Wythe County Real Estate and Livability Trends
Wythe County's average taxable income per tax return has jumped from $42,793.57 in 2013 to $53,992.72 in 2021, suggesting increased economic stability and higher disposable incomes. Real estate market activity reflects this, with median home values growing from $132,400 in 2021 to $157,100 in 2022, and energy tax credits peaking at $1,316.67 in 2019 indicating ongoing sustainable home... Read more
Wythe County Market Trends
Wythe County's real estate market shows a steady climb in median home values, jumping from $132,400 in 2021 to $157,100 in 2022, suggesting underlying potential for investment, especially given the higher trajectory in Virginia and national values. Energy tax credits averaged a peak of $1,316.67 in 2019, hinting at growing investments in sustainable home improvements. Real estate taxes have... Read more
Median Value of Occupied Housing Units in Wythe County, Virginia Over the Last 8 Years
Wythe County's median home values have shown a moderate yet steady increase over the past eight years, culminating in a significant jump from $132,400 in 2021 to $157,100 in 2022. This trajectory, although slower compared to Virginia's overall growth, suggests underlying potential for investment opportunities, especially when contrasted with Virginia's state values, which escalated from $245,000 in 2015 to $339,800 in 2022. National trends also exhibited a sharper rise, indicating that Wythe County might offer more affordable yet appreciating real estate compared to broader national and state levels.
Residential Energy Tax Credit Per Tax Return in Wythe County, VA Over the Last 8 Years
Over the past eight years, Wythe County, Virginia has seen a notable increase in the average residential energy tax credit per tax return, peaking at $1,316.67 in 2019 before slightly dipping in 2020 and then rising again to $1,163.64 in 2021. This trend might suggest growing investments in energy-efficient home improvements, aligning with broader environmental goals. Such data could be significant for potential investors, real estate agents, insurance agents, and homeowners considering the energy efficiency of properties in the area, as it hints at the increasing importance placed on sustainable living.
Average Real Estate Taxes Per Tax Return in Wythe County, VA Over the Last 10 Years
The average real estate taxes per tax return in Wythe County, Virginia have generally seen an upward trajectory over the past decade. Starting at $1,301.92 in 2012, there was a gradual increase until 2015, where the value spiked to $1,574.72. A more significant jump occurred between 2017 and 2018 when taxes leapt from $1,617.42 to $2,272.92. The most recent data for 2021 shows an average of $2,400.00. This steady rise could impact decisions for potential homeowners, investors, or real estate professionals considering the area. Insurance agents and appraisers might also find these trends useful when assessing property values and risk.
Percentage of Farm Returns in Wythe County, VA Over the Last 10 Years
Wythe County, Virginia has seen modest fluctuations in its percentage of farm tax returns over the past decade, with a peak at approximately 5.72% in 2016 and a noticeable decline to around 5.06% by 2020. Farm tax returns, essentially a measure of agricultural activity, serve as an essential indicator of the region's economic health and the vitality of its farming sector. Investors and potential residents might find this data insightful as it potentially reflects broader economic trends and land-use shifts that could influence property values and investment opportunities in Wythe County.
Number of Mortgages by Occupancy Type in Wythe County, VA Over the Last 5 Years in Wythe County
Mortgages for principal residences in Wythe County, Virginia have seen a fluctuating yet generally upward trend over the past five years, with notable increases in 2020 and 2021. Investment properties and second residences have remained comparatively low, with minor peaks and troughs. Variations in occupancy type can influence local real estate dynamics, affecting home values, rental market conditions, and even insurance considerations. Such trends might suggest shifting priorities among buyers, possibly driven by economic conditions or lifestyle changes, which could be pivotal for investors, appraisers, and anyone looking to build or sell property in the area.
Economic Outlook
Wythe County, Virginia has seen a significant rise in average taxable income per tax return, growing from $42,793.57 in 2013 to $53,992.72 in 2021, hinting at economic stability and higher disposable income. This trend could boost real estate opportunities and service demands but may also impact affordability due to the concomitant rise in state and local income taxes, which jumped from about $4,649.30 in 2012 to approximately $7,451.52 in 2021. The fluctuating total tax liability, peaking at... Read more
Average Taxable Income per Tax Return in Wythe County, VA over the last 9 years
Wythe County, Virginia has experienced a steady increase in the average taxable income per tax return over the past nine years, culminating in a significant rise from $42,793.57 in 2013 to $53,992.72 in 2021. This upward trend suggests a growing economic stability and potentially higher disposable income for residents, making the area an attractive option for investors, homebuyers, and businesses. Elevated average incomes might also mean a more robust housing market and increased demand for services, impacting appraisals, insurance premiums, and real estate opportunities.
Average State and Local Income Taxes Per Tax Return in Wythe County, VA Over the Last 10 Years
Over the past decade, Wythe County, Virginia has seen a notable upward trend in average state and local income taxes per tax return. Starting at about $4,649.30 in 2012, it gradually increased, peaking at approximately $7,451.52 in 2021. This rise hints at potential economic growth or increased earnings among residents, which could be a positive signal for investors and real estate agents considering the area. However, higher taxes might affect affordability and cost of living considerations for potential newcomers or property developers.
