Roanoke city Real Estate and Livability Trends
Roanoke City, Virginia has witnessed varied economic shifts with average taxable incomes peaking at $60,134.99 in 2021, suggesting economic growth, while state and local taxes per return surged from $5,246.57 in 2012 to $13,900.00 in 2021, potentially affecting investment decisions. Median home values climbed modestly to $162,000 in 2022, still quite affordable compared to the state's $339,800,... Read more
Roanoke city Market Trends
In Roanoke City, Virginia, the median home value has risen modestly over the past eight years, peaking at $162,000 in 2022, which is still more affordable compared to the state median of $339,800. Noteworthy is the sharp increase in residential energy tax credits, from $271.58 in 2013 to $996.83 in 2021, indicating a strong local emphasis on energy efficiency. Real estate taxes have also climbed... Read more
Median Value of Occupied Housing Units in Roanoke city, Virginia Over the Last 8 Years
Over the past eight years, the median home value in Roanoke city, Virginia has shown a generally modest upward trajectory, peaking at $162,000 in 2022. This is a significant rise compared to previous years, especially following a more volatile period where values hovered closely around the $134,000 to $140,000 range until 2021. When compared to state figures, Roanoke's growth has been more restrained; Virginia's median home values hit $339,800 in 2022, showcasing a much steeper escalation. Nationally, Roanoke's values have aligned more closely, though still lagging behind the U.S. peak of $179,400 in 2022. This trend could signify a more affordable yet increasingly appreciating market, potentially appealing to investors and homebuyers looking for stable and growing housing investments.
Residential Energy Tax Credit Per Tax Return in Roanoke city, VA Over the Last 9 Years
Roanoke, Virginia has seen a notable increase in the average residential energy tax credit per tax return over the past nine years, starting from around $271.58 in 2013 and reaching nearly $996.83 by 2021. Particularly striking is the sharp spike to $1,550.00 in 2018, possibly reflecting significant investments or policy shifts towards energy efficiency. This upward trend indicates a growing emphasis on energy-saving initiatives, which can signal to investors and property developers a community that values and rewards sustainable living practices. For insurance agents and real estate professionals, these trends can imply an increasing demand for energy-efficient homes, potentially affecting property valuations and client priorities.
Average Real Estate Taxes Per Tax Return in Roanoke city, VA Over the Last 10 Years
Real estate taxes per tax return in Roanoke city, Virginia have shown a consistent upward trend over the last ten years. The average tax has increased from around $2,477.98 in 2012 to approximately $4,544.02 in 2021. Notably, there was a significant jump between 2017 and 2018, where average taxes rose from $2,981.73 to about $4,223.60. This escalation in taxes could suggest a rise in property values, potentially impacting investors, homebuyers, appraisers, and insurance agents who are looking at the area. For real estate agents and builders, this trend might indicate a burgeoning market while current residents may experience increases in their annual expenditures.
Percentage of Farm Returns in Roanoke city, VA Over the Last 10 Years
Farm tax returns in Roanoke City, Virginia, have seen a decline from approximately 0.19% in 2012 to around 0.12% in 2021. These farm tax returns reflect agricultural-related income and expenses reported for tax purposes, serving as a proxy for the agricultural sector's health and activity in the region. A decreasing trend suggests a possible shift away from farming activities, potentially impacting local economic dynamics and land use. This might be of interest to investors, developers, or anyone considering moving to or doing business in Roanoke City, suggesting both a dip in agricultural investment opportunities and a potential increase in non-agricultural development activities.
Number of Mortgages by Occupancy Type in Roanoke city, VA Over the Last 5 Years in Roanoke city
In Roanoke city, Virginia, principal residence mortgages have consistently eclipsed those for investment and second residences over the past five years. While the number of principal residence mortgages surged to a peak in 2021, they have seen some decline since then. Conversely, investment property mortgages have shown gradual growth with occasional dips. Interestingly, second residence mortgages remain a minor part of the market but have experienced fluctuations. For investors and real estate professionals, an uptick in principal residence mortgages may indicate robust demand for primary homes, potentially driving up prices and competition. For appraisers and insurance agents, these patterns could signify a shifting risk landscape and property value trends. Analyzing these dynamics is crucial for anyone considering investments, relocation, or development in Roanoke city.
Economic Outlook
Roanoke city, Virginia has generally seen an upward trend in average taxable income per tax return, peaking at $60,134.99 in 2021, suggesting possible economic growth and a stronger job market. Additionally, the average state and local income taxes per tax return rose significantly, from around $5,246.57 in 2012 to about $13,900.00 in 2021. This steep increase could influence investment decisions and affordability. Meanwhile, the average total tax liability per tax return also climbed from... Read more
Average Taxable Income per Tax Return in Roanoke city, VA over the last 9 years
Over the past nine years, Roanoke city, Virginia has generally experienced an upward trend in average taxable income per tax return, peaking at $60,134.99 in 2021 despite slight dips in certain years. This suggests potential economic growth and possibly a stronger job market, benefiting those looking to invest in real estate or relocate for new job opportunities. Appraisers and insurance agents might find this pattern indicative of rising property values and a generally enhanced economic standing for residents.
Average State and Local Income Taxes Per Tax Return in Roanoke city, VA Over the Last 10 Years
Roanoke city, Virginia has seen a substantial rise in average state and local income taxes per tax return over the past decade, with values increasing from around $5,246.57 in 2012 to approximately $13,900.00 in 2021. This sharp uptick is noticeable post-2017, where figures jumped dramatically, more than doubling by 2018. Such trends could potentially impact investment decisions, property values, and the affordability for residents, prompting real estate agents and appraisers to reassess market dynamics, while insurance agents might need to adjust coverage considerations based on these changing economic factors.
