularly telling. When compared to Virginia's overall increasing trend, with values rising from $245,000 in 2015 to $339,800 in 2022, Nelson County's market seems relatively stable but slower in growth. On a national level, where the median value jumped from $125,500 in 2015 to $179,400 in 2022, Nelson County's higher values and steadier pace suggest unique underlying factors that potential investors and homebuyers may find appealing.
Residential Energy Tax Credit Per Tax Return in Nelson County, VA Over the Last 9 Years
Nelson County, Virginia has seen a fluctuating yet generally increasing trend in the average residential energy tax credit per tax return over the past nine years. Notably, significant spikes appeared in 2014, 2018, and 2021, with credits reaching up to $3,866.67 in 2018. This could imply growing investments in energy-efficient home improvements, presenting potential opportunities for investors, real estate agents, and homeowners interested in energy-saving initiatives. Such a pattern might also be beneficial for appraisers and insurance agents evaluating the long-term value and sustainability of residential properties in the county.
Average Real Estate Taxes Per Tax Return in Nelson County, VA Over the Last 10 Years
Real estate taxes in Nelson County, Virginia have trended upward over the past decade, reflecting increased property values or tax rates. From $2,536.59 in 2012 to $3,983.02 in 2021, most notably, there's a significant jump between 2017 and 2019, where taxes rose from $2,948.45 to $3,882.61. This suggests accelerated development or assessment reevaluations that could impact potential buyers, investors, appraisers, and real estate agents. Those looking to build or invest should be aware of this upward trend in property costs reflected in tax rates.
Percentage of Farm Returns in Nelson County, VA Over the Last 10 Years
Over the last decade, Nelson County, Virginia has seen a fluctuating trend in farm tax returns, generally hovering around 3.5% to 4.0%. A peak was observed in 2015 at 4.00%, but a noticeable drop occurred in 2017, aligning with a broader downturn that settled around 3.28% in 2020 before a slight recovery to 3.50% in 2021. These numbers suggest potential volatility in agricultural revenues or shifts in the farming landscape, which could be a factor for investors, new residents, or developers considering the area. Farm tax returns can provide insights into the health of the agricultural sector in a region. They represent tax filings from farmers and agricultural businesses, reflecting both income levels and the number of active farming operations. A higher percentage might indicate a robust farming economy with potential for agribusiness growth, whereas a lower percentage might suggest economic challenges or a decline in farming activity.
Number of Mortgages by Occupancy Type in Nelson County, VA Over the Last 5 Years in Nelson County
In Nelson County, Virginia, the number of mortgages varies significantly by occupancy type. Principal residences consistently dominate mortgages, peaking in 2021 with 1,069, while second residences and investment properties show more volatility. The sharp rise in mortgages for investment properties in 2022 could hint at growing investor interest, possibly driven by changes in market conditions or local amenities. For anyone keen on the real estate market, these trends shed light on the demand and priorities among buyers, influencing property values, insurance risks, and overall market health.
Economic Outlook
Nelson County, Virginia has seen average taxable income per tax return surge from $56,908.45 in 2013 to $88,967.53 by 2021, hinting at economic growth and rising affluence. Average state and local income taxes per tax return have more than doubled from $5,321.99 in 2012 to $12,938.89 in 2021, potentially impacting cost of living and community investment. Additionally, the total tax liability per tax return has increased from $8,494.17 in 2012 to $14,851.32 in 2021, possibly reflecting higher... Read more
Average Taxable Income per Tax Return in Nelson County, VA over the last 9 years
Nelson County, Virginia has seen a substantial rise in average taxable income per tax return over the past nine years, climbing from $56,908.45 in 2013 to $88,967.53 in 2021. This upward trend may signal economic growth and increasing affluence in the area, potentially making it an attractive location for investors, potential homebuyers, and real estate developers. For appraisers and insurance agents, this could indicate a higher market value and associated risks. For those interested in or currently living in Nelson County, this trend suggests a shifting economic landscape that could impact cost of living and community investment.
Average State and Local Income Taxes Per Tax Return in Nelson County, VA Over the Last 10 Years
Over the past decade, Nelson County, Virginia has seen a considerable increase in average state and local income taxes per tax return. Starting at around $5,321.99 in 2012, this figure has consistently risen, reaching approximately $12,938.89 by 2021. Such a steady climb in tax costs could signal a growing economy and changes in local policies, which might be crucial for investors and prospective residents to take into account. This trend is likely relevant for real estate agents, property appraisers, and insurance agents as they assess the financial landscape and advise clients accordingly.
