Richmond County Real Estate and Livability Trends
In Richmond County, Virginia, the median home values have surged from $150,000 in 2015 to $218,600 in 2022, presenting compelling opportunities for investors interested in emerging markets. Enhanced residential energy tax credits—from $275.00 in 2013 to $1,028.57 by 2021—highlight the community's shift toward energy efficiency, making eco-friendly property upgrades more attractive. The area... Read more
Richmond County Market Trends
The median home values in Richmond County, Virginia have increased significantly from $150,000 in 2015 to $218,600 in 2022, outpacing national trends. Despite starting lower than the state's median, Richmond County's growth offers intriguing opportunities for investors eyeing emerging markets. Residential energy tax credits have surged from $275.00 in 2013 to $1,028.57 by 2021, reflecting a... Read more
Median Value of Occupied Housing Units in Richmond County, Virginia Over the Last 8 Years
The median home values in Richmond County, Virginia have seen a strong upward trajectory over the past eight years, increasing from $150,000 in 2015 to $218,600 in 2022. When compared to the national median, which rose from $125,500 to $179,400 over the same period, Richmond County shows a relatively steeper climb. However, Virginia as a whole has a higher starting point and growth, with values increasing from $245,000 in 2015 to $339,800 in 2022. This suggests that while Richmond County offers more affordable housing options within the state, it is experiencing significant growth that may appeal to investors or those looking for emerging markets.
Residential Energy Tax Credit Per Tax Return in Richmond County, VA Over the Last 8 Years
Richmond County, Virginia has seen a notable increase in residential energy tax credits per tax return over the past eight years. Starting at $275.00 in 2013, the average credit grew significantly to $1,028.57 by 2021. This trend could indicate a heightened focus on energy efficiency and sustainability among residents and potential tax incentives for eco-friendly home improvements. Investors, builders, and real estate agents might find this rising credit trend appealing as it may reflect broader community support for energy-efficient property upgrades. Homeowners and prospective movers may also be intrigued by the potential for tax savings on energy-efficient installations.
Average Real Estate Taxes Per Tax Return in Richmond County, VA Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Richmond County, Virginia, have consistently climbed from $1,702.44 in 2012 to approximately $2,678.95 in 2021. This upward trend suggests a growing financial commitment for homeowners and potential buyers, which investors and real estate agents should closely monitor. The steady rise could influence property valuations and insurance premiums, making it a critical factor for those looking to build, sell, or insure property in the area.
Percentage of Farm Returns in Richmond County, VA Over the Last 10 Years
In Richmond County, Virginia, the percentage of farm tax returns over the last decade has hovered around 2.1% to 2.9%, showing relatively stable engagement in agricultural activities. Farm tax returns are indicators of agricultural income, reflecting the financial health and viability of farming in the area. Investors and prospective residents might find this consistency reassuring, suggesting a steady, albeit small, agricultural presence. This stability in farm returns could hint at durable agricultural practices and a potentially reliable local food supply or small-scale agribusiness opportunities.
Number of Mortgages by Occupancy Type in Richmond County, VA Over the Last 5 Years in Richmond County
Over the past five years, Richmond County, Virginia has seen notable fluctuations in the number of mortgages for different occupancy types. While principal residences consistently dominate, peaking at 458 in 2021, investment property mortgages have generally trended lower, dipping to just 7 in 2022. Second residences exhibit variable but minor fluctuations. These trends could influence prospective investors and insurance agents, as demand for primary homes suggests a stable residential base, whereas fluctuating second home and investment property figures may hint at economic or demographic shifts. Real estate agents and appraisers might consider this data when evaluating market stability and risk.
Economic Outlook
In Richmond County, Virginia, the average taxable income per tax return has grown steadily over the last nine years, reaching $60,164.36 in 2021. This upward trend in incomes, coupled with increasing state and local income taxes—peaking at $6,160.00 in 2021—may suggest a robust local economy. Moreover, rising total tax liabilities, which hit $7,757.19 in 2021, potentially reflect higher disposable incomes and economic growth, impacting real estate market decisions and property values.... Read more
Average Taxable Income per Tax Return in Richmond County, VA over the last 9 years
Richmond County, Virginia, has seen steady growth in average taxable income per tax return over the last nine years, peaking at $60,164.36 in 2021. This increasing trend may signal a flourishing local economy, potentially making it an attractive area for investment, real estate development, and relocation. This upward trajectory offers promising insights for appraisers and insurance agents assessing the county's economic landscape.
Average State and Local Income Taxes Per Tax Return in Richmond County, VA Over the Last 10 Years
Over the past decade in Richmond County, Virginia, there's been a discernible upward trend in average state and local income taxes per tax return. Starting at around $3,656.10 in 2012, the figures have gradually increased, peaking at about $6,160.00 in 2021. This trend may signal rising incomes, growing public expenditures, or tax policy changes, impacting investment decisions, real estate markets, and overall financial planning for those considering relocation or property investments in the area.
