Powhatan County Real Estate and Livability Trends
Powhatan County, Virginia, has seen a significant rise in average taxable income, climbing from $71,526.45 in 2013 to $104,922.44 by 2021, indicating potential economic growth. Median home values have also surged to $356,500 in 2022, outpacing state and national trends, while real estate taxes have increased from $2,920 in 2012 to over $4,238 by 2021, suggesting expanding fiscal resources. The... Read more
Powhatan County Market Trends
Powhatan County, Virginia has witnessed a substantial climb in median home values, reaching $356,500 in 2022 from $257,300 in 2015, outpacing both state and national trends. Residential energy tax credits peaked dramatically in 2018 at around $4,033.33, stabilizing at roughly $2,011.54 by 2021, hinting at a burgeoning focus on energy-efficient homes. Real estate taxes have also risen, climbing... Read more
Median Value of Occupied Housing Units in Powhatan County, Virginia Over the Last 8 Years
Powhatan County, Virginia has seen a steady rise in median home values over the last eight years, with a significant jump to $356,500 in 2022 from $257,300 in 2015. This outpaces both the state of Virginia, which saw median home values increase to $339,800 in 2022, and the national median of $179,400. Investors and homebuyers might find Powhatan County particularly appealing due to its robust market growth compared to broader trends.
Residential Energy Tax Credit Per Tax Return in Powhatan County, VA Over the Last 9 Years
Over the past nine years, Powhatan County, Virginia, has seen significant fluctuations in residential energy tax credits per tax return, peaking dramatically at around $4,033.33 in 2018 before stabilizing at a lower but still substantial amount of about $2,011.54 in 2021. This surge and subsequent stabilization indicate periods of increased investment in energy efficiency, likely influenced by policy changes or market incentives. For investors, builders, and real estate professionals, these figures suggest a growing emphasis on energy-efficient homes, which could impact property values and insurance considerations.
Average Real Estate Taxes Per Tax Return in Powhatan County, VA Over the Last 10 Years
Real estate taxes per tax return in Powhatan County, Virginia have shown a steady upward trend over the last decade, starting at around $2,920 in 2012 and gradually increasing to over $4,238 by 2021. A particularly noticeable jump occurred between 2017 and 2018, where the values rose by more than $600. This could be a key indicator for potential investors and homebuyers and likely points to either increasing property values or changes in local tax policies. This trend is crucial for real estate agents and appraisers to consider for accurate market assessments and for insurance agents ensuring their premiums are aligned with the changing property valuations.
Percentage of Farm Returns in Powhatan County, VA Over the Last 10 Years
Farm tax returns in Powhatan County, Virginia have fluctuated slightly over the past decade, generally hovering around 1.5%-1.7%. These returns peaked at approximately 1.70% in 2014, but saw a decline to around 1.36% in 2020, with a modest recovery to 1.45% by 2021. This trend could suggest either a stabilization of farm-related activities or a shift towards other forms of income generation. For those looking to invest or build properties in Powhatan County, the relatively stable yet slightly declining farm tax returns signal a diverse economic base that isn't overly reliant on agriculture.
Number of Mortgages by Occupancy Type in Powhatan County, VA Over the Last 5 Years in Powhatan County
Powhatan County, Virginia has seen a notable consistency in principal residence mortgages over the last five years, peaking in 2021. Investment properties and second residences have remained relatively low and stable. These trends suggest that the area is predominantly attracting long-term residents rather than investors or secondary homeowners. For investors, this could imply a less competitive market with potentially untapped opportunities. For those considering moving to the area, the data might indicate a stable community environment with strong primary home ownership. Appraisers, insurance agents, and real estate developers can leverage this information to better understand market dynamics, set accurate values, and strategize future projects.
Economic Outlook
Powhatan County, Virginia has experienced a noteworthy rise in average taxable income per tax return, moving from around $71,526.45 in 2013 to $104,922.44 by 2021, indicating potential economic growth and enhanced living standards. State and local income taxes have similarly increased, reaching $11,349.18 in 2021, up from $5,510.87 in 2012, hinting at a higher-income local economy. Despite some fluctuations, total tax liabilities per return have also risen, suggesting either economic vitality... Read more
Average Taxable Income per Tax Return in Powhatan County, VA over the last 9 years
Powhatan County, Virginia has seen a general upward trend in average taxable income per tax return over the past nine years. Starting at approximately $71,526.45 in 2013, the average rose to $104,922.44 by 2021. This steady increase, with minor fluctuations, could suggest positive economic growth and potentially higher living standards, making it an attractive location for prospective homebuyers, real estate investors, and financial professionals. The noticeable dip in 2020 followed by a significant rise in 2021 might indicate resilience in the county's economic landscape post-pandemic.
Average State and Local Income Taxes Per Tax Return in Powhatan County, VA Over the Last 10 Years
Over the last decade, Powhatan County, Virginia, has shown a notable increase in average state and local income taxes per tax return. From $5,510.87 in 2012, the figure rose steadily, peaking dramatically in 2019 at $11,608.97 before stabilizing around $11,349.18 in 2021. This upward trend could reflect economic growth, demographic shifts, or policy changes impacting tax liabilities in the region. Potential investors and property developers might find this data indicative of a robust and possibly higher-income local economy, worth considering for future ventures.