Average Total Tax Liability Per Tax Return in Wythe County, VA Over the Last 10 Years
Over the past decade, Wythe County, Virginia has witnessed a fluctuating trend in average total tax liability per tax return, with values ranging from $5,377.48 in 2012 to a peak of $6,905.45 in 2021. The highest increase occurred in the last year, suggesting a significant rise in tax obligations which may reflect broader economic changes or adjustments in local tax policies. These trends could interest potential investors and property developers by providing insight into the economic dynamics and fiscal responsibilities within the county.
Cost of Living in Wythe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $987 | $1,367 | $1,512 | $997 | $950 |
| 1 adult 4 children | $987 | $1,117 | $1,154 | $997 | $1,056 |
| 2 adults 3 children | $987 | $1,117 | $1,313 | $997 | $789 |
| 1 adult 3 children | $987 | $912 | $955 | $997 | $810 |
| 2 adults 2 children | $811 | $914 | $1,114 | $871 | $698 |
| 1 adult 2 children | $811 | $683 | $756 | $871 | $648 |
| 2 adults 1 child | $811 | $723 | $915 | $461 | $680 |
| 1 adult 1 child | $811 | $467 | $557 | $461 | $602 |
| 2 adults | $616 | $581 | $716 | $0 | $582 |
| 1 adult | $601 | $317 | $358 | $0 | $533 |
Safety trends & Data
Wythe County, Virginia has seen some fluctuations in property crime over the past five years. Larceny-theft, peaking at 71 incidents in 2022, remains a concern, while motor vehicle theft and fraud have shown varying trends. Notably, burglary incidents increased to 11 in 2022 after several quieter years. This information might be of interest to real estate agents, investors, and insurance professionals evaluating risk and opportunity in the... Read more
Property Crime Trends in Wythe County, VA Over the Last 5 Years
Wythe County, Virginia has experienced varying levels of property crime over the past five years. Larceny-theft remains the most common issue, peaking at 71 incidents in 2022. Notably, instances of motor vehicle theft have fluctuated, with a high of 14 in 2018 and a low of 2 in 2019. Fraud cases exhibit a similar pattern, decreasing from 32 in 2018 to 16 in 2020, before climbing again. Burglary incidents also show inconsistencies, rising to 11 in 2022 after several years of lower numbers. These trends could provide valuable insights for real estate agents, prospective investors, and insurance professionals assessing risk and opportunity in the area.
Demographics
Wythe County, Virginia's adult population reveals an almost equal gender split, with females being slightly more numerous. The education levels show a significant portion of residents have completed high school, while a smaller group has advanced degrees. The age distribution skews towards older demographics, particularly those aged 55 to 64 years. Racially, the county is predominantly White, with very small percentages of other racial groups. This demographic composition could impact community... Read more
Race Distribution in Wythe County, Virginia (2022)
Educational Attainment in Wythe County, Virginia (2022)
Age Distribution in Wythe County, Virginia
Citizen Population in Wythe County, Virginia (2022)
Political Trends & Data
Wythe County, Virginia, has shown a strong proclivity towards Republican candidates, with approximately 78% of votes in the 2020 U.S. Presidential Election possibly going to the GOP. Democrats trailed significantly, potentially securing about 21% of votes. Smaller parties, including the Libertarians, had a minimal presence, with just over 1% of the vote, highlighting the county's significant Republican... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wythe County, Virginia leaned heavily Republican in the 2020 U.S. Presidential Election, with nearly 78% of votes potentially going to the Republican candidate. Democrats followed distantly, potentially capturing around 21% of the vote. Smaller parties like the Libertarians had a minimal impact with just over 1%, while votes for other parties were practically negligible. This distribution suggests a strong Republican inclination among voters in this county.
77.84% of voters voted for the Republican party in the 2020 Presidential Election
20.85% of voters voted for the Democrat party in the 2020 Presidential Election
1.13% of voters voted for the Livertarian party in the 2020 Presidential Election
0.18% of voters voted for the Other party in the 2020 Presidential Election
School Data
Wythe County, Virginia, has seen its student-to-teacher ratio decline from about 16:1 in 2014 to around 13:1 in 2023. This reduction might attract families focused on individualized education, making the area potentially more appealing for real estate. Investors and developers could view this educational trend as a factor in stabilizing or even boosting property values. With smaller class sizes edging below the national average of 14:1, it suggests an enhanced educational environment that could... Read more
Student-to-teacher ratio in Wythe County, Virginia over the last 10 years
Over the past ten years, Wythe County, Virginia, has experienced a steady decline in its student-to-teacher ratio, falling from approximately 16 students per teacher in 2014 to around 13 students per teacher in 2023. This trend potentially makes the area more attractive for families prioritizing individualized attention in education and could be a selling point for real estate agents targeting young families. For investors and property developers, this change might implicate an increased desirability for residential properties, potentially stabilizing or boosting property values. Appraisers and insurance agents might see reduced risks associated with smaller class sizes, which can contribute to higher satisfaction and stability within the community. The ratio edging below the national average of 14 students per teacher in recent years suggests an enhanced educational environment, beneficial for anyone considering moving to or investing in Wythe County.
