Williamsburg city Real Estate and Livability Trends
Williamsburg, Virginia’s real estate market is presenting multiple intriguing trends. The median home values have notably risen from $320,600 in 2015 to $385,600 in 2022, possibly signalling an increasingly competitive market. Energy tax credits jumped from $200.00 in 2014 to $1,085.71 in 2021, suggesting rising incentives for energy-efficient properties, which could appeal to environmentally... Read more
Williamsburg city Market Trends
Williamsburg city, Virginia's real estate market has seen a notable rise in median home values, from $320,600 in 2015 to $385,600 in 2022, significantly outpacing both state and national trends. This potentially signals a more competitive and valuable market, appealing to investors and homebuyers eyeing property appreciation. Energy tax credits have surged from $200.00 in 2014 to $1,085.71 in... Read more
Median Value of Occupied Housing Units in Williamsburg city, Virginia Over the Last 8 Years
Williamsburg city, Virginia has shown an intriguing trend in median home values over the last eight years, moving from $320,600 in 2015 to $385,600 in 2022. Comparatively, the state of Virginia grew from $245,000 to $339,800 in the same period, while national median home values rose from $125,500 to $179,400. This places Williamsburg at a higher price point, indicating a potentially more competitive and valuable real estate market. This trend could be appealing to investors and homebuyers seeking appreciation, while also reflecting the area's desirability and economic conditions.
Residential Energy Tax Credit Per Tax Return in Williamsburg city, VA Over the Last 8 Years
Investing in property in Williamsburg city, Virginia, could offer substantial returns on residential energy improvements, with the average residential energy tax credit per tax return showing significant increases over the last eight years. From as low as $200.00 in 2014, these credits climbed sharply to $1,085.71 in 2021. This trend could indicate growing incentives for energy-efficient home upgrades, making it an appealing factor for real estate agents, appraisers, and those looking to build or invest in greener properties. The notable peaks in 2020 and 2021 suggest that homeowners and investors are increasingly capitalizing on these tax credits, which may reflect broader shifts towards sustainability and energy efficiency in the city.
Average Real Estate Taxes Per Tax Return in Williamsburg city, VA Over the Last 10 Years
Real estate taxes per tax return in Williamsburg city, Virginia, have shown a steady upward trend over the past decade, increasing from approximately $2,855.17 in 2012 to around $4,064.15 in 2021. This rise could indicate a growing demand or an increase in property values, which might be crucial for investors and real estate agents to consider. Prospective homebuyers and builders should be mindful of these tax trends, as they may affect overall affordability and long-term planning. The consistent increase could also be a key factor for appraisers and insurance agents evaluating property taxes in the region.
Number of Mortgages by Occupancy Type in Williamsburg city, VA Over the Last 5 Years in Williamsburg city
Williamsburg city, Virginia, shows significant fluctuation in mortgage counts over the last five years, with principal residences consistently dominating the totals. Interestingly, 2021 marked a peak year for principal residence mortgages at 700, while 2022 saw a sharp decline to 390. Investment property mortgages have generally increased, peaking in 2021 at 81 but dropping to 59 in 2022. Meanwhile, second residence mortgages have remained relatively stable but low in comparison. Shifts in occupancy types have crucial implications for investors, real estate agents, and property developers. For those considering investment properties, the rise in mortgage counts may suggest growing opportunities or competition. A predominance of principal residence mortgages often indicates a stable living environment, which could appeal to new residents and developers eyeing family-friendly communities. On the other hand, insurance agents and appraisers might interpret declining mortgage trends as a potential signal for market adjustments, impacting property valuations and risk assessments. Noting these trends can provide a nuanced understanding for anyone involved with or interested in Williamsburg's real estate market.
Economic Outlook
Williamsburg, Virginia, has seen a notable increase in average taxable income per tax return, jumping to $90,027.34 in 2021. This could indicate growing prosperity and potentially rising property values. The average state and local income taxes have also surged, reaching $11,740.00 in 2021, suggesting a higher cost of living. Real estate professionals and potential investors might see these trends as signals of economic stability and growth, making Williamsburg an increasingly attractive... Read more
Average Taxable Income per Tax Return in Williamsburg city, VA over the last 9 years
Average taxable income per tax return in Williamsburg, Virginia has shown a general upward trend over the past nine years. While there were slight dips in 2014 and 2016, the significant rise in 2021 to $90,027.34 suggests a growing prosperity in the area. Investors and real estate agents may find this trend encouraging, signaling potentially increasing property values and economic stability. For those considering moving to Williamsburg, this increase in income levels may also indicate a community capable of providing better amenities and services.
Average State and Local Income Taxes Per Tax Return in Williamsburg city, VA Over the Last 10 Years
In Williamsburg, Virginia, the average state and local income taxes per tax return have shown a notable upward trend over the past decade, jumping from approximately $6,210.71 in 2012 to about $11,740.00 in 2021. This consistent increase may suggest a rising cost of living and potentially higher incomes in the area, which could be a significant factor for investors and potential residents to consider. Additionally, insurance agents and real estate professionals might find this trend relevant as it could impact the affordability and attractiveness of properties in Williamsburg.
