Addison County Real Estate and Livability Trends
Addison County, Vermont's real estate market has shown a notable increase in median home values, rising from $237,300 in 2015 to $311,200 in 2022, indicating a stronger demand and potentially appreciating property values. Average taxable income also climbed, reaching $84,769.11 in 2021, suggesting growing affluence that could further stimulate the housing market. Real estate taxes have risen to... Read more
Addison County Market Trends
In Addison County, Vermont, the median home value has surged from $237,300 in 2015 to $311,200 in 2022, outpacing state and national trends. Residential energy tax credits peaked at $4,050.00 in 2018 but plunged to $1,718.75 by 2020, possibly due to changing energy policies or fluctuating homeowner investments in energy efficiency. Real estate taxes have climbed steadily, hitting $8,288.29 in... Read more
Median Value of Occupied Housing Units in Addison County, Vermont Over the Last 8 Years
Over the past eight years, the median home value in Addison County, Vermont has seen a significant upward trend, jumping from $237,300 in 2015 to $311,200 in 2022. This increase appears to outpace both state and national averages. While Vermont's median value increased from $217,500 to $272,400, the national median value rose from $125,500 to $179,400 over the same period. This rapid increase in Addison County suggests it might be becoming a more sought-after area for buyers, making it an interesting option for real estate investments, new residents, or property developers.
Residential Energy Tax Credit Per Tax Return in Addison County, VT Over the Last 9 Years
Over the past nine years, Addison County, Vermont has seen notable fluctuations in the average residential energy tax credit per tax return, peaking at $4,050.00 in 2018 before dropping significantly to $1,718.75 in 2020. This variability might indicate changing energy policies or shifts in homeowner adoption of energy-efficient improvements. Investors, appraisers, and real estate agents could view the higher averages as a sign of a strong market for energy-efficient homes, whereas the declines might warrant a closer inspection of incentives or economic factors affecting local residents' abilities to invest in such upgrades.
Average Real Estate Taxes Per Tax Return in Addison County, VT Over the Last 10 Years
Over the past decade, Addison County, Vermont has experienced a noticeable increase in average real estate taxes per tax return. Starting in 2012 at around $5,205.27, these taxes have steadily risen, reaching approximately $8,288.29 by 2021. This uptick could indicate growing property values, potentially driven by a mix of market demand and local economic conditions. For investors, real estate agents, and those looking to buy properties, this trend suggests an appreciating market, while insurance agents and appraisers might see rising property assessments impacting their evaluations.
Percentage of Farm Returns in Addison County, VT Over the Last 10 Years
Over the past decade, Addison County, Vermont has seen a general decrease in the percentage of farm tax returns, dropping from roughly 2.78% in 2012 to approximately 2.22% in 2021. Farm tax returns are filed by farmers who report income received from farming operations and can reflect the economic health and viability of agriculture in the area. For those looking to invest in or build property in this region, these trends might signal changes in the local agricultural economy that could impact land values, business opportunities, and community development.
Number of Mortgages by Occupancy Type in Addison County, VT Over the Last 5 Years in Addison County
Over the past five years in Addison County, Vermont, the number of mortgages for principal residences has shown a mixed trend, with a notable increase in 2020 and a slight decrease thereafter. Investment properties have consistently had much lower mortgage counts compared to principal and second residences, suggesting limited investor activity or strict lending conditions. Meanwhile, second residence mortgages have remained relatively stable but at significantly lower volumes than principal residences. These dynamics might matter for potential investors and builders since fluctuations in principal residence mortgages could indicate changes in local housing demand and market stability. For appraisers and insurance agents, understanding these trends might influence property valuations and risk assessments, while real estate agents can tailor their strategies and advice to clients based on mortgage activity by occupancy type.
Economic Outlook
Addison County, Vermont, has seen a significant rise in average taxable income per tax return, reaching $84,769.11 in 2021 from $69,952.89 in 2020, suggesting growing affluence. Additionally, average state and local income taxes went from $5,117.07 in 2012 to $16,246.96 in 2021, indicating potential income growth or tax changes. The average total tax liability per tax return also increased to $13,294.79 in 2021. These trends are particularly useful for real estate professionals, potential... Read more
Average Taxable Income per Tax Return in Addison County, VT over the last 9 years
Addison County, Vermont, has seen a notable rise in average taxable income per tax return over the past nine years, culminating in 2021 with an impressive $84,769.11. This steady increase, particularly the jump from 2020's $69,952.89 to 2021, signals a potentially growing affluence in the area. For those considering investment or relocation, these trends could indicate a robust local economy with increasing household earnings. Real estate agents and appraisers might find this data useful when evaluating property values, while prospective homebuyers could view this growth as a sign of a prosperous community. Since taxable income is a key indicator, insurance agents may also use this information to tailor their services to higher-income brackets.
