Wise County Real Estate and Livability Trends
In Wise County, Virginia, median home values have risen moderately from $87,500.00 in 2015 to $108,000.00 in 2022, hinting at localized economic resilience and renewed investor interest despite modest growth compared to state and national figures. Residential energy tax credits saw significant fluctuations, peaking at $944.44 in 2021, likely due to increased energy-efficient home upgrades. Real... Read more
Wise County Market Trends
In Wise County, Virginia, median home values have risen moderately from $87,500 in 2015 to $108,000 in 2022, indicating a potential localized economic resilience and renewed investor interest. This growth, though modest compared to state and national figures, highlights the county's affordability and potential for entry-level real estate investments. The average residential energy tax credit per... Read more
Median Value of Occupied Housing Units in Wise County, Virginia Over the Last 8 Years
In Wise County, Virginia, median home values have seen a gradual increase from $87,500 in 2015 to $108,000 in 2022. While values here started on a slight decline, they have recently picked up, perhaps reflecting localized economic resilience or renewed investment interest. This contrasts with Virginia's more robust growth pattern, showing a jump from $245,000 to $339,800 over the same period, and the national surge from $125,500 to $179,400. Wise County's affordability, when compared to state and national averages, might present attractive opportunities for potential buyers and investors seeking lower entry points in real estate.
Residential Energy Tax Credit Per Tax Return in Wise County, VA Over the Last 8 Years
Over the last eight years, the average residential energy tax credit per tax return in Wise County, Virginia has shown some interesting fluctuations. After a slight dip in 2014, the credit amount gradually increased, particularly spiking in 2017 to $525.00 and reaching a notable high of $944.44 in 2021. This trend might suggest increasing adoption of energy-efficient home improvements in the county, potentially driven by rising awareness and incentives. For investors, real estate agents, and insurance professionals, this could indicate a growing emphasis on sustainable living among residents, which may influence property values and market dynamics.
Average Real Estate Taxes Per Tax Return in Wise County, VA Over the Last 10 Years
Wise County, Virginia has seen a notable increase in average real estate taxes per tax return over the past decade, rising from $1,297.78 in 2012 to $2,355.00 in 2021. This upward trend could suggest rising property values, potentially signaling a growing market for real estate investors and developers. For residents and those considering moving to the area, this increase might impact cost-of-living calculations. Real estate agents and appraisers might also see the effects reflected in market dynamics and property appraisals. Insurance agents may need to advise clients on adjusting coverage as property values increase.
Percentage of Farm Returns in Wise County, VA Over the Last 10 Years
Farm tax returns in Wise County, Virginia have seen fluctuating trends over the past decade, hovering around 1.1%. The highest percentage was roughly 1.24% in 2014, while it dipped to about 1.01% in 2020. These returns likely give a sense of the agricultural economic activities and could indicate the stability of the farming sector. For potential investors or those looking to start agricultural ventures, understanding these trends might be essential for gauging economic conditions and future prospects.
Number of Mortgages by Occupancy Type in Wise County, VA Over the Last 5 Years in Wise County
Over the last five years, Wise County, Virginia has seen varying trends in the number of mortgages taken out for investment properties, principal residences, and second residences. Principal residences consistently represent the majority of mortgages, peaking in 2021 with 1,075 counts. Investment properties and second residences have remained relatively low and stable in comparison. Fluctuations in the types of properties being financed could reflect changing economic conditions, lifestyle preferences, or investor confidence in the area. For those investing, relocating, or evaluating real estate in Wise County, understanding these trends can offer valuable insights into market demands and opportunities. Mortgage data is normalised, effectively surfacing patterns without distortion by absolute numbers.
Economic Outlook
In Wise County, Virginia, there's been a slow yet steady rise in average taxable income per tax return from $42,504.95 in 2013 to $49,778.58 in 2021, with marked increases between 2017-2018 and 2020-2021. During the same period, average state and local income taxes surged, particularly from 2018 to 2021, climbing from $7,796.97 to $9,233.33, potentially indicating higher incomes or new tax policies. Additionally, fluctuations in total tax liability per tax return showed peaks in 2012 and 2021... Read more
Average Taxable Income per Tax Return in Wise County, VA over the last 9 years
Wise County, Virginia has shown a gradual increase in average taxable income per tax return over the past nine years, growing from approximately $42,504.95 in 2013 to about $49,778.58 in 2021. Notable spikes occurred between 2017 and 2018, and again from 2020 to 2021, suggesting economic improvements that could benefit both residents and potential investors. This trends data might interest real estate agents, investors, and insurance agents assessing the economic health of the region, as well as prospective residents considering the area's financial viability.
Average State and Local Income Taxes Per Tax Return in Wise County, VA Over the Last 10 Years
Over the past decade, Wise County, Virginia has seen a significant rise in average state and local income taxes per tax return, particularly notable between 2018 and 2021 where figures jumped from approximately $7,796.97 to around $9,233.33. This trend may indicate increasing incomes or changes in tax policy, potentially affecting the cost of living and investment attractiveness of the region. Such insights could be crucial for stakeholders such as real estate agents, appraisers, insurance agents, and potential movers looking for a thorough understanding of the evolving financial landscape in Wise County.
