New Kent County Real Estate and Livability Trends
In New Kent County, Virginia, property values have seen a notable upward trajectory, with median home values jumping from $245,000 in 2015 to $354,200 in 2022, outpacing both state and national growth rates. Economic growth is suggested by the surge in average taxable income per tax return from $73,553.38 in 2013 to $137,083.21 in 2021 and increasing state and local income taxes, which might... Read more
New Kent County Market Trends
New Kent County, Virginia has experienced a significant rise in median home values, jumping from $245,000 in 2015 to $354,200 in 2022, outpacing both state and national growth rates. Additionally, fluctuations in the average residential energy tax credit, with a peak of $4,375.00 in 2018, suggest robust investments in energy-efficient upgrades. Real estate taxes have nearly doubled over the last... Read more
Median Value of Occupied Housing Units in New Kent County, Virginia Over the Last 8 Years
New Kent County, Virginia has seen a consistent rise in median home values over the past eight years, with values jumping from $245,000 in 2015 to $354,200 in 2022. This upward trend surpasses both state and national growth rates, with Virginia's median home value rising from $245,000 to $339,800 over the same period, and national values increasing from $125,500 to $179,400. This indicates a potentially lucrative investment environment and growing desirability for those looking to move or build property in New Kent County.
Residential Energy Tax Credit Per Tax Return in New Kent County, VA Over the Last 9 Years
In New Kent County, Virginia, the average residential energy tax credit per tax return has shown significant fluctuations over the past nine years. From a modest $413.33 in 2013, the credit hit a notable peak of $4,375.00 in 2018, suggesting strong efforts in residential energy upgrades. Despite a drop to $1,309.52 in 2019, the figures have stabilized to around $1,836.00 in 2020 and $1,869.23 in 2021. These trends likely indicate increasing investments in energy-efficient home improvements, which could be crucial for those contemplating real estate ventures or property development in the area.
Average Real Estate Taxes Per Tax Return in New Kent County, VA Over the Last 10 Years
New Kent County, Virginia has seen a notable increase in average real estate taxes per tax return over the last decade, rising from approximately $2,417 in 2012 to around $4,339 by 2021. This increment might suggest a growth in property values and potential increased funding for local infrastructure and services, making it an interesting target for investors and insurers. Real estate agents might highlight these trends to prospective buyers who are interested in the appreciating property market, while appraisers can use this data to gauge property value changes over time.
Percentage of Farm Returns in New Kent County, VA Over the Last 10 Years
In New Kent County, Virginia, farm tax returns have shown a generally decreasing trend over the last decade, moving from approximately 0.96% in 2012 to about 0.78% in 2021. These returns, representing income from agricultural activities, indicate how much local revenue comes from farming. This might suggest shifts in the county's economic focus or challenges in the agricultural sector. For potential investors or those looking to move in, it's worth noting that a declining percentage could signal opportunities for investment in revitalizing agriculture or indicate that the local economy might be diversifying into other sectors.
Number of Mortgages by Occupancy Type in New Kent County, VA Over the Last 5 Years in New Kent County
The data shows that the number of mortgages for principal residences in New Kent County, Virginia, has seen a noticeable increase from 2018 to 2021, peaking in 2021 before dropping in 2022. Mortgages for second residences and investment properties have remained relatively stable but low in comparison. These shifts in occupancy type could signal changing demographics and housing demands, impacting property values and development opportunities. Investors might see emerging patterns, such as increased competition for primary homes, while appraisers and insurance agents could adjust valuations and risk assessments based on these trends. Real estate agents would need to adjust their strategies to align with the primary demand for principal residences.
Economic Outlook
In New Kent County, Virginia, average taxable income per tax return has surged from $73,553.38 in 2013 to $137,083.21 in 2021, hinting at economic growth and possibly rising property values, which might intrigue investors and real estate professionals. Concurrently, state and local income taxes have spiked, with the average climbing from $5,526.60 in 2012 to $21,576.88 in 2021, significantly influencing the cost of living. Additionally, the average total tax liability nearly tripled from... Read more
Average Taxable Income per Tax Return in New Kent County, VA over the last 9 years
In New Kent County, Virginia, the average taxable income per tax return has generally shown an upward trajectory over the past nine years. Starting at $73,553.38 in 2013, it rises steadily to $137,083.21 by 2021. This could suggest economic growth and potentially increasing property values, which might be appealing to investors, real estate agents, and those contemplating a move to the area. For insurance agents and appraisers, these fiscal trends may impact risk assessments and property valuations.
Average State and Local Income Taxes Per Tax Return in New Kent County, VA Over the Last 10 Years
New Kent County, Virginia has seen a significant rise in average state and local income taxes per tax return over the past decade. Starting at $5,526.60 in 2012, there was a steady increase each year, with notable surges in 2018 and 2020 when the average taxes reached $13,731.15 and $18,165.87, respectively. By 2021, this figure had escalated to $21,576.88. This trend is likely to impact housing markets, local investments, and cost of living considerations for those looking to relocate or invest in the area.
