Radford city Real Estate and Livability Trends
Radford city, Virginia has seen steady growth in average taxable income, rising from roughly $46,747.30 in 2013 to nearly $55,707.92 in 2021, which could attract investors. Median home values have also increased significantly, from $148,600 in 2015 to $204,700 in 2022, albeit still lagging behind Virginia's average. Real estate taxes have climbed from $1,831.19 in 2012 to $2,875.00 in 2021, a... Read more
Radford city Market Trends
Radford city's median home values have charted an upward course from $148,600 in 2015 to $204,700 in 2022, showing above-average national growth but still trailing behind Virginia's figures. Residential energy tax credits have seen dramatic variance, peaking at $1,200.00 in 2019 and stabilizing around $525.00 in 2021, indicating active local investment in energy-efficient home improvements. Real... Read more
Median Value of Occupied Housing Units in Radford city, Virginia Over the Last 8 Years
Radford city's median home values have shown an upward trajectory over the past 8 years, shooting from $148,600 in 2015 to $204,700 in 2022. This trend is particularly compelling when seen in the context of both state and national figures. Compared to Virginia, where the median home value soared from $245,000 to $339,800 over the same period, Radford is still considerably more affordable. Nationally, the median home value increase from $125,500 to $179,400 suggests that Radford's growth rate is slightly above the national average, emphasizing its potential as an appealing investment opportunity while still maintaining affordability.
Residential Energy Tax Credit Per Tax Return in Radford city, VA Over the Last 7 Years
In Radford city, Virginia, residential energy tax credits per tax return have shown considerable fluctuations over the past seven years. After hitting lows around $183.33 in 2014, there was a significant spike to about $1,200.00 in 2019, hinting at a possible increase in local investment in energy-efficient improvements. Recent years suggest a more moderate yet elevated average, with $525.00 in 2021, indicating consistent engagement in qualifying energy-saving installations. For potential investors or real estate agents, this trend could point to growing homeowner interest in sustainable living, possibly enhancing property values and marketability. Appraisers and insurance agents might also take note of the impact of these upgrades on home valuations and risks.
Average Real Estate Taxes Per Tax Return in Radford city, VA Over the Last 10 Years
Radford city, Virginia has witnessed a notable rise in average real estate taxes per tax return over the past decade, starting from $1,831.19 in 2012 to reaching a peak at $2,875.00 in 2021. This upward trend, especially the sharp increase between 2017 and 2019, may reflect shifts in property values, municipal budgetary needs, or both. For potential property investors, real estate agents, or those considering relocating, this trajectory suggests the possibility of increasing property tax burdens, which could impact overall housing costs and investment returns.
Percentage of Farm Returns in Radford city, VA Over the Last 7 Years
Farm tax returns in Radford city, Virginia have shown modest fluctuations over the last 7 years, generally hovering around 0.37% to 0.55%. Farm tax returns indicate the percentage of tax returns filed by farmers, shedding light on the agricultural economy of the area. The slight variations suggest a relatively stable farming activity, with 2017 experiencing a minor spike to 0.55%. While this isn't a significant shift, understanding these trends could be useful for potential investors or property developers aiming to gauge the stability and potential growth of the local agricultural sector. For those considering a move to Radford city, the steady nature of farm returns might reflect a consistent community that supports agricultural endeavors.
Number of Mortgages by Occupancy Type in Radford city, VA Over the Last 5 Years in Radford city
Over the last five years, Radford city, Virginia has seen a notable fluctuation in the types of mortgages issued. Principal Residences have consistently maintained the highest count, ranging from 331 in 2018 to a peak of 584 in 2021. Investment Properties show varied interest, peaking at 78 in 2020 before dropping to 39 by 2022. Second Residences have remained relatively minimal, staying around 8 annually. These shifts can provide critical insights for investors, real estate professionals, and builders; knowing the occupancy trends aids in forecasting demand, pricing strategies, and risk assessments, making Radford city a dynamic area for both residential and investment opportunities.
Economic Outlook
Radford city, Virginia has experienced a gradual increase in average taxable income per tax return, climbing from about $46,747.30 in 2013 to nearly $55,707.92 by 2021. This trend hints at a strengthening local economy and can be appealing to investors and developers. Notably, the area has also seen significant hikes in state and local income taxes, peaking at $14,919.05 in 2021, which might point to shifts in tax policies or growing income levels. Additionally, the average total tax liability... Read more
Average Taxable Income per Tax Return in Radford city, VA over the last 9 years
Radford city, Virginia has seen a gradual uptick in average taxable income per tax return over the past nine years. Starting at roughly $46,747.30 in 2013, the average income has climbed to approximately $55,707.92 by 2021. This trend suggests a strengthening local economy, making Radford potentially attractive for investors, property developers, and real estate agents. For appraisers and insurance agents, noting this upward trend can be crucial for valuation and policy adjustments. Homebuyers and residents might find this encouraging as it indicates a rising standard of living and possibly more stable employment opportunities in the area.
Average State and Local Income Taxes Per Tax Return in Radford city, VA Over the Last 10 Years
Over the last decade, Radford city, Virginia has seen a significant increase in average state and local income taxes per tax return. Starting at $5,322.02 in 2012, there has been a notable rise with peaks at $9,700.00 in 2019 and $14,919.05 in 2021. This upward trend could indicate changes in tax policies or an increase in the overall income levels within the area. For potential investors, real estate agents, and those looking to build or inscribe insurance policies, understanding these fluctuations can be crucial in forecasting economic stability and the financial landscape of Radford city.