Average Total Tax Liability Per Tax Return in Nelson County, VA Over the Last 10 Years
Nelson County, Virginia, has seen a noticeable upward trend in the average total tax liability per tax return over the past decade. Starting at $8,494.17 in 2012 and steadily increasing to $14,851.32 by 2021, this growth could reflect a variety of economic factors, including rising property values, higher income levels, or changes in tax legislation. For potential investors, home buyers, and real estate agents, this data might suggest a growing and potentially more affluent community. Appraisers and insurance agents may also find these trends useful for evaluating property values and associated risks, given the increasing financial stakes for residents.
Cost of Living in Nelson County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,138 | $1,440 | $1,626 | $1,656 | $1,431 |
| 1 adult 4 children | $1,138 | $1,176 | $1,241 | $1,656 | $1,596 |
| 2 adults 3 children | $1,138 | $1,176 | $1,412 | $1,656 | $1,199 |
| 1 adult 3 children | $1,138 | $960 | $1,027 | $1,656 | $1,345 |
| 2 adults 2 children | $915 | $963 | $1,198 | $1,435 | $1,013 |
| 1 adult 2 children | $915 | $719 | $813 | $1,435 | $1,018 |
| 2 adults 1 child | $915 | $761 | $984 | $717 | $872 |
| 1 adult 1 child | $915 | $492 | $599 | $717 | $770 |
| 2 adults | $765 | $611 | $770 | $0 | $699 |
| 1 adult | $761 | $333 | $385 | $0 | $613 |
Safety trends & Data
Property crime in Nelson County, Virginia has seen significant shifts over the past five years. Larceny-theft peaked in 2021 with 19 incidents but decreased to 15 in 2022. Burglary spiked dramatically in 2021 with 12 incidents but fell to 2 by 2022. Motor vehicle theft remained relatively consistent, fluctuating between 3 to 7 incidents annually. Fraud was a consistent concern, particularly with 8 incidents in 2021. These trends could influence real estate valuations, insurance premiums, and... Read more
Property Crime Trends in Nelson County, VA Over the Last 5 Years
Property crime trends in Nelson County, Virginia have experienced significant fluctuations over the past five years. Notably, larceny-theft events peaked in 2021 with 19 recorded incidents but saw a reduction to 15 incidents in 2022. Burglary saw a dramatic spike in 2021, reaching 12 incidents before dropping to just 2 in 2022. Motor vehicle theft was relatively stable, ranging from 3 to 7 incidents annually. Fraud remained a consistent concern, particularly marked by 8 incidents in 2021. Such data might suggest a variable risk environment, which could influence real estate valuations, insurance premiums, and investment decisions in the area.
Demographics
Nelson County, Virginia exhibits a slightly higher female population than male, with an adult demographic leaning towards older age groups, particularly those 55 years and older. Educationally, many residents have completed high school, but there is also a notable percentage with bachelor’s and graduate degrees. The racial composition is predominantly White, followed distantly by Black or African American residents. These trends suggest a community that could be both aging and relatively... Read more
Race Distribution in Nelson County, Virginia (2022)
Educational Attainment in Nelson County, Virginia (2022)
Age Distribution in Nelson County, Virginia
Citizen Population in Nelson County, Virginia (2022)
Political Trends & Data
Nelson County, Virginia, shows a competitive political climate, with the 2020 U.S. Presidential Election results indicating that the Republican party garnered around 51.6% of the vote and Democrats close behind at approximately 46.4%. Libertarians captured about 1.6%, hinting at some ideological diversity. This competitive political environment could influence local policy decisions and community investments, impacting the real estate dynamics in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Nelson County, Virginia, likely leaned Republican in the 2020 U.S. Presidential Election, with the GOP capturing around 51.6% of the vote. Democrats trailed closely with approximately 46.4%, while Libertarians secured about 1.6%. Other parties barely made a dent, receiving minimal vote shares. This distribution suggests a relatively competitive political landscape in the county.
51.64% of voters voted for the Republican party in the 2020 Presidential Election
46.44% of voters voted for the Democrat party in the 2020 Presidential Election
1.61% of voters voted for the Livertarian party in the 2020 Presidential Election
0.31% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Nelson County, Virginia has seen its student-to-teacher ratio decline from nearly 14 students per teacher in 2014 to around 12 in 2023, hinting at a focus on smaller class sizes and potentially better individual student attention. For prospective residents, investors, and real estate agents, this could signify a strong emphasis on education quality, a potential selling point. Appraisers and insurance agents might also consider these improvements as factors that can... Read more
Student-to-teacher ratio in Nelson County, Virginia over the last 10 years
Over the past decade, Nelson County, Virginia has seen a gradual decline in the student-to-teacher ratio, dropping from nearly 14 students per teacher in 2014 to around 12 in 2023. This trend suggests a focus on reducing class sizes and potentially improving individual student attention compared to the US national average of 14 students per teacher. For prospective residents, investors, and real estate agents, this can indicate a strong emphasis on education quality, which might be a key selling point. Moreover, appraisers and insurance agents might view these improvements as factors that can positively influence property values and community development initiatives.
