Winchester city Real Estate and Livability Trends
In Winchester City, Virginia, average taxable income per tax return jumped from $56,201.96 in 2013 to $75,382.27 in 2021, hinting at a promising economic trajectory that could allure investors and property developers. Median home values rose significantly from $216,300 in 2015 to $299,900 by 2022, outpacing national trends. Real estate taxes also increased from $2,741.85 in 2012 to $4,377.42 in... Read more
Winchester city Market Trends
Since 2015, Winchester, Virginia has experienced a notable rise in median home values, increasing from $216,300 to $299,900 by 2022, outperforming the national trend. Residential energy tax credits have fluctuated but generally trended upwards, indicating possible growth in energy-efficient home improvements. Additionally, real estate taxes have steadily climbed from $2,741.85 in 2012 to... Read more
Median Value of Occupied Housing Units in Winchester city, Virginia Over the Last 8 Years
Over the last eight years, the median home values in Winchester, Virginia have consistently risen, starting at $216,300 in 2015 and reaching $299,900 in 2022. This upward trend not only surpasses the national median, which increased from $125,500 to $179,400 during the same period, but also closely trails behind the overall Virginia state median. Winchester's growth rate suggests it could be an attractive area for investors and new residents alike, offering notable value in a rising market.
Residential Energy Tax Credit Per Tax Return in Winchester city, VA Over the Last 9 Years
Winchester, Virginia has seen notable fluctuations in residential energy tax credits per tax return over the past nine years, with a significant peak in 2018 at $1,300.00. The credit amounts have generally trended upwards, reaching $1,122.22 in 2020 before stabilizing to $1,000.00 in 2021. This could indicate a growing investment in energy-efficient home improvements, presenting opportunities for investors and real estate agents focusing on green properties. For appraisers and insurance agents, understanding these trends may help better assess property values and risks related to energy efficiency.
Average Real Estate Taxes Per Tax Return in Winchester city, VA Over the Last 10 Years
The trend in Winchester city, Virginia shows a notable rise in average real estate taxes per tax return over the last decade, jumping from around $2,741.85 in 2012 to approximately $4,377.42 in 2021. This consistent increase suggests higher property values and potentially more investment into community infrastructure. For potential investors and real estate agents, this might indicate a growing market, while insurance agents could see rising property valuations. Those considering moving to or appraising property in the area should be aware of potentially higher annual costs.
Percentage of Farm Returns in Winchester city, VA Over the Last 10 Years
Over the past decade in Winchester city, Virginia, the percentage of farm returns has shown a gentle decline from 0.30% in 2012 to roughly 0.23% in 2021. Farm tax returns here encapsulate the specialized tax filings by agricultural enterprises, reflecting both the economic contribution and the prevalence of farming activities. For investors and real estate developers, this diminishing trend might signal shrinking agricultural activity, potentially shifting focus towards residential or commercial properties. For current residents or those considering moving here, it's an indicator of the evolving economic landscape, which might influence future job markets and community planning.
Number of Mortgages by Occupancy Type in Winchester city, VA Over the Last 5 Years in Winchester city
In Winchester city, Virginia, the number of mortgages for principal residences has substantially outnumbered those for investment and second properties over the past five years. There was a notable peak in mortgages for principal residences in 2021 with 1,504, compared to just 811 in 2022. Investment properties had a consistent trend until a peak in 2021 but saw a slight decline in 2022. Second residences remained minimal throughout. These shifts could influence property values, rental market supply, and could signal broader economic conditions, impacting decisions for investors, new residents, real estate professionals, and insurance agents.
Economic Outlook
In Winchester city, Virginia, average taxable income per tax return has jumped from $56,201.96 in 2013 to $75,382.27 in 2021, hinting at a promising economic trajectory that could allure investors and property developers. At the same time, state and local income taxes have nearly doubled from $7,731.91 in 2012 to $13,659.18 in 2021, featuring significant spikes in 2018 and 2019, which could influence investment and real estate decisions due to higher affordability concerns. Additionally,... Read more
Average Taxable Income per Tax Return in Winchester city, VA over the last 9 years
Over the last nine years, Winchester city, Virginia has seen a general increase in average taxable income per tax return, having risen from $56,201.96 in 2013 to $75,382.27 in 2021. This suggests a positive economic trend, which might appeal to investors and those interested in real estate development. The notable spike in 2021 could indicate robust economic resilience or growth opportunities, meriting attention from appraisers and insurance agents assessing property values and risks.
Average State and Local Income Taxes Per Tax Return in Winchester city, VA Over the Last 10 Years
Winchester city, Virginia has experienced a considerable increase in average state and local income taxes per tax return over the past decade. Starting from $7,731.91 in 2012, taxes have surged to $13,659.18 by 2021, with notable spikes around 2018 and 2019. This rising trend could impact decisions for those considering investing, moving, building property, or working in real estate within Winchester, as higher tax rates may affect overall affordability and financial planning.
