Prince Edward County Real Estate and Livability Trends
Prince Edward County, Virginia, showcases a notable rise in average taxable income from $42,274.26 in 2013 to $58,212.88 in 2021. This economic growth is echoed in the surge of median home values from $151,500 in 2015 to $193,400 in 2022, hinting at increasing interest from investors and new residents. A push towards energy efficiency is evident with residential energy tax credits topping $1,800... Read more
Prince Edward County Market Trends
Prince Edward County, Virginia has seen its median home values grow significantly, jumping from $151,500 in 2015 to $193,400 in 2022, which is a $41,900 increase. This surge, though still below the state average, could signify increased interest from investors and new residents. There's been a notable rise in residential energy tax credits, reaching over $1,800 per return in 2018 and 2019,... Read more
Median Value of Occupied Housing Units in Prince Edward County, Virginia Over the Last 8 Years
Prince Edward County, Virginia has experienced a significant uptick in median home values, rising from $151,500 in 2015 to $193,400 in 2022. This $41,900 increase is notable, especially when compared to Virginia's overall growth where median values surged from $245,000 to $339,800. Nationally, the increase was from $125,500 to $179,400. While Prince Edward County remains more affordable than the state average, its recent spike could signal a growing interest in the area, making it a potentially lucrative spot for investors and new residents alike.
Residential Energy Tax Credit Per Tax Return in Prince Edward County, VA Over the Last 9 Years
Over the last nine years, residents in Prince Edward County, Virginia have seen varying average residential energy tax credits per tax return, with noticeable growth after 2015. The average credit spiked significantly in 2018 and 2019, reaching over $1,800, indicating heightened investment or uptake in energy-efficient improvements during this period. These fluctuations may offer valuable insights for real estate agents, developers, and insurers looking at the area's commitment to energy efficiency. This trend towards higher energy tax credits could reflect a growing market for eco-friendly housing solutions, making it potentially attractive for investment and development opportunities.
Average Real Estate Taxes Per Tax Return in Prince Edward County, VA Over the Last 10 Years
Over the last decade, real estate taxes in Prince Edward County, Virginia have seen a notable increase. Starting from an average of $1,337.06 in 2012, there has been a steady rise, reaching $2,318.42 by 2021. The most significant jumps appear between 2017 and 2018 and again from 2020 to 2021. These trends might signal increased property values or changes in tax assessment policies, likely impacting decisions for potential investors, builders, and real estate agents assessing market dynamics. Higher taxes might also hint at enhanced local services or infrastructural developments that could be of interest to current and prospective residents and insurers.
Percentage of Farm Returns in Prince Edward County, VA Over the Last 10 Years
Over the last decade, Prince Edward County, Virginia, has seen a gradual decline in the percentage of farm tax returns, dropping from approximately 4.02% in 2012 to around 3.28% in 2021. Farm tax returns typically signify the economic activity and viability of agricultural businesses in a region, so this downward trend could suggest challenges within the local farming industry. For those looking to invest in, move to, or build property in this area, it might be indicative of shifting economic conditions or a transition away from agriculture-centric revenue. This data might also be useful for evaluating the long-term sustainability and financial health of the local agricultural sector.
Number of Mortgages by Occupancy Type in Prince Edward County, VA Over the Last 5 Years in Prince Edward County
Over the past five years in Prince Edward County, Virginia, there's been a noticeable trend in mortgage counts varying by occupancy type. Principal residences consistently far outpaced both investment properties and second residences, reflecting a robust demand for primary living spaces. Year-on-year fluctuations reveal a significant increase in principal residence mortgages in 2021, followed by a decrease in 2022, possibly indicating shifting market dynamics or economic conditions. Meanwhile, investment properties and second residences remained relatively stable, though both saw a slight uptick in 2021. These occupancy type shifts might influence property values, risk assessment for insurers, and investment strategies, given that changes in demand for primary versus secondary and investment homes can signal broader economic trends and affect local infrastructure and service needs.
Economic Outlook
Over the past nine years, Prince Edward County, Virginia has experienced a notable increase in average taxable income per tax return, rising from $42,274.26 in 2013 to $58,212.88 in 2021. Along with this, average state and local income taxes have surged from $4,018.50 in 2012 to $7,654.55 in 2021, particularly accelerating after 2018. These economic indicators suggest an upward trend in affluence and a developing local economy, which is essential information for real estate and insurance agents... Read more
Average Taxable Income per Tax Return in Prince Edward County, VA over the last 9 years
Over the past nine years, Prince Edward County, Virginia has seen a fluctuating yet upward trend in average taxable income per tax return, increasing from $42,274.26 in 2013 to $58,212.88 in 2021. This steady rise may indicate economic growth in the area, making it potentially attractive for investors and new residents. Real estate agents and property developers could look at these figures as a sign of increasing purchasing power within the local market, while insurance agents might adjust their premium calculations accordingly. The overall upward momentum, notwithstanding some variations, underscores the growing affluence of the county's populace.
Average State and Local Income Taxes Per Tax Return in Prince Edward County, VA Over the Last 10 Years
Over the past decade, Prince Edward County, Virginia has seen a notable rise in average state and local income taxes per tax return. From $4,018.50 in 2012 to $7,654.55 in 2021, there's a clear upward trend, particularly accelerating from 2018 onwards. This increase could hint at rising incomes or changes in tax policy, impacting both cost of living and investment attractiveness. For those considering relocating, investing, or working in real estate here, this data suggests a more robust local economy but also a higher tax burden in recent years.