Average Total Tax Liability Per Tax Return in New Kent County, VA Over the Last 10 Years
Over the past decade, New Kent County, Virginia has seen a notable upward trend in average total tax liability per tax return. In 2012, the average liability stood at approximately $11,127.09, but by 2021, this figure had nearly tripled to around $30,609.20. This consistent increase could potentially signal a growing local economy and rising property values, which may be of particular interest to investors, real estate agents, and potential residents looking to understand the long-term financial landscape. This data might also be crucial for appraisers and insurance agents when assessing risk and determining policy costs.
Cost of Living in New Kent County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,576 | $1,520 | $1,575 | $1,673 | $1,688 |
| 1 adult 4 children | $1,576 | $1,241 | $1,202 | $1,673 | $1,861 |
| 2 adults 3 children | $1,576 | $1,242 | $1,368 | $1,673 | $1,442 |
| 1 adult 3 children | $1,576 | $1,014 | $994 | $1,673 | $1,594 |
| 2 adults 2 children | $1,219 | $1,017 | $1,161 | $1,461 | $1,122 |
| 1 adult 2 children | $1,219 | $759 | $787 | $1,461 | $1,211 |
| 2 adults 1 child | $1,219 | $803 | $954 | $769 | $1,008 |
| 1 adult 1 child | $1,219 | $519 | $580 | $769 | $924 |
| 2 adults | $1,079 | $645 | $747 | $0 | $827 |
| 1 adult | $1,056 | $352 | $373 | $0 | $737 |
Safety trends & Data
Property crime in New Kent County, Virginia, shows varied patterns yet some consistent trends over the past five years. Larceny-theft, while the most frequent, decreased from 25 incidents in 2018 to 11 in 2022. Vandalism spiked significantly in 2020 with 36 arrests, an outlier compared to other years. Embezzlement peaked at 6 incidents in 2020 but dropped to just 1 by 2022. Frauds and forgeries have been variable, with fraud notably increasing to 15 incidents in 2019. Understanding these trends... Read more
Property Crime Trends in New Kent County, VA Over the Last 5 Years
Property crime in New Kent County, Virginia, shows fluctuating patterns but some consistent trends over the past five years. Larceny-theft generally remains the most frequent property crime but has seen a gradual decrease from 25 incidents in 2018 to 11 in 2022. Vandalism saw a significant spike in 2020 with 36 arrests, a notable outlier compared to other years. Embezzlement, typically low in occurrence, peaked at 6 incidents in 2020 but dropped to just 1 by 2022. Frauds and forgeries exhibit variability, though fraud notably increased to 15 incidents in 2019 before varying each year. Overall, for anyone looking to invest, move, or build property in the area, understanding these property crime trends offers critical insight into community safety.
Demographics
New Kent County, Virginia, shows a fairly balanced gender distribution with nearly equal numbers of males (9,485) and females (8,932). The county's educational attainment suggests a focus on higher education, with a significant portion holding at least a high school diploma, and many advancing to a college degree. The age distribution reveals a notable concentration of residents in the 35 to 64-year range, which might indicate a stable working-age population. Racially, the county is... Read more
Race Distribution in New Kent County, Virginia (2022)
Educational Attainment in New Kent County, Virginia (2022)
Age Distribution in New Kent County, Virginia
Citizen Population in New Kent County, Virginia (2022)
Political Trends & Data
New Kent County, Virginia, leans heavily Republican, which could influence local real estate trends. Buyers looking for properties in politically conservative areas may find the county appealing. The area's strong conservative leanings might also shape community policies and local governance, potentially affecting property values and development... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
New Kent County, Virginia, exhibited a strong inclination towards the Republican party in the 2020 U.S. Presidential Election, with around 66% of the votes. The Democratic party garnered roughly 32%, while minor parties like the Libertarian and others collectively captured a minimal share of the votes. This might suggest that New Kent is a predominantly conservative area with limited support for third-party candidates.
66.55% of voters voted for the Republican party in the 2020 Presidential Election
31.93% of voters voted for the Democrat party in the 2020 Presidential Election
1.19% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Other party in the 2020 Presidential Election
School Data
In New Kent County, Virginia, the student-to-teacher ratio has oscillated around the national average of fourteen students per teacher over the past decade. It peaked at nearly 16 students per teacher in 2019 but has recently settled back closer to fourteen. These shifts might influence families considering a move to the area, affecting perceptions of classroom dynamics and educational quality. Realtors and investors may also consider these trends significant for property development or... Read more
Student-to-teacher ratio in New Kent County, Virginia over the last 10 years
In New Kent County, Virginia, the student-to-teacher ratio has shown some fluctuation over the past decade, with values oscillating around the national average of fourteen students per teacher. From a peak of almost 16 students in 2019, the ratio has recently settled back closer to fourteen, matching or slightly exceeding national figures. These shifts could be relevant for families considering moving to New Kent County, as they affect classroom dynamics and potentially the quality of education. Investors and real estate agents could also find these trends significant when making decisions about property developments or marketing homes, knowing that the county’s school system may be perceived as being comparable or slightly larger than average in class size.
