Rappahannock County Real Estate and Livability Trends
Rappahannock County, Virginia, has displayed significant trends in taxable income and tax liabilities, with average taxable income peaking at $114,552.43 in 2021 and state and local income taxes rising to $15,559.26. Median home values hit $509,500 in 2022, indicating a high-end market potential, and principal residence mortgages peaked at 674 in 2021, pointing to increasing demand for primary... Read more
Rappahannock County Market Trends
Rappahannock County, Virginia's median home values in 2022 reached $509,500, way above the state and national averages, positioning it as an appealing spot for investors or buyers eyeing appreciating properties. The varying residential energy tax credits and rising real estate taxes, climbing from $3,550 in 2012 to $5,941.82 in 2021, highlight the county’s focus on sustainable living and... Read more
Median Value of Occupied Housing Units in Rappahannock County, Virginia Over the Last 8 Years
In Rappahannock County, Virginia, the median home value saw an upward trend over the past eight years, reaching $509,500 in 2022, significantly higher than both the state average of $339,800 and the national average of $179,400 in the same year. This region's housing market may appeal to potential investors or homebuyers looking for appreciating values, although the higher cost of entry compared to broader state and national trends could be a consideration. For those looking to build or invest, Rappahannock County's substantially higher median values hint at a thriving market, suggesting a higher return on investment.
Residential Energy Tax Credit Per Tax Return in Rappahannock County, VA Over the Last 8 Years
In Rappahannock County, Virginia, residential energy tax credits have fluctuated considerably over the past eight years, ranging from a low of approximately $233.33 in 2014 to a high of $2,660.00 in 2021. This variance might suggest changing adoption rates or varying incentive programs for energy-efficient home investments. Such trends could be intriguing for potential investors, developers, and real estate professionals trying to discern the area's commitment to sustainable living. For insurance agents and appraisers, these swings could signal periodic enhancements in property value due to energy-efficient upgrades.
Average Real Estate Taxes Per Tax Return in Rappahannock County, VA Over the Last 10 Years
In Rappahannock County, Virginia, real estate taxes per tax return have seen a significant upward trend over the past decade. Starting from $3,550.00 in 2012, they have steadily risen to $5,941.82 in 2021. This notable increase highlights potential growth and evolving market conditions, making the area interesting for investors, builders, and real estate agents. It also signals to appraisers and insurance agents that property valuations might be increasing, tied to the higher tax obligations residents are facing.
Percentage of Farm Returns in Rappahannock County, VA Over the Last 10 Years
The percentage of farm returns in Rappahannock County, Virginia has fluctuated mildly over the past decade, ranging from approximately 7.02% to 8.31%. Notably, it peaked in 2013 at around 8.31% and has seen a gradual decline, landing at about 6.98% in 2021. Farm tax returns can offer insights into the agricultural productivity and economic health of the farming sector in the area, which could be of particular interest to investors, new residents, and developers considering the county's rural potential.
Number of Mortgages by Occupancy Type in Rappahannock County, VA Over the Last 5 Years in Rappahannock County
Over the past five years in Rappahannock County, Virginia, there's been a noticeable increase in the number of mortgages for principal residences, peaking in 2021 with 674 mortgages, significantly higher than in previous years. Investment properties and second residences have seen much smaller volumes, though there was an uptick in second residence mortgages in 2020. These trends might suggest a growing demand for primary living spaces in the area, making it potentially attractive for real estate investors, appraisers, and those looking to relocate. The shifts in occupancy type can influence property values, market demand, and insurance rates, thus providing crucial insights for stakeholders in the real estate market.
Economic Outlook
Rappahannock County, Virginia, has displayed intriguing trends in taxable income and tax liabilities over the past decade. Since 2013, average taxable income has fluctuated but peaked notably at $114,552.43 in 2021, indicating possible economic shifts. Increasing average state and local income taxes, which jumped from $7,933.33 in 2012 to $15,559.26 in 2021, suggest rising financial obligations for residents. The total tax liability per tax return has also grown steadily, surging to $22,328.98... Read more
Average Taxable Income per Tax Return in Rappahannock County, VA over the last 9 years
Rappahannock County, Virginia has had some notable fluctuations in average taxable income per tax return over the past nine years. Starting at $81,474.72 in 2013, the figures saw a decrease and recovery pattern, with a significant peak at $114,552.43 in 2021. This kind of income variability could be of interest to investors, real estate agents, and insurance agents as it potentially indicates economic shifts and opportunities within the county. The relatively high and increasing average taxable income suggests a trend that might attract higher-end property developments and a more affluent population.
Average State and Local Income Taxes Per Tax Return in Rappahannock County, VA Over the Last 10 Years
Rappahannock County, Virginia, has seen a notable increase in average state and local income taxes over the past decade, rising from $7,933.33 in 2012 to $15,559.26 in 2021. While there were fluctuations in between, the overall trend is upward, suggesting growing financial obligations for residents. The substantial jump observed in recent years, peaking in 2021, might impact decisions for potential investors, home buyers, and real estate professionals when considering the county's economic landscape. Understanding these trends could be crucial for appraisers and insurance agents in adjusting their assessments and policy offerings.