Average Total Tax Liability Per Tax Return in Radford city, VA Over the Last 10 Years
Over the last decade, Radford, Virginia has seen fluctuations in average total tax liability per tax return. For instance, the tax liability bottomed out at $7,021.83 in 2018 but then rebounded to $7,753.53 by 2021. This volatility may reflect changes in local economic factors, tax policies, or income levels, which could be important for potential investors, homeowners, and tax professionals. Notably, a peak in 2016, with an average liability of $8,008.14, suggests periods of higher financial responsibility for residents, potentially influencing appraisals, property investments, and insurance considerations.
Cost of Living in Radford city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,201 | $1,343 | $1,702 | $1,326 | $1,190 |
| 1 adult 4 children | $1,201 | $1,097 | $1,300 | $1,326 | $1,287 |
| 2 adults 3 children | $1,201 | $1,097 | $1,478 | $1,326 | $956 |
| 1 adult 3 children | $1,201 | $896 | $1,076 | $1,326 | $1,061 |
| 2 adults 2 children | $859 | $898 | $1,254 | $1,153 | $804 |
| 1 adult 2 children | $859 | $671 | $851 | $1,153 | $767 |
| 2 adults 1 child | $859 | $710 | $1,029 | $589 | $738 |
| 1 adult 1 child | $859 | $459 | $627 | $589 | $647 |
| 2 adults | $703 | $570 | $805 | $0 | $614 |
| 1 adult | $676 | $311 | $402 | $0 | $533 |
Safety trends & Data
Radford city, Virginia has seen notable shifts in property crime over the past five years, especially in larceny-theft and vandalism. The year 2021 had a notable spike in larceny-theft incidents with 40 arrests, while vandalism incidents remained steady between 8-11 annually. Burglary, however, saw a sharp drop from 7 incidents in 2018 to just 1 by 2022. These fluctuations could impact crime prevention strategies and carry significant implications for investors, insurers, and property... Read more
Property Crime Trends in Radford city, VA Over the Last 5 Years
Radford city, Virginia has seen a varied landscape in property crime over the past five years, particularly in categories like larceny-theft and vandalism. The year 2021 stood out with a dramatic spike in larceny-theft arrests, reaching 40 incidents, while vandalism has hovered around 8-11 incidents annually. Interestingly, burglary incidents dropped significantly from 7 in 2018 to just 1 by 2022. Fraud saw fluctuations but remained more stable compared to other categories. These trends may signal a shifting focus for crime prevention efforts and are crucial for investors, insurers, and property developers considering the evolving safety and security landscape.
Demographics
In Radford City, Virginia, the adult population is almost evenly split between men and women, with a slight majority of females. Educational attainment is varied, but there's a significant proportion of residents holding a bachelor's degree or higher. The age distribution highlights a young demographic, particularly those aged 15 to 24, likely influenced by the presence of a university or college in the area. Race distribution reflects a predominantly white population, with modest... Read more
Race Distribution in Radford city, Virginia (2022)
Educational Attainment in Radford city, Virginia (2022)
Age Distribution in Radford city, Virginia
Citizen Population in Radford city, Virginia (2022)
Political Trends & Data
In Radford, Virginia, the 2020 U.S. Presidential Election indicates a modest Democratic lean, with Democrats capturing approximately 53% of the vote compared to Republicans' 44%. Libertarians had a minor impact with a bit over 2%. This trend might hint at shifting political preferences in the county, aligning with broader changes observed in Virginia. This subtle shift in voter behavior could have implications for local policies and investment opportunities, particularly in areas where... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Radford, Virginia, the 2020 U.S. Presidential Election saw Democrats likely edging out Republicans, capturing around 53% of the vote compared to the Republicans' 44%. Libertarians made a minor impact with just over 2%, while other parties barely registered on the radar. This suggests a modest Democratic preference in the county, reflecting potentially shifting political landscapes in Virginia.
44.08% of voters voted for the Republican party in the 2020 Presidential Election
53.13% of voters voted for the Democrat party in the 2020 Presidential Election
2.29% of voters voted for the Livertarian party in the 2020 Presidential Election
0.49% of voters voted for the Other party in the 2020 Presidential Election
School Data
Radford City, Virginia’s student-to-teacher ratio has generally hovered around the national average of fourteen students per teacher. In 2021, it spiked to sixteen, suggesting possible temporary staffing challenges or increased enrollment, but it dropped to thirteen in 2022 and slightly risen to just over fourteen in 2023. This educational stability might appeal to families and reassure property investors and real estate agents marketing to education-conscious... Read more
Student-to-teacher ratio in Radford City, Virginia over the last 10 years
Radford City, Virginia’s student-to-teacher ratio has fluctuated over the past decade, generally hovering around the national average of fourteen students per teacher. In 2021, there was a notable increase to sixteen students per teacher, which could suggest temporary staffing challenges or a surge in student enrollment. However, the ratio dropped to thirteen in 2022 and has slightly risen to just over fourteen in 2023. This consistency with national figures may indicate a stable learning environment, which could be appealing for families considering moving to the area, as well as reassuring for potential property investors and real estate agents looking to market the area as attractive for education-conscious buyers.