Average Total Tax Liability Per Tax Return in Prince Edward County, VA Over the Last 10 Years
Prince Edward County, Virginia has seen a notable rise in average total tax liability per tax return over the past decade, starting at $5,583.75 in 2012 and reaching $8,251.88 in 2021. This upward trend may hint at increasing property values or rising incomes, impacting decisions for potential investors and property developers. This growth is particularly significant for real estate agents and insurance agents, as it might influence property appraisals and insurance premiums.
Cost of Living in Prince Edward County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,149 | $1,367 | $1,512 | $938 | $982 |
| 1 adult 4 children | $1,149 | $1,117 | $1,154 | $938 | $1,094 |
| 2 adults 3 children | $1,149 | $1,117 | $1,313 | $938 | $815 |
| 1 adult 3 children | $1,149 | $912 | $955 | $938 | $872 |
| 2 adults 2 children | $944 | $914 | $1,114 | $820 | $735 |
| 1 adult 2 children | $944 | $683 | $756 | $820 | $673 |
| 2 adults 1 child | $944 | $723 | $915 | $436 | $706 |
| 1 adult 1 child | $944 | $467 | $557 | $436 | $631 |
| 2 adults | $760 | $581 | $716 | $0 | $619 |
| 1 adult | $700 | $317 | $358 | $0 | $558 |
Safety trends & Data
In Prince Edward County, Virginia, property crime trends over the past five years show noticeable fluctuations, especially in larceny-theft incidents, which peaked at 57.00 in 2022. Although vandalism and fraud rates vary, they generally stay lower compared to larceny-theft. Burglary incidents saw a sharp drop from 10.00 in 2018 to 1.00 in 2021, rising slightly to 6.00 in 2022. The steady presence of motor vehicle theft and embezzlement indicates that theft remains a primary concern, likely... Read more
Property Crime Trends in Prince Edward County, VA Over the Last 5 Years
Over the past five years in Prince Edward County, Virginia, property crime trends have fluctuated, with a notable increase in larceny-theft incidents, peaking at 57.00 in 2022. Vandalism and fraud have shown some variability but generally remain lower in comparison to larceny-theft. Burglary incidents saw a sharp decline from 10.00 in 2018 to just 1.00 in 2021, with a slight uptick to 6.00 in 2022. Motor vehicle theft and embezzlement appear infrequent but steady. This pattern suggests that theft remains the predominant concern, likely impacting property values and insurance rates while influencing investment and development considerations.
Demographics
Prince Edward County in Virginia shows a nearly balanced gender distribution with males slightly outnumbering females. Educational attainment reveals a concentration around high school graduates and some college experience, but a notable portion of the population holds a bachelor's or higher degree. The age structure is diverse, with a significant youth presence indicating potential future workforce growth, while a considerable segment aged 55 and up might suggest upcoming demand for senior... Read more
Race Distribution in Prince Edward County, Virginia (2022)
Educational Attainment in Prince Edward County, Virginia (2022)
Age Distribution in Prince Edward County, Virginia
Citizen Population in Prince Edward County, Virginia (2022)
Political Trends & Data
Prince Edward County, Virginia, exhibits a tight political landscape with Democrats potentially edging out Republicans slightly at 51.9% versus 46.3%. The near absence of influential third-party votes, barely exceeding 2%, hints at a highly polarized local electorate. This nuanced political backdrop may influence real estate dynamics, as community priorities and policy directions tend to align closely with prevailing political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Prince Edward County, Virginia, the 2020 U.S. Presidential Election results show Democrats likely hold a slight edge with 51.9% of the votes, compared to Republicans who garnered approximately 46.3%. Minor parties like Libertarians and others seem to have minimal impact, collectively making up less than 2% of the vote. This could hint at a notably polarized electorate with limited third-party influence.
46.31% of voters voted for the Republican party in the 2020 Presidential Election
51.94% of voters voted for the Democrat party in the 2020 Presidential Election
1.42% of voters voted for the Livertarian party in the 2020 Presidential Election
0.33% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Prince Edward County, Virginia, the student-to-teacher ratio has generally been just below the national average of 14, fluctuating between 12 and 13 over the past decade. However, 2023 saw a hike to nearly 15 students per teacher, hinting at possible population growth or budgetary adjustments. This trend can influence classroom dynamics and indicate evolving community needs, affecting property values and signaling potential opportunities for investors and real estate... Read more
Student-to-teacher ratio in Prince Edward County, Virginia over the last 10 years
Prince Edward County, Virginia's student-to-teacher ratio has mostly hovered just below the national average of 14 students per teacher, with minor fluctuations from 12 to 13 students per teacher over the last decade. However, in 2023, there's been a notable shift upwards to nearly 15 students per teacher. Changes in the student-to-teacher ratio can significantly impact classroom dynamics and resource allocation, being a potential marker for population growth or budget adjustments. This could be particularly crucial for investors and real estate agents, suggesting either an increase in the local population or changes in funding for schools—each carrying its own sets of implications for property values and community development.
