Spotsylvania County Real Estate and Livability Trends
Spotsylvania County, Virginia, shows an interesting blend of economic growth, with average taxable income per tax return rising from around $64,905.74 in 2013 to about $84,077.28 in 2021, signaling potential prosperity. Median home values saw a significant uptick, jumping from $248,300 in 2015 to $349,900 in 2022, likely attracting investors. While real estate taxes increased and farm tax returns... Read more
Spotsylvania County Market Trends
Over the last eight years, Spotsylvania County, Virginia, has experienced a significant uptick in median home values, outpacing both national and state trends. From $248,300 in 2015 to $349,900 in 2022, this growth could pique the interest of potential investors. Energy tax credits in the county have seen dramatic fluctuations, peaking at $2,279.10 in 2021, signaling a possible local shift... Read more
Median Value of Occupied Housing Units in Spotsylvania County, Virginia Over the Last 8 Years
Over the last eight years, Spotsylvania County, Virginia has seen a consistent rise in median home values from $248,300 in 2015 to $349,900 in 2022. This increase appears more pronounced compared to both national and Virginia state trends, where the national median climbed from $125,500 to $179,400, and the state's median grew from $245,000 to $339,800 in the same timeframe. This relative outperformance could matter for potential investors or residents considering Spotsylvania County as it suggests a stronger local housing market.
Residential Energy Tax Credit Per Tax Return in Spotsylvania County, VA Over the Last 9 Years
Over the past nine years, Spotsylvania County, Virginia has seen significant fluctuations in the average residential energy tax credit per tax return, peaking at $2,279.10 in 2021 after a notable rise beginning in 2017. Investment in energy-efficient home upgrades appears to be increasing, reflecting perhaps greater awareness or incentives for energy efficiency. The dramatic spike in 2018 to $2,141.67 might indicate a major change in policy or larger scale adoption of energy-efficient technologies. Real estate professionals and potential property buyers might see this trend as indicative of a community moving towards greener living standards, which could influence housing desirability and market dynamics. Insurance agents and appraisers could consider the potential impact of these energy improvements on property values and risk calculations.
Average Real Estate Taxes Per Tax Return in Spotsylvania County, VA Over the Last 10 Years
Over the last decade, Spotsylvania County, Virginia has seen a notable increase in average real estate taxes per tax return. Beginning at $2,281.31 in 2012 and rising steadily to $3,254.11 by 2021, this upward trend might reflect growing property values and increased public investments in the area. For potential investors, builders, and real estate professionals, this trend suggests a robust property market but may also indicate higher costs of ownership over time. The significant jump between 2017 and 2018, reaching $3,141.47, could be especially noteworthy when assessing longer-term financial commitments.
Percentage of Farm Returns in Spotsylvania County, VA Over the Last 10 Years
Over the last decade, Spotsylvania County in Virginia has seen a slight decline in the percentage of farm tax returns, dropping from approximately 0.52% in 2012 to around 0.38% by 2021. A farm tax return is essentially the documentation farmers file to report their income and expenses for tax purposes, and a higher percentage typically indicates greater agricultural activity and economic contribution of the farming sector to the area. This trend could be valuable for investors and potential residents who focus on agricultural stability and local economic health when making decisions. It might suggest a shift in economic priorities or resources, signaling potential changes in land use and property development opportunities.
Number of Mortgages by Occupancy Type in Spotsylvania County, VA Over the Last 5 Years in Spotsylvania County
In Spotsylvania County, Virginia, over the last five years, the trend in mortgages shows a dominant preference for principal residences, with the highest count in 2021 at over 18,000 mortgages, while both investment properties and second residences have much lower numbers. The shift in occupancy types, especially in a pronounced decline of mortgages for principal residences by 2022, suggests changes in the local housing market, possibly spurred by economic fluctuations or demographic shifts. For investors and builders, understanding these dynamics is vital as they impact property values, rental income potential, and the demand for different housing types. Real estate agents and appraisers can use this data to guide clients more effectively, while insurance agents might adjust risk assessments based on occupancy types. For those moving to or already living in the area, these trends provide insight into community growth and housing stability.
Economic Outlook
In Spotsylvania County, Virginia, the average taxable income per tax return has risen from around $64,905.74 in 2013 to about $84,077.28 in 2021, reflecting a potentially prosperous economic environment. The average state and local income taxes per return also increased, suggesting rising incomes or adjustments in tax policies, with figures moving from approximately $5,298.88 in 2012 to about $8,607.76 in 2021. Additionally, the total tax liability per return went up from $9,530.90 in 2012 to... Read more
Average Taxable Income per Tax Return in Spotsylvania County, VA over the last 9 years
Over the last nine years, the average taxable income per tax return in Spotsylvania County, Virginia has seen a steady increase, rising from approximately $64,905.74 in 2013 to around $84,077.28 in 2021. This upward trend might attract potential investors and real estate developers, implying a generally prosperous economic environment. For appraisers and insurance agents, the growing income levels could influence property valuations and insurance premiums. Prospective residents may find the economic stability and consistent income growth appealing for long-term settlement. Real estate agents could leverage this data to highlight the financial health and upward trajectory of the area to buyers and sellers alike.
Average State and Local Income Taxes Per Tax Return in Spotsylvania County, VA Over the Last 10 Years
Over the past decade, Spotsylvania County, Virginia has seen a consistent increase in average state and local income taxes per tax return. In 2012, the average tax amount was approximately $5,298.88 and has steadily risen, reaching around $8,607.76 in 2021. This upward trend may reflect various factors such as rising incomes, changes in tax policies, or economic growth within the county, making it a critical point of consideration for potential investors, new residents, property developers, real estate agents, appraisers, and insurance agents.