Average Total Tax Liability Per Tax Return in Wise County, VA Over the Last 10 Years
Over the last decade, Wise County, Virginia has seen fluctuations in average total tax liability per tax return, with the highest observed in 2012 at approximately $6,187.95 and a similar peak in 2021 at around $6,185.73. While there were notable dips, such as in 2018 when the liability dropped to about $5,561.87, the overall trend shows a gradual recovery toward higher values. These changes suggest potential shifts in income levels and economic activity, important for investors, property developers, and real estate agents assessing the area's financial health and growth potential.
Cost of Living in Wise County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,133 | $1,424 | $1,512 | $997 | $1,018 |
| 1 adult 4 children | $1,133 | $1,163 | $1,154 | $997 | $1,128 |
| 2 adults 3 children | $1,133 | $1,163 | $1,313 | $997 | $837 |
| 1 adult 3 children | $1,133 | $949 | $955 | $997 | $870 |
| 2 adults 2 children | $823 | $952 | $1,114 | $871 | $692 |
| 1 adult 2 children | $823 | $711 | $756 | $871 | $632 |
| 2 adults 1 child | $823 | $752 | $915 | $461 | $669 |
| 1 adult 1 child | $823 | $486 | $557 | $461 | $584 |
| 2 adults | $680 | $604 | $716 | $0 | $586 |
| 1 adult | $611 | $330 | $358 | $0 | $509 |
Safety trends & Data
Property crime trends in Wise County, Virginia have been diverse over the past five years. Burglary incidents showed notable fluctuations, decreasing from 15.00 in 2018 to 7.00 in 2021 before spiking back to 17.00 in 2022. Larceny-Theft incidents consistently remained high but saw a significant drop from 60.00 in 2019 to 26.00 in 2020, with a small increase in subsequent years. Fraud incidents potentially grew, rising from 11.00 in 2020 to 24.00 in 2022. Vandalism cases also reportedly... Read more
Property Crime Trends in Wise County, VA Over the Last 5 Years
Property crime trends in Wise County, Virginia over the past five years show varying levels of activity across different categories. Burglary incidents fluctuated, starting at 15.00 in 2018, dipping to 7.00 in 2021, and then spiking back to 17.00 in 2022. Larceny-Theft remained consistently high but saw a notable decline from 60.00 incidents in 2019 to 26.00 in 2020, slightly rising again in subsequent years. Fraud incidents showed some growth, increasing from 11.00 in 2020 to 24.00 in 2022. Vandalism cases also saw an upward trend, jumping from 7.00 in 2020 to 27.00 in 2022. Overall, while some crime categories have seen reductions, others like fraud and vandalism are potentially becoming more prevalent.
Demographics
Wise County, Virginia shows a notably higher male adult population compared to female adults. The county's educational attainment reveals a significant majority holding a high school diploma or some college experience, but fewer residents possess higher education degrees. Age-wise, the county maintains a relatively even distribution across age groups, with a noticeable increase in those aged 55-64. Racially, the county is predominantly White with a small representation of other racial groups,... Read more
Race Distribution in Wise County, Virginia (2022)
Educational Attainment in Wise County, Virginia (2022)
Age Distribution in Wise County, Virginia
Citizen Population in Wise County, Virginia (2022)
Political Trends & Data
Wise County, Virginia's 2020 U.S. Presidential Election voting patterns show a strong Republican leaning with about 80.4% support. Democrats managed around 18.7%, indicating a significantly smaller base. Libertarian candidates hardly made a dent, capturing roughly 0.6% of the vote. This could imply challenges for political diversity and may affect local policies driven by a predominantly Republican... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Wise County, Virginia, the political landscape in the 2020 U.S. Presidential Election appeared to lean heavily Republican, with approximately 80.4% of the vote. Democrats garnered around 18.7%, while Libertarians received a much smaller fraction, about 0.6%. The data suggests that third-party candidates struggled to gain traction in this region.
80.45% of voters voted for the Republican party in the 2020 Presidential Election
18.72% of voters voted for the Democrat party in the 2020 Presidential Election
0.65% of voters voted for the Livertarian party in the 2020 Presidential Election
0.19% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wise County, Virginia has experienced fluctuations in its student-to-teacher ratio over the last decade, ranging from almost 15 students per teacher in 2014 and 2018 to under 12 in 2022. This ratio, typically close to or below the national average of 14, may imply a more favorable learning environment with potentially more individual attention per student. Such trends could be key for families prioritizing education, investors evaluating school quality, and educators planning staffing... Read more
Student-to-teacher ratio in Wise County, Virginia over the last 10 years
Over the last ten years, Wise County, Virginia has seen fluctuations in its student-to-teacher ratio, ranging from a high of almost fifteen students per teacher in 2014 and 2018, to a low of under twelve students per teacher in 2022. This student-to-teacher ratio is generally close to or below the national average of fourteen, which could imply a more favorable learning environment with potentially more individual attention per student. Such trends may be of interest to families considering relocating for educational reasons, investors examining the quality of local schools, real estate agents advising clients, and educators assessing staffing needs.
