Surry County Real Estate and Livability Trends
Surry County, Virginia has seen a notable increase in median home values from around $169,000 in 2015 to roughly $231,400 in 2022, outpacing national trends and suggesting promising investment opportunities. The county also shows strong economic indicators, with average taxable income per tax return growing to $60,496.83 in 2021. Additionally, fluctuations in residential energy tax credits... Read more
Surry County Market Trends
In Surry County, Virginia, median home values have grown strongly, rising from about $169,000 in 2015 to around $231,400 in 2022, outpacing national trends and possibly indicating more affordable but promising investment opportunities compared to the state's higher median values. There's been significant volatility in residential energy tax credits per tax return, highlighting a notable community... Read more
Median Value of Occupied Housing Units in Surry County, Virginia Over the Last 8 Years
Surry County, Virginia has experienced a consistent rise in median home values over the past eight years, from approximately $169,000 in 2015 to about $231,400 in 2022. This growth appears robust when compared to national trends, where the median value increased less dramatically from around $125,500 to $179,400 during the same period. Comparing Surry County to the state of Virginia shows a more moderate growth in the county; Virginia's median home values escalated from roughly $245,000 to $339,800. This data might suggest Surry County could offer relatively affordable options within the state, yet still presents a promising upward trend for potential property investors or new residents.
Residential Energy Tax Credit Per Tax Return in Surry County, VA Over the Last 9 Years
Surry County, Virginia has seen significant fluctuations in residential energy tax credits per tax return over the past nine years. Despite a relatively stable range from $320.00 to $450.00 between 2013 and 2016, there was a sharp increase to $1,900.00 in 2018, followed by a notable decrease to $1,060.00 in 2019. An upward trend returned in 2020 and 2021, peaking at $2,260.00. For potential investors, homeowners, or real estate professionals, these spikes can suggest responsive backing from residents towards energy-efficient home improvements, potentially signaling future incentives or policy changes. The data hints at varying levels of investment in residential energy projects, which might be indicative of the county's evolving priorities and market potential.
Average Real Estate Taxes Per Tax Return in Surry County, VA Over the Last 10 Years
Over the last decade, real estate taxes per tax return in Surry County, Virginia have shown a generally upward trend, with fluctuations that occasionally dip but typically rebound. Notably, there was a marked increase between 2017 and 2018, jumping from $2,162.64 to $2,480.65. This data suggests potential for rising property values and tax assessments, which matters for investors, real estate professionals, and new residents considering the area's financial landscape. With 2021 seeing the highest average at $2,588.00, stakeholders should be mindful of this consistent growth in tax obligations over time.
Percentage of Farm Returns in Surry County, VA Over the Last 10 Years
Over the last 10 years, Surry County, Virginia has seen fluctuations in the percentage of farm tax returns filed. Values range from a high of 3.46% in 2013 to a low of 2.56% in 2021. These returns reflect the health and activity level of local agriculture, a key consideration for investors, homebuilders, and newcomers assessing the area's economic vitality.
Number of Mortgages by Occupancy Type in Surry County, VA Over the Last 5 Years in Surry County
Changes in the number of mortgages by occupancy type in Surry County, Virginia, show a noticeable dominance in principal residence mortgages over the last five years, peaking at 498 in 2021. Investment property mortgages remain relatively low, fluctuating around the low teens, while second residence mortgages also show modest numbers, with a slight uptick in recent years. These trends could suggest a stable primary living market with limited but steady interest in investment and secondary properties. Such dynamics are crucial for potential investors, real estate agents, appraisers, and insurance agents as they reflect market demand and potential value growth opportunities in the area. Additionally, understanding these occupancy trends helps builders and those planning to move in shape strategic decisions on property developments and investments.
Economic Outlook
Surry County, Virginia has experienced a consistent rise in average taxable income per tax return, reaching $60,496.83 in 2021 from approximately $48,246.54 in 2013. Alongside this, state and local income taxes have also increased, growing from $3,843.30 in 2012 to $5,114.29 by 2021. Average total tax liabilities have similarly trended upwards, peaking at $7,476.26 in 2021 from $6,150.22 in 2012. These patterns might highlight economic growth or changes in tax rates, making the county... Read more
Average Taxable Income per Tax Return in Surry County, VA over the last 9 years
Surry County, Virginia has seen a steady incline in average taxable income per tax return over the last nine years, rising from approximately $48,246.54 in 2013 to around $60,496.83 in 2021. This upward trend is a signal of potentially growing economic health and may suggest increasing prosperity, making the area more attractive for investors and homebuyers. Some occasional dips, like the slight decrease seen in 2020, likely reflect larger economic conditions, but the overall growth trajectory seems promising for future development and investment opportunities.
Average State and Local Income Taxes Per Tax Return in Surry County, VA Over the Last 10 Years
Surry County, Virginia has experienced a notable increase in average state and local income taxes per tax return over the past decade. Starting at approximately $3,843.30 in 2012, the amount has grown steadily, reaching about $5,114.29 by 2021. This trend might signal economic growth or heightened tax rates, both of which could impact decisions related to real estate investment, property appraisals, and insurance considerations. Consequently, understanding these financial shifts is crucial for anyone looking to invest, move to, or conduct business in the area.