Average Total Tax Liability Per Tax Return in Spotsylvania County, VA Over the Last 10 Years
Over the past decade, Spotsylvania County, Virginia has seen a steady increase in the average total tax liability per tax return, rising from $9,530.90 in 2012 to $13,039.53 in 2021. This trend reflects a growing financial commitment for residents, suggesting a possible rise in income levels or adjustments in tax policies. For investors and real estate agents, this upward trajectory might indicate a thriving local economy and higher property values. Insurance agents and appraisers can consider these figures as a sign of potentially increasing costs and risks in the area. This trend is worth noting for anyone considering a move to the county or any significant financial decisions there.
Cost of Living in Spotsylvania County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,002 | $1,584 | $1,492 | $2,121 | $2,048 |
| 1 adult 4 children | $2,002 | $1,294 | $1,137 | $2,121 | $2,212 |
| 2 adults 3 children | $2,002 | $1,294 | $1,296 | $2,121 | $1,796 |
| 1 adult 3 children | $2,002 | $1,057 | $941 | $2,121 | $1,995 |
| 2 adults 2 children | $1,600 | $1,060 | $1,100 | $1,845 | $1,432 |
| 1 adult 2 children | $1,600 | $791 | $746 | $1,845 | $1,528 |
| 2 adults 1 child | $1,600 | $837 | $904 | $948 | $1,164 |
| 1 adult 1 child | $1,600 | $541 | $550 | $948 | $1,150 |
| 2 adults | $1,406 | $673 | $709 | $0 | $920 |
| 1 adult | $1,383 | $367 | $354 | $0 | $873 |
Safety trends & Data
Spotsylvania County, Virginia has seen significant changes in property crime trends over the last five years, especially with larceny-theft dropping dramatically from 301 occurrences in 2018 to 29 in 2022. However, fraud remains a consistent issue, averaging around 54 cases per year, underscoring the need for ongoing awareness among businesses and residents. Vandalism remains unpredictable, averaging 18 incidents annually without a clear trend. These shifts present opportunities for real estate... Read more
Property Crime Trends in Spotsylvania County, VA Over the Last 5 Years
Spotsylvania County, Virginia has experienced significant fluctuations in property crime trends over the last five years, with notable reductions in some categories. Larceny-theft, historically the most common crime, has markedly decreased from 301 occurrences in 2018 to just 29 in 2022. Fraud, however, remains relatively stable, averaging around 54 cases annually, signaling a persistent risk for businesses and residents. Vandalism, although peaking in 2019 and 2020, shows no clear upward or downward trend, averaging around 18 incidents per year. These dynamics highlight emerging opportunities for real estate agents, appraisers, and investors to push for development in areas showing signs of improved security, while potential residents and developers should remain vigilant about fraud and encompassing security measures.
Demographics
Spotsylvania County, Virginia, reflects a slight gender imbalance, with females outnumbering males. The population's educational attainment shows a significant portion attaining high school diplomas, and a notable number holding bachelor's degrees. The age distribution suggests a rather even spread, though there could be a potential future impact on local services with the substantial 45 to 64 age group. Racially, the county is predominantly White, but there are noteworthy African American and... Read more
Race Distribution in Spotsylvania County, Virginia (2022)
Educational Attainment in Spotsylvania County, Virginia (2022)
Age Distribution in Spotsylvania County, Virginia
Citizen Population in Spotsylvania County, Virginia (2022)
Political Trends & Data
In Spotsylvania County, Virginia, the 2020 U.S. Presidential Election results suggested that Republican candidates likely held a slight lead with about 52% of the votes compared to Democrats' approximately 45%. This small margin could imply a Republican-leaning constituency, but the relatively close vote percentages might also indicate that the area could be more competitive than it appears, which may be relevant for future political campaigns and local real estate... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Spotsylvania County, Virginia, the 2020 U.S. Presidential Election results showed that Republican candidates possibly had a slight lead with approximately 52% of the votes, while Democrats garnered around 45%. Libertarians and other parties significantly lagged, hinting at limited third-party influence in this area. This distribution might suggest a Republican-leaning electorate in this locality, though the relatively small margin also indicates potential competitiveness between the two major parties.
52.33% of voters voted for the Republican party in the 2020 Presidential Election
45.55% of voters voted for the Democrat party in the 2020 Presidential Election
1.73% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Other party in the 2020 Presidential Election
School Data
Spotsylvania County, Virginia has seen its student-to-teacher ratio drop from 18 in 2014 to about 16 in 2023, despite a brief spike to over 17 in 2020. This ratio, still higher than the national average of 14, may imply larger class sizes and impact individualized student attention. For real estate investors and agents, these figures could influence property desirability and values, while insurance agents and appraisers might need to consider shifting educational... Read more
Student-to-teacher ratio in Spotsylvania County, Virginia over the last 10 years
Spotsylvania County, Virginia has seen a gradual decrease in its student-to-teacher ratio over the past decade, dropping from 18 in 2014 to about 16 in 2023. Although it briefly spiked to over 17 in 2020, the county's current ratio of around 16 remains notably higher than the national average of 14 students per teacher. This higher ratio could indicate larger class sizes, which may affect individualized attention for students, potentially making it a key factor for families considering relocation. For investors and real estate agents, these figures could impact property desirability and value. Insurance agents and appraisers may also need to account for changing educational demand in the area.
