Nottoway County Real Estate and Livability Trends
Nottoway County, Virginia's median home values reached $169,500 in 2022, significantly lower than the state's $339,800 median, pointing to potential investment opportunities. Rising real estate taxes, from $1,162.70 in 2012 to $1,954.55 in 2021, likely signal appreciating property values. The drop in the student-to-teacher ratio from 16 in 2014 to about 12 in 2023 may enhance community... Read more
Nottoway County Market Trends
Nottoway County, Virginia's median home values soared to $169,500 in 2022, well below the state's $339,800 median, suggesting untapped investment potential. Energy tax credits have seen dramatic fluctuations, peaking at $2,000 in 2018, implying significant energy-efficient home upgrades. Real estate taxes have steadily risen from $1,162.70 in 2012 to $1,954.55 in 2021, possibly indicating... Read more
Median Value of Occupied Housing Units in Nottoway County, Virginia Over the Last 8 Years
Nottoway County, Virginia's median home values have shown upward trends recently, reaching $169,500 in 2022. While this is considerably lower compared to Virginia's median of $339,800 and national median of $179,400, it could present opportunities for investors and homebuyers looking for relatively affordable real estate in the state. This disparity in median value signals potential for growth and investment, potentially making Nottoway County an enticing option for those looking to capitalize on more budget-friendly properties within Virginia.
Residential Energy Tax Credit Per Tax Return in Nottoway County, VA Over the Last 9 Years
Over the past nine years, Nottoway County, Virginia has seen notable fluctuations in average residential energy tax credits per tax return. Starting at $300.00 in 2013 and 2014, the credits modestly increased to $310.00 in 2015 and jumped dramatically by 2018, peaking at $2,000.00. Subsequent years saw some decline, with the values stabilizing around $1,250.00 by 2021. These trends could suggest increased investments in energy-efficient home upgrades, which might appeal to investors, real estate agents, or those considering moving to the area due to potential savings on energy costs.
Average Real Estate Taxes Per Tax Return in Nottoway County, VA Over the Last 10 Years
In Nottoway County, Virginia, average real estate taxes per tax return have shown a consistent upward trend over the past decade. Starting at $1,162.70 in 2012, they've climbed steadily to $1,954.55 by 2021. This trajectory suggests that property values may be appreciating, which could be a critical consideration for property investors and prospective homeowners looking for long-term growth and stability. However, the increasing tax burden might impact affordability and should be carefully weighed by real estate agents, appraisers, and insurance agents working in the area.
Percentage of Farm Returns in Nottoway County, VA Over the Last 10 Years
Over the last decade, Nottoway County, Virginia has seen a slight ebb and flow in the percentage of farm tax returns, mostly fluctuating around the 4-4.5% mark with a noticeable dip to 3.56% in 2020, followed by a mild recovery to 4.13% in 2021. Farm tax returns, which represent the filings by local farmers reporting their income and expenses, can be indicative of the agricultural sector's health and its economic contributions. For potential investors and residents considering agricultural ventures, these figures suggest modest stability with a recent uptick, possibly hinting at a recovering or slightly strengthening agricultural economy.
Number of Mortgages by Occupancy Type in Nottoway County, VA Over the Last 5 Years in Nottoway County
Mortgage trends in Nottoway County, Virginia, indicate that principal residence mortgages have consistently outpaced investment and second residences. In particular, the year 2021 saw a significant uptick, with principal residence mortgages hitting 652, compared to 31 for investment properties and 12 for second residences. Variations in occupancy type can signal shifts in the local real estate market dynamics, potentially impacting property values and investment opportunities. Investors might find the steady yet modest demand for investment properties reassuring, while those planning to move may take comfort in the stability suggested by the high number of principal residence mortgages. Changes in market composition provide critical insights for appraisers, insurance agents, and real estate professionals who need to gauge market health and risk accurately.
Economic Outlook
Nottoway County, Virginia has seen a generally upward trend in average taxable income per tax return, starting at about $40,097.11 in 2013 and peaking at roughly $52,085.31 in 2021. This could suggest a healthier local economy, attractive to investors and those thinking about relocation. The county's state and local income taxes have also risen steadily over the past decade, with a notable spike beginning in 2017 and peaking at $6,329.63 in 2020, indicating economic activity or changes in tax... Read more
Average Taxable Income per Tax Return in Nottoway County, VA over the last 9 years
Nottoway County, Virginia has seen a fluctuating yet generally upward trend in average taxable income per tax return over the last nine years. Starting at approximately $40,097.11 in 2013, the values peaked significantly in 2021 at around $52,085.31. This upward shift, particularly notable in recent years, may imply a healthier, growing local economy which could be appealing to potential investors, real estate agents, and those considering relocation. Despite slight dips at certain intervals, the overall increment suggests promising economic potential and possibly an improved standard of living.
Average State and Local Income Taxes Per Tax Return in Nottoway County, VA Over the Last 10 Years
Nottoway County, Virginia has experienced a steady upward trend in average state and local income taxes per tax return over the past decade, with a notable spike starting in 2017 that peaked at $6,329.63 in 2020. This increase could signal growing economic activity or changes in local tax policies, making it an essential consideration for potential investors and real estate professionals assessing the area’s financial landscape. The fluctuations, particularly the significant rise in 2019 and 2020, may also impact appraisals and insurance costs, reflecting broader economic shifts in the county.