Average Total Tax Liability Per Tax Return in Rappahannock County, VA Over the Last 10 Years
Over the last decade, the average total tax liability per tax return in Rappahannock County, Virginia, has shown a noticeable trend of steady growth, with 2021 peaking significantly at $22,328.98. Initially fluctuating between $13,000 to $14,000, there's a clear upward trajectory starting in 2017, suggesting increased economic activity or changing tax policies. This pattern may indicate rising incomes or appreciating property values, making it relevant for investors, real estate agents, and appraisers to consider the potential for growing returns and costs.
Cost of Living in Rappahannock County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,381 | $1,516 | $1,549 | $1,951 | $1,672 |
| 1 adult 4 children | $1,381 | $1,238 | $1,182 | $1,951 | $1,815 |
| 2 adults 3 children | $1,381 | $1,239 | $1,346 | $1,951 | $1,399 |
| 1 adult 3 children | $1,381 | $1,011 | $978 | $1,951 | $1,580 |
| 2 adults 2 children | $1,096 | $1,014 | $1,142 | $1,691 | $1,127 |
| 1 adult 2 children | $1,096 | $757 | $775 | $1,691 | $1,218 |
| 2 adults 1 child | $1,096 | $801 | $939 | $846 | $971 |
| 1 adult 1 child | $1,096 | $518 | $571 | $846 | $875 |
| 2 adults | $946 | $644 | $735 | $0 | $767 |
| 1 adult | $940 | $351 | $368 | $0 | $672 |
Safety trends & Data
Rappahannock County, Virginia's property crime trends have seen notable fluctuations over the past five years, with increases in burglary and fraud. In 2020, burglary incidents peaked at three reported cases, while fraud cases slightly rose in 2021 with two incidents. Vandalism and larceny-theft have remained relatively constant, hinting at potential hotspots or persistent factors. This insight could be crucial for property investors, real estate agents, and insurance providers assessing the... Read more
Property Crime Trends in Rappahannock County, VA Over the Last 5 Years
Rappahannock County, Virginia has shown fluctuating property crime trends over the past five years, with notable increases in burglary and fraud incidents. Burglary incidents peaked in 2020 with three reported cases, while fraud saw a slight rise in 2021 with two cases. Vandalism and larceny-theft appear relatively constant, suggesting potential hotspots or persistent factors contributing to these occurrences. This data might indicate emerging concerns for property investors, real estate agents, and insurance providers assessing the risk and security landscape of the county.
Demographics
Rappahannock County, Virginia shows a slightly higher female adult population compared to males. Educational attainment varies, with the majority having completed high school, some college, or higher education degrees. Age distribution indicates a significant portion of the population is aged 55 and above, suggesting potential implications for senior services. The racial composition is predominantly White, with other racial groups forming a small portion of the population. These trends could be... Read more
Race Distribution in Rappahannock County, Virginia (2022)
Educational Attainment in Rappahannock County, Virginia (2022)
Age Distribution in Rappahannock County, Virginia
Citizen Population in Rappahannock County, Virginia (2022)
Political Trends & Data
Rappahannock County in Virginia exhibited a distinct Republican preference in the 2020 U.S. Presidential Election, with the party securing around 56% of the vote. In contrast, the Democratic party gained approximately 42%, while the Libertarian party received about 1%. This distribution suggests a solid two-party presence with minimal influence from third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Rappahannock County in Virginia saw a notable leaning towards the Republican party, capturing an estimated 56% of the vote in the 2020 U.S. Presidential Election. The Democratic party was somewhat behind, garnering around 42% of votes. Marginal support was given to the Libertarian party, with roughly 1% of the electorate. Other parties and candidates combined made up an even smaller fraction of the total votes, potentially highlighting a strong two-party system with limited impact from third-party candidates.
56.48% of voters voted for the Republican party in the 2020 Presidential Election
42.10% of voters voted for the Democrat party in the 2020 Presidential Election
1.12% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Other party in the 2020 Presidential Election
School Data
Rappahannock County, Virginia has experienced a fluctuating but generally declining student-to-teacher ratio over the past decade, falling to an impressive low of about eleven students per teacher in 2023. This trend suggests a more personalized educational experience, which could boost the area's appeal to families prioritizing quality education. Real estate agents and appraisers might find this data valuable when assessing property values, as it enhances the community’s attractiveness.... Read more
Student-to-teacher ratio in Rappahannock County, Virginia over the last 10 years
Over the last decade, Rappahannock County, Virginia has seen a fluctuating student-to-teacher ratio, consistently nearing or falling below the national average of fourteen students per teacher. The ratio peaked in 2015 with approximately fourteen students per teacher but began a noticeable decline reaching its lowest point in 2023 at about eleven. For potential investors or those considering moving to the area, this downward trend suggests a more personalized educational experience, which may appeal to families prioritizing quality education. Real estate agents and appraisers might leverage this trend when assessing property values, as it could enhance the area's desirability. Insurance agents, meanwhile, might see implications in terms of reduced risk of claims related to school overcrowding. Builders and developers could also find this data significant when planning new residential projects, ensuring alignment with the community's educational standards and future growth potential.