Average Total Tax Liability Per Tax Return in Powhatan County, VA Over the Last 10 Years
Powhatan County, Virginia has observed fluctuating but generally increasing average total tax liabilities per tax return over the past decade. For instance, in 2012, the average liability was approximately $11,112.60, gradually rising to $17,491.89 by 2021. Key jumps include 2019, where there was a notable increase to $16,528.76 before a slight dip in 2020 and then another rise in 2021. This upward trend may suggest a growing economic vitality or changes in taxation policies, impacting potential residents, investors, and stakeholders interested in the county's fiscal environment.
Cost of Living in Powhatan County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,594 | $1,412 | $1,575 | $1,725 | $1,666 |
| 1 adult 4 children | $1,594 | $1,153 | $1,202 | $1,725 | $1,850 |
| 2 adults 3 children | $1,594 | $1,153 | $1,368 | $1,725 | $1,431 |
| 1 adult 3 children | $1,594 | $941 | $994 | $1,725 | $1,590 |
| 2 adults 2 children | $1,233 | $944 | $1,161 | $1,512 | $1,117 |
| 1 adult 2 children | $1,233 | $705 | $787 | $1,512 | $1,213 |
| 2 adults 1 child | $1,233 | $746 | $954 | $820 | $1,008 |
| 1 adult 1 child | $1,233 | $482 | $580 | $820 | $932 |
| 2 adults | $1,092 | $599 | $747 | $0 | $816 |
| 1 adult | $1,068 | $327 | $373 | $0 | $731 |
Safety trends & Data
Powhatan County, Virginia, has seen fluctuating property crime trends over the last five years, with a noteworthy increase in larceny-theft incidents, peaking at 152 cases in 2022. Fraud cases have also spiked, reaching 48 the same year. However, motor vehicle theft and embezzlement have maintained relatively low and stable levels, suggesting a nuanced landscape for real estate... Read more
Property Crime Trends in Powhatan County, VA Over the Last 5 Years
Powhatan County, Virginia has seen fluctuating property crime trends over the last five years. Notably, larceny-theft incidents have seen a significant uptick, especially in 2022 with 152 reported cases, a marked increase from previous years. Fraud cases have also been variable, peaking at 48 in 2022. Despite these rising numbers in certain categories, other crimes like motor vehicle theft and embezzlement have remained relatively stable at low levels. This suggests a nuanced landscape for those considering investments or engagements in Powhatan's real estate sector.
Demographics
Powhatan County, Virginia's adult population skews slightly male with 12,958 males and 11,760 females. Educational attainment shows a broad range, but a significant number of residents have either a high school diploma or some college experience. Age distribution reveals a strong presence of middle-aged adults, particularly those aged 35 to 64, potentially indicating stable career stages and family establishments. The area's race distribution is predominantly White at 26,240, with Black or... Read more
Race Distribution in Powhatan County, Virginia (2022)
Educational Attainment in Powhatan County, Virginia (2022)
Age Distribution in Powhatan County, Virginia
Citizen Population in Powhatan County, Virginia (2022)
Political Trends & Data
Powhatan County, Virginia showed a strong preference for the Republican Party in the 2020 U.S. Presidential Election, with approximately 71% of the votes. Democrats lagged significantly, securing about 27%, while Libertarians and other parties barely made a dent. This political leaning could influence local real estate trends, hinting at community priorities and preferences which might shape buying and selling behaviors in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Powhatan County, Virginia during the 2020 U.S. Presidential Election, the Republican party garnered approximately 71% of the votes, significantly outpacing the Democrats who received around 27%. The Libertarians made a minimal impact with just over 1%, while the Green party didn't register any votes. Other parties barely made a mark with less than 1%. This suggests a strong leaning toward the Republican candidate in this area, reflecting potential underlying political dynamics worth exploring.
71.23% of voters voted for the Republican party in the 2020 Presidential Election
26.96% of voters voted for the Democrat party in the 2020 Presidential Election
1.63% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Other party in the 2020 Presidential Election
School Data
Powhatan County, Virginia has seen its student-to-teacher ratio rise to 15 students per teacher in 2023, surpassing the national average of 14. This shift could affect property values near schools, as larger class sizes might raise concerns about the quality of education and individual student attention. Families moving to the area and real estate agents advising clients may find this information particularly relevant. Appraisers and insurance agents might also consider these trends when... Read more
Student-to-teacher ratio in Powhatan County, Virginia over the last 10 years
Over the past decade, Powhatan County, Virginia has seen its student-to-teacher ratio fluctuate but recently rise to 15 students per teacher in 2023. Notably, this surpasses the current national average of 14 students per teacher. This trend may indicate a larger class size in recent years, which could impact the quality of education and individual student attention. For investors, this could influence decisions related to property values near schools. Families moving into the area may want to consider this when evaluating school quality, while real estate agents might find this data useful in advising clients. Appraisers and insurance agents may also take these trends into account when assessing risks and values tied to local educational facilities.