Average Total Tax Liability Per Tax Return in Richmond County, VA Over the Last 10 Years
Over the last decade, Richmond County, Virginia has seen an upward trend in average total tax liability per tax return, moving from $5,437.34 in 2012 to $7,757.19 in 2021. This gradual increase indicates a rising financial obligation for residents, which could be reflective of growing incomes or changes in tax policies. For prospective investors or homebuyers, understanding this trend is crucial as it impacts disposable income and overall cost of living. Real estate agents and property developers might correlate these figures with economic growth and potential property value appreciations in the region.
Cost of Living in Richmond County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,187 | $1,593 | $1,538 | $1,259 | $1,241 |
| 1 adult 4 children | $1,187 | $1,301 | $1,174 | $1,259 | $1,369 |
| 2 adults 3 children | $1,187 | $1,301 | $1,335 | $1,259 | $1,010 |
| 1 adult 3 children | $1,187 | $1,062 | $971 | $1,259 | $1,121 |
| 2 adults 2 children | $975 | $1,065 | $1,133 | $1,102 | $888 |
| 1 adult 2 children | $975 | $796 | $769 | $1,102 | $846 |
| 2 adults 1 child | $975 | $842 | $930 | $589 | $806 |
| 1 adult 1 child | $975 | $544 | $566 | $589 | $707 |
| 2 adults | $782 | $676 | $727 | $0 | $659 |
| 1 adult | $723 | $369 | $364 | $0 | $572 |
Safety trends & Data
Richmond County, Virginia, has shown fluctuating property crime trends over the last five years, with larceny-theft peaking at 9 incidents in 2022. Burglaries have varied but remained low, and vandalism saw slight increases, notably hitting 4 incidents in both 2019 and 2022. These varying crime rates might help investors, property owners, and insurance agents assess risk when considering real estate in the... Read more
Property Crime Trends in Richmond County, VA Over the Last 5 Years
Richmond County, Virginia, has shown fluctuating trends in property crimes over the last five years. Larceny-theft has been consistently higher, particularly peaking at 9 incidents in 2022. Burglaries have varied but remained relatively low, tying at 3 incidents in both 2018, 2021, and 2022 after a significant drop to just 1 in 2019 and 2020. Vandalism incidents see a slight increase, reaching 4 in 2019 and 2022. Other crime categories like fraud and embezzlement demonstrate sporadic occurrences, pointing to irregular spikes rather than consistent trends. Investors, property owners, and insurance agents might find these varying crime rates relevant when assessing risk or the desirability of real estate in the area.
Demographics
Richmond County, Virginia, shows a gender imbalance with a noticeably higher male population. Educational attainment varies significantly, with the majority holding a high school diploma or less, which could influence local employment sectors and income levels. The age distribution hints at an aging population, with substantial portions in the 45+ age groups. Racially, the community is primarily White and African American, suggesting limited ethnic diversity which might shape cultural and... Read more
Race Distribution in Richmond County, Virginia (2022)
Educational Attainment in Richmond County, Virginia (2022)
Age Distribution in Richmond County, Virginia
Citizen Population in Richmond County, Virginia (2022)
Political Trends & Data
Richmond County, Virginia, seems to display a strong conservative presence, with the GOP securing around 62% of the votes in the 2020 U.S. Presidential Election. The Democrats trailed with about 37%, pointing to a significant Republican lean. Libertarian and minor parties captured less than 1%, indicating limited third-party influence in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Richmond County, Virginia, appears to have leaned significantly Republican in the 2020 U.S. Presidential Election, with roughly 62% of the votes going to the GOP. The Democratic Party trailed with about 37%, indicating a strong conservative presence. Libertarian and other minor party candidates seem to have garnered minimal support, capturing less than 1% of the vote, suggesting that third-party influence might be quite limited in this area.
62.09% of voters voted for the Republican party in the 2020 Presidential Election
36.88% of voters voted for the Democrat party in the 2020 Presidential Election
0.76% of voters voted for the Livertarian party in the 2020 Presidential Election
0.27% of voters voted for the Other party in the 2020 Presidential Election
School Data
Richmond County, Virginia's student-to-teacher ratio has seen fluctuations over the last decade, starting below the national average in 2014 with approximately 14 students per teacher, peaking at around 16 in 2022, and returning to 14 in 2023. These changes could signal varying levels of school crowding and resource allocation, which may influence property values, community desirability, and educational quality. For potential investors, homebuyers, and real estate professionals, understanding... Read more
Student-to-teacher ratio in Richmond County, Virginia over the last 10 years
Over the last decade, Richmond County, Virginia has seen its student-to-teacher ratio fluctuate, hovering around the national average. While it started slightly below the national average of fourteen in 2014 with approximately 14 students per teacher, it peaked at around sixteen in 2022 before dropping back to around 14 in 2023. These shifts in the student-to-teacher ratio could be significant for potential investors, homebuyers, real estate agents, and educators as they reflect changes in school crowding and resource allocation, potentially impacting property values, community desirability, and the quality of education.