Average Total Tax Liability Per Tax Return in Nottoway County, VA Over the Last 10 Years
In Nottoway County, Virginia, the average total tax liability per tax return has seen a varied yet generally increasing trend over the past decade. It hovered around $5,366.25 in 2013 but climbed to $6,453.90 in 2021. This gradual increase in tax liability may reflect broader economic adjustments, shifting local financial obligations, or changes in personal incomes. For potential investors, homeowners, and real estate professionals, this indicates a growing tax burden which could influence property values and investment returns. Additionally, appraisers and insurance agents may find these trends useful for assessing the financial viability and risk associated with residential and commercial properties in the area.
Cost of Living in Nottoway County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,131 | $1,367 | $1,681 | $938 | $1,027 |
| 1 adult 4 children | $1,131 | $1,117 | $1,284 | $938 | $1,131 |
| 2 adults 3 children | $1,131 | $1,117 | $1,459 | $938 | $845 |
| 1 adult 3 children | $1,131 | $912 | $1,062 | $938 | $872 |
| 2 adults 2 children | $833 | $914 | $1,237 | $820 | $705 |
| 1 adult 2 children | $833 | $683 | $840 | $820 | $644 |
| 2 adults 1 child | $833 | $723 | $1,015 | $436 | $688 |
| 1 adult 1 child | $833 | $467 | $618 | $436 | $602 |
| 2 adults | $688 | $581 | $793 | $0 | $610 |
| 1 adult | $618 | $317 | $396 | $0 | $535 |
Safety trends & Data
Property crime trends in Nottoway County, Virginia, reveal notable shifts over the past five years. Larceny-theft cases surged dramatically from 23 in 2018 to 69 in 2022, while fraud incidents peaked in 2020 with 16 reported cases but have since slightly decreased. Burglary cases generally declined, dropping from 9 in 2018 to 4 in 2020 before experiencing a slight uptick. Arson remained minimal with only one incident in each of 2021 and 2022. These crime patterns could potentially influence... Read more
Property Crime Trends in Nottoway County, VA Over the Last 5 Years
Property crime trends in Nottoway County, Virginia, over the last five years show fluctuating rates with certain categories experiencing notable changes. Larceny-theft cases surged dramatically from 23 in 2018 to 69 in 2022. Fraud incidents reached a peak in 2020 with 16 reported cases but have since slightly decreased. Burglary cases have generally declined, dropping from 9 in 2018 to 4 in 2020 before slightly increasing again in subsequent years. Other categories like arson remained minimal, with only one incident reported in each of 2021 and 2022. These patterns could potentially influence decisions for real estate developments, investment opportunities, and insurance premiums in the county.
Demographics
Nottoway County, Virginia presents a male-dominated adult population, with males constituting a more significant share. The educational landscape is pretty varied; it appears that a notable portion of the population has achieved a high school diploma or some college education without obtaining a degree, while higher education levels such as bachelor’s and graduate degrees are less prevalent. Age distribution shows a balanced spread but with a slight concentration in the 35 to 44 years age... Read more
Race Distribution in Nottoway County, Virginia (2022)
Educational Attainment in Nottoway County, Virginia (2022)
Age Distribution in Nottoway County, Virginia
Citizen Population in Nottoway County, Virginia (2022)
Political Trends & Data
Nottoway County, Virginia, seems to lean conservative based on the 2020 U.S. Presidential Election, with Republicans capturing roughly 57% of the votes. Democrats garnered around 42%, suggesting notable political diversity. Third-party candidates, including Libertarians, had a minimal impact at just over 1%, with Green Party and other minor candidates barely registering. This political landscape could potentially influence real estate trends, impacting everything from property valuations to... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Nottoway County, Virginia, the 2020 U.S. Presidential Election results indicate that Republicans might have held a majority with approximately 57% of the vote, while Democrats appeared to have secured around 42%. The presence of third-party candidates such as Libertarians was minimal, likely totaling just over 1%, and Green Party and other minor candidates hardly made a dent in the overall tally. These figures suggest that Nottoway may lean predominantly conservative, though the substantial Democratic vote share could imply some level of political diversity in the county.
56.89% of voters voted for the Republican party in the 2020 Presidential Election
41.98% of voters voted for the Democrat party in the 2020 Presidential Election
1.02% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Nottoway County, Virginia has experienced a decline in its student-to-teacher ratio, dropping from 16 students per teacher in 2014 to around 12 in 2023. This adjustment now places the county below the national average of 14 students per teacher. This trend may signal improving educational conditions, potentially boosting property values and community desirability. These changes might indicate a more stable investment in real estate, enhancing the area's appeal for... Read more
Student-to-teacher ratio in Nottoway County, Virginia over the last 10 years
Over the past decade, Nottoway County, Virginia has seen a noticeable decline in its student-to-teacher ratio, dropping from 16 students per teacher in 2014 to approximately 12 in 2023. This steady reduction brings the county's ratio below the current national average of 14 students per teacher. For prospective investors, real estate agents, and those looking to move to the area, this shift may indicate improving educational conditions, which can enhance property values and community appeal. For appraisers and insurance agents, these changes suggest a potentially more stable investment in real estate, considering the desirability of areas with strong educational systems.