Average Total Tax Liability Per Tax Return in Roanoke city, VA Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Roanoke city, Virginia, has shown a general upward trend, starting from around $7,589.07 in 2012 to approximately $9,856.88 in 2021. This rise may suggest increasing incomes or changes in tax policies affecting residents. For potential investors and property developers, this might indicate a growing economy or rising property values. Real estate agents and insurance agents might find this valuable when assessing the financial health of the community and advising clients on tax-related matters.
Cost of Living in Roanoke city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,272 | $1,416 | $1,609 | $1,614 | $1,239 |
| 1 adult 4 children | $1,272 | $1,156 | $1,228 | $1,614 | $1,371 |
| 2 adults 3 children | $1,272 | $1,156 | $1,397 | $1,614 | $1,025 |
| 1 adult 3 children | $1,272 | $944 | $1,016 | $1,614 | $1,144 |
| 2 adults 2 children | $927 | $947 | $1,185 | $1,409 | $850 |
| 1 adult 2 children | $927 | $707 | $804 | $1,409 | $827 |
| 2 adults 1 child | $927 | $748 | $974 | $743 | $757 |
| 1 adult 1 child | $927 | $483 | $593 | $743 | $654 |
| 2 adults | $752 | $601 | $762 | $0 | $577 |
| 1 adult | $677 | $328 | $381 | $0 | $500 |
Safety trends & Data
Roanoke, Virginia has experienced varied trends in property crime over the past five years, with notable shifts in larceny-theft and motor vehicle theft. Larceny-theft incidents spiked to 759 in 2019 before significantly dropping to 286 in 2022. Vehicle thefts have remained relatively steady, ranging from 47 to 56 cases annually. Vandalism rates have also fluctuated, peaking at 120 cases in 2020 and slightly declining to 99 in 2022. This data could be crucial for potential investors,... Read more
Property Crime Trends in Roanoke city, VA Over the Last 5 Years
Roanoke, Virginia has seen varied trends in property crime over the last five years, with notable fluctuations in larceny-theft and motor vehicle theft. Larceny-theft figures started at 679 incidents in 2018, spiking to a high of 759 in 2019 before dropping significantly to 286 in 2022. Vehicle thefts have remained relatively steady, ranging from 47 to 56 cases per year. Vandalism rates have fluctuated, peaking at 120 cases in 2020 but slightly dropping to 99 in 2022. For potential investors, appraisers, and insurance agents, understanding these dynamics can be crucial for risk assessment and decision-making. Real estate developers and agents may also find this data valuable for advising clients on neighborhood safety and property valuations.
Demographics
Roanoke city shows a higher female adult population when compared to males. The educational attainment data indicates that the majority have at least a high school diploma, though there's a substantial subset with some college education but no degree. Age-wise, the population skews slightly towards the younger spectrum with a noticeable dip in numbers from ages 35 to 44, while the 25 to 34 age bracket is relatively large. Racially, the city is predominantly White with a significant Black or... Read more
Race Distribution in Roanoke city, Virginia (2022)
Educational Attainment in Roanoke city, Virginia (2022)
Age Distribution in Roanoke city, Virginia
Citizen Population in Roanoke city, Virginia (2022)
Political Trends & Data
Roanoke City in Virginia leaned heavily Democratic in the 2020 U.S. Presidential Election, with Democrats potentially securing over 60% of the vote while Republicans might have captured around 36%. Minor parties, including Libertarians, scarcely registered with under 2% of the vote. This trend suggests Roanoke City could serve as a stronghold for Democratic candidates, potentially influencing future political strategies in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Roanoke City in Virginia leaned heavily Democratic in the 2020 U.S. Presidential Election, with Democrats potentially capturing over 60% of the vote. In contrast, Republicans might have secured around 36%, showing a significant gap between the two major parties. Minor parties, including Libertarians, scarcely registered with under 2% of the vote, indicating limited influence. This trend suggests Roanoke City could be a stronghold for Democratic candidates, which may influence future political strategies in the area.
36.02% of voters voted for the Republican party in the 2020 Presidential Election
61.80% of voters voted for the Democrat party in the 2020 Presidential Election
1.79% of voters voted for the Livertarian party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Roanoke City, Virginia has seen a notable decrease in its student-to-teacher ratio, dropping from 15 students per teacher in 2014 to approximately 12 per teacher in 2023. This trend towards smaller class sizes might be attractive for prospective residents and investors, suggesting an improvement in education quality. For real estate agents and appraisers, this could enhance property marketability, while builders and insurance agents might see this as a sign of a stable or... Read more
Student-to-teacher ratio in Roanoke City, Virginia over the last 10 years
Over the past decade, Roanoke City, Virginia has experienced a notable decrease in its student-to-teacher ratio, dropping from 15 students per teacher in 2014 to around 13 per teacher in 2022, and even further to approximately 12 per teacher in 2023. Initially, the ratios hovered above 15 students per teacher, slightly higher than the national average of 14 students per teacher. This trend could indicate a positive shift towards smaller class sizes, which may be attractive for prospective residents and investors, suggesting potentially better education quality. For real estate agents and appraisers, this trend might enhance the marketability of properties in the area, while insurance agents and builders might infer a stable or growing population interested in areas with improving educational metrics. Understanding these trends helps stakeholders make informed decisions regarding investments, property values, and economic opportunities within Roanoke City.