Average Total Tax Liability Per Tax Return in Winchester city, VA Over the Last 10 Years
Over the past decade, Winchester city, Virginia has experienced some fluctuations in the average total tax liability per tax return. From a low of $10,520.75 in 2020 to a high of $13,030.00 in 2021, these figures seem to suggest varying economic conditions and policy impacts. The general upward trend, with a notable spike in 2016, might be of interest to prospective homeowners and investors looking to understand the financial climate of the region. Real estate agents, appraisers, and insurance agents could find this data useful when evaluating property values and preparing cost analyses for clients.
Cost of Living in Winchester city
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,570 | $1,492 | $1,587 | $1,606 | $1,428 |
| 1 adult 4 children | $1,570 | $1,218 | $1,211 | $1,606 | $1,585 |
| 2 adults 3 children | $1,570 | $1,219 | $1,378 | $1,606 | $1,202 |
| 1 adult 3 children | $1,570 | $995 | $1,002 | $1,606 | $1,346 |
| 2 adults 2 children | $1,246 | $998 | $1,169 | $1,409 | $990 |
| 1 adult 2 children | $1,246 | $745 | $793 | $1,409 | $1,018 |
| 2 adults 1 child | $1,246 | $789 | $961 | $769 | $900 |
| 1 adult 1 child | $1,246 | $509 | $585 | $769 | $793 |
| 2 adults | $977 | $633 | $752 | $0 | $672 |
| 1 adult | $892 | $346 | $376 | $0 | $588 |
Safety trends & Data
Winchester, Virginia has experienced notable fluctuations in property crime over the last five years, which might be of interest to investors and stakeholders. Larceny-Theft is the most prevalent category, peaking at 384 incidents in 2018, dropping to 248 in 2020, and then climbing back to 360 in 2022. Vandalism shows erratic trends with 48 reports in 2018 and 68 in 2021. Embezzlement saw a significant drop from 13 cases in 2021 to 5 in 2022. This dynamic and persistent landscape for... Read more
Property Crime Trends in Winchester city, VA Over the Last 5 Years
Winchester, Virginia has seen some notable fluctuations in property crime over the last five years, which might interest potential investors and stakeholders. Larceny-Theft consistently remains the highest category, peaking at 384 incidents in 2018 and dropping to 248 in 2020 before climbing back up to 360 in 2022. Vandalism also shows a varying trend, with 48 reports in 2018 and 68 in 2021, indicating potential erratic vandalism activities. On the other hand, embezzlement and forgery have combined significantly lower numbers, with embezzlement seeing a drop from 13 cases in 2021 to 5 in 2022. This data suggests a dynamic yet persistent landscape for property-related crimes that real estate professionals, insurance agents, and potential homeowners should carefully consider when evaluating risk and property value in Winchester.
Demographics
Winchester, Virginia showcases a balanced gender ratio with a slight tilt towards a higher female population. The educational attainment highlights a notable proportion of high school graduates and those with some college experience, suggesting a workforce that may primarily engage in occupations not requiring advanced degrees. Age-wise, a significant portion of the population falls within the working age brackets of 25-64 years, with a solid presence of younger individuals under 25, hinting at... Read more
Race Distribution in Winchester city, Virginia (2022)
Educational Attainment in Winchester city, Virginia (2022)
Age Distribution in Winchester city, Virginia
Citizen Population in Winchester city, Virginia (2022)
Political Trends & Data
Winchester City, Virginia, potentially exhibited a modest leaning toward Democratic candidates in the 2020 U.S. Presidential Election, with Democrats perhaps securing around 54.6% of the votes compared to Republicans' 43.1%. Meanwhile, Libertarians attracted about 1.8%. Although Democrats may have enjoyed a slight advantage, Republican support remained significant, indicating a competitive political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Winchester City, Virginia, the Democratic party possibly saw a slight edge in voter preference during the 2020 U.S. Presidential Election, capturing around 54.6% of the votes, while Republicans garnered about 43.1%. Minor parties like the Libertarians took in approximately 1.8%, with negligible support for others. This suggests a leaning toward Democratic candidates in this locality, though Republican support remained substantial.
43.10% of voters voted for the Republican party in the 2020 Presidential Election
54.57% of voters voted for the Democrat party in the 2020 Presidential Election
1.76% of voters voted for the Livertarian party in the 2020 Presidential Election
0.57% of voters voted for the Other party in the 2020 Presidential Election
School Data
Winchester City, Virginia has consistently reported a student-to-teacher ratio below the national average of 14:1, often hovering around 12:1 as of 2023. Smaller class sizes here may appeal to families and could influence property values, making the area more attractive to new residents. This trend could also be of interest to investors and real estate agents, as better educational outcomes are often linked to community desirability, thereby impacting property values and investment... Read more
Student-to-teacher ratio in Winchester City, Virginia over the last 10 years
Winchester City, Virginia has maintained a student-to-teacher ratio below the national average of 14 students per teacher over the past decade. The ratio has slightly fluctuated but has generally decreased, most recently dropping to around 12 students per teacher in 2023. This trend could indicate smaller class sizes, which might appeal to families moving to the area and could potentially influence property values. Investors and real estate agents might find this data valuable as smaller class sizes are often associated with better educational outcomes, making the area potentially more attractive for new residents. Additionally, for insurance agents and appraisers, changes in local educational quality can be an essential factor when evaluating community desirability and property values.