Average Total Tax Liability Per Tax Return in Surry County, VA Over the Last 10 Years
Over the past decade, Surry County, Virginia has seen fluctuating but generally increasing average total tax liabilities per tax return. Starting in 2012 at approximately $6,150.22, the figure peaked at $7,476.26 by 2021. These trends could be indicative of various economic factors such as rising income levels or changes in tax legislation, making Surry County a potentially compelling point of interest for investors, real estate agents, and those considering relocation.
Cost of Living in Surry County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,127 | $1,725 | $1,542 | $1,259 | $1,317 |
| 1 adult 4 children | $1,127 | $1,409 | $1,177 | $1,259 | $1,446 |
| 2 adults 3 children | $1,127 | $1,409 | $1,339 | $1,259 | $1,072 |
| 1 adult 3 children | $1,127 | $1,151 | $974 | $1,259 | $1,186 |
| 2 adults 2 children | $793 | $1,154 | $1,136 | $1,102 | $884 |
| 1 adult 2 children | $793 | $862 | $771 | $1,102 | $855 |
| 2 adults 1 child | $793 | $912 | $933 | $589 | $812 |
| 1 adult 1 child | $793 | $589 | $568 | $589 | $688 |
| 2 adults | $636 | $733 | $730 | $0 | $656 |
| 1 adult | $588 | $400 | $365 | $0 | $563 |
Safety trends & Data
Property crime trends in Surry County, Virginia, paint a fluctuating picture over the past five years. Vandalism remains the most consistent crime, peaking in 2020 before declining. Larceny-theft saw a substantial decrease post-2018, while motor vehicle theft spiked in 2020 but later subsided. Arson and burglary remain sporadic with minimal occurrences, and fraud and forgery incidents exhibit moderate variations. These trends could offer valuable insights for potential investors, real estate... Read more
Property Crime Trends in Surry County, VA Over the Last 5 Years
Property crime trends in Surry County, Virginia, show notable fluctuations over the past five years. The most consistent crime has been vandalism, though its frequency peaked in 2020 and then declined. Larceny-theft incidents saw a significant drop after 2018. Interestingly, motor vehicle theft spiked in 2020 but returned to lower levels in subsequent years. Arson and burglary remained sporadic with minimal occurrences, while fraud and forgery incidents have seen moderate rises and falls. These dynamics can provide valuable context for potential investors, real estate agents, and insurance agents evaluating risk and property value in the region.
Demographics
Surry County, Virginia's population shows a roughly balanced gender distribution with a slight tilt towards females. Educationally, high school graduates and those with some college comprise the largest segments, indicating a well-educated community. Age-wise, residents aged 55 to 64 years are notably the most populous group, perhaps suggesting an aging population. The racial composition is predominantly White and Black or African American, with minimal representation from other races, hinting... Read more
Race Distribution in Surry County, Virginia (2022)
Educational Attainment in Surry County, Virginia (2022)
Age Distribution in Surry County, Virginia
Citizen Population in Surry County, Virginia (2022)
Political Trends & Data
Surry County, Virginia, leaned towards the Democratic Party in the 2020 U.S. Presidential Election, possibly with a slight edge over the Republican votes. The Libertarian presence was minimal, while parties like the Green Party had virtually no influence, hinting at a largely bi-partisan political landscape with limited third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Surry County, Virginia, leaned towards the Democratic Party in the 2020 U.S. Presidential Election, with a possible slight edge over the Republican votes. The Libertarian presence was minimal, and other parties like the Green Party had virtually no influence. This trend perhaps suggests a predominantly bi-partisan political landscape with limited support for third-party candidates.
45.29% of voters voted for the Republican party in the 2020 Presidential Election
53.61% of voters voted for the Democrat party in the 2020 Presidential Election
0.89% of voters voted for the Livertarian party in the 2020 Presidential Election
0.20% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Surry County, Virginia, the student-to-teacher ratio has consistently been below the national average, dipping as low as 8:1 in recent years. This could suggest more personalized educational support, making the area attractive to families. For investors and developers, this focus on quality education might enhance the marketability of residential properties. Real estate agents can highlight these educational benefits to potential buyers, while appraisers and insurance agents might consider... Read more
Student-to-teacher ratio in Surry County, Virginia over the last 10 years
Over the past decade, Surry County, Virginia has consistently maintained a student-to-teacher ratio below the national average, with recent years showing ratios as low as eight students per teacher. This favorable ratio can be indicative of more individualized attention and greater educational support within classrooms, which may appeal to families considering a move to the area. For investors and developers, these educational metrics might imply a community prioritizing quality education, potentially enhancing the marketability of residential properties. Real estate agents could leverage this data to highlight the advantages of local schools. This trend could also be an essential consideration for appraisers, insurance agents, and anyone interested in understanding the socio-educational dynamics influencing the local housing market and community profile.