Average Total Tax Liability Per Tax Return in Williamsburg city, VA Over the Last 10 Years
Over the past decade, Williamsburg, Virginia, has generally experienced an upward trend in average total tax liability per tax return, with significant fluctuations. From 2012's $10,763.73 to 2021's $16,145.67, notable peaks occurred in 2015 and 2020. The data suggests possible economic growth or changes in tax policies, important for potential investors, real estate agents, and residents assessing financial commitments and living costs in the area.
Cost of Living in Williamsburg city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,793 | $1,725 | $1,579 | $1,784 | $1,764 |
| 1 adult 4 children | $1,793 | $1,409 | $1,205 | $1,784 | $1,886 |
| 2 adults 3 children | $1,793 | $1,409 | $1,372 | $1,784 | $1,476 |
| 1 adult 3 children | $1,793 | $1,151 | $997 | $1,784 | $1,631 |
| 2 adults 2 children | $1,283 | $1,154 | $1,164 | $1,563 | $1,100 |
| 1 adult 2 children | $1,283 | $862 | $790 | $1,563 | $1,158 |
| 2 adults 1 child | $1,283 | $912 | $956 | $846 | $975 |
| 1 adult 1 child | $1,283 | $589 | $582 | $846 | $865 |
| 2 adults | $1,098 | $733 | $749 | $0 | $759 |
| 1 adult | $1,077 | $400 | $374 | $0 | $662 |
Safety trends & Data
Property crime in Williamsburg city, Virginia, has shown mixed trends over the last five years, with larceny-theft peaking at 73 incidents in 2022. Vandalism notably doubled from 8 in 2021 to 18 in 2022, which might raise concerns for property owners and investors. While burglary numbers have remained relatively consistent, slight increases in fraud and embezzlement cases have been observed. Though motor vehicle theft appears infrequent, variations in forgery and counterfeiting could indicate... Read more
Property Crime Trends in Williamsburg city, VA Over the Last 5 Years
Property crime in Williamsburg city, Virginia, has shown mixed trends over the last five years. Larceny-theft remains the most common, peaking at 73 incidents in 2022. Notably, vandalism doubled from 8 in 2021 to 18 in 2022, suggesting potential concerns for property owners and investors. Burglary numbers have stayed relatively consistent, with slight increases in fraud and embezzlement cases observed. While motor vehicle theft appears infrequent, the rise in forgery and counterfeiting in different years may indicate varying economic or social pressures. These fluctuations underscore the importance for insurance agents, real estate professionals, and potential residents to keep abreast with the nuanced shifts in local crime patterns when making decisions.
Demographics
In Williamsburg, Virginia, males make up a slightly smaller portion of the adult population than females. The educational landscape shows a strong skew towards higher education, with a significant chunk holding bachelor's and graduate degrees. Age distribution highlights a prominent youth and young adult demographic, likely influenced by the presence of educational institutions. The racial composition is predominantly White, with smaller percentages of Black or African American and Asian... Read more
Race Distribution in Williamsburg city, Virginia (2022)
Educational Attainment in Williamsburg city, Virginia (2022)
Age Distribution in Williamsburg city, Virginia
Citizen Population in Williamsburg city, Virginia (2022)
Political Trends & Data
In Williamsburg City, Virginia, the 2020 U.S. Presidential Election indicated a notable Democratic preference, with Democrats potentially securing about 70% of the votes. Republicans trailed with around 28%, and other parties, such as Libertarians and independents, seemed to have minimal influence. This pattern might reflect a solid Democratic leaning in this urban electorate, possibly impacting local policies and community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Williamsburg City in Virginia showed a significant lean towards the Democratic party in the 2020 U.S. Presidential Election, with Democrats potentially capturing nearly 70% of the votes. Republicans seemed to gain close to 28% of the vote, while other parties, including Libertarians and independents, appear to have had a minimal impact. This trend might suggest a strong Democratic inclination within this urban voter base.
28.49% of voters voted for the Republican party in the 2020 Presidential Election
69.52% of voters voted for the Democrat party in the 2020 Presidential Election
1.34% of voters voted for the Livertarian party in the 2020 Presidential Election
0.65% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Williamsburg City, Virginia, the student-to-teacher ratio has decreased from 18:1 in 2014 to roughly 13:1 in 2023, dropping below the national average. This shift could signal smaller class sizes, potentially leading to better educational outcomes, which is crucial for investors, homebuyers, and real estate agents. Such improvements in educational resources may attract families, suggesting a stable or growing demand for residential properties. This trend is also worth noting for insurance... Read more
Student-to-teacher ratio in Williamsburg City, Virginia over the last 10 years
The student-to-teacher ratio in Williamsburg City, Virginia, has generally declined over the past decade, dropping from 18 students per teacher in 2014 to around 13 in 2023. This trend, especially as it settles below the national average of 14, could imply smaller class sizes and possibly more individualized attention for students. These factors are significant for potential investors, homebuyers, and real estate agents, as they often correlate with higher educational outcomes and can make the area more desirable. Insurance agents and appraisers may also find this data relevant when considering the overall quality of the community's amenities. For those building properties, this trend could indicate a stable or increasing demand for residential housing, as more families may be attracted to an area with improving educational resources.