Average State and Local Income Taxes Per Tax Return in Addison County, VT Over the Last 10 Years
Over the past decade, Addison County, Vermont has seen a notable increase in the average state and local income taxes per tax return. In 2012, the average was approximately $5,117.07, steadily rising to an impressive $16,246.96 by 2021. This surge, particularly from 2017 onwards, could suggest factors such as increased income levels, changes in tax legislation, or demographic shifts influencing tax burdens. For anyone considering investing, moving to, or building property in the county, understanding this tax trajectory could be crucial for financial planning and property evaluations.
Average Total Tax Liability Per Tax Return in Addison County, VT Over the Last 10 Years
Over the past decade, Addison County, Vermont, has seen a notable upward trend in average total tax liability per tax return, moving from approximately $7,997.79 in 2012 to around $13,294.79 in 2021. This increase could signal rising incomes or adjustments in tax policies affecting residents. The most significant jump occurred between 2020 and 2021, where the average tax liability increased by over $3,000. This changing financial landscape is crucial for potential investors, real estate agents, and those considering moving to the area, as it might influence property values, investment returns, and overall cost of living.
Cost of Living in Addison County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,549 | $1,769 | $2,107 | $1,954 | $1,907 |
| 2 adults 3 children | $1,549 | $1,446 | $2,074 | $1,954 | $1,679 |
| 1 adult 4 children | $1,549 | $1,445 | $1,456 | $1,954 | $1,953 |
| 1 adult 3 children | $1,549 | $1,180 | $1,423 | $1,954 | $1,775 |
| 2 adults 2 children | $1,192 | $1,183 | $2,040 | $1,702 | $1,401 |
| 1 adult 2 children | $1,192 | $884 | $1,390 | $1,702 | $1,429 |
| 2 adults 1 child | $1,192 | $935 | $2,007 | $883 | $1,187 |
| 1 adult 1 child | $1,192 | $604 | $1,357 | $883 | $1,122 |
| 2 adults | $947 | $751 | $1,455 | $0 | $885 |
| 1 adult | $842 | $410 | $728 | $0 | $677 |
Safety trends & Data
Larceny-theft leads property crime in Addison County, Vermont, peaking at 35 cases in 2019 but fluctuating thereafter. Vandalism reached a high of 17 incidents in 2022. In contrast, burglary rates have generally declined, and motor vehicle theft remains low throughout. These crime trends could influence property values, insurance premiums, and local security measures, making them critical factors for potential investors, real estate agents, and community planners. Economic conditions and social... Read more
Property Crime Trends in Addison County, VT Over the Last 5 Years
Larceny-theft consistently leads property crime in Addison County, Vermont, peaking at 35 cases in 2019 but fluctuating thereafter. Vandalism also shows an uptick, reaching a high of 17 incidents in 2022. Meanwhile, burglary rates have seen a general decline, and motor vehicle theft remains notably low throughout. These trends might suggest a shifting landscape in property crime, possibly driven by changing social behaviors or economic conditions. Potential investors, real estate agents, and community planners should take note, as these patterns could influence property values, insurance premiums, and local security measures.
Demographics
Addison County, Vermont, exhibits intriguing demographic trends with a notably balanced gender distribution and a diverse age range. The gender split is nearly even, though females slightly edge out males. Educational attainment reveals a high percentage of residents with at least a high school diploma, and many hold bachelor's or higher degrees. The county's age distribution is spread fairly evenly, with significant populations in both younger and older age groups, indicating a blend of... Read more
Race Distribution in Addison County, Vermont (2022)
Educational Attainment in Addison County, Vermont (2022)
Age Distribution in Addison County, Vermont
Citizen Population in Addison County, Vermont (2022)
Political Trends & Data
Addison County, Vermont, exhibited a noticeable Democratic leaning during the 2020 U.S. Presidential Election, with around 67% of the vote favoring Democratic candidates. Republicans, garnering roughly 29%, appear less influential here. Minor parties like the Libertarians and Greens collectively managed just over 1% of the vote, hinting at the challenges smaller parties face in this predominantly two-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Addison County, Vermont, the 2020 U.S. Presidential Election saw a significant lean towards Democratic candidates, with approximately 67% of the vote. Republicans trailed significantly at around 29%, showcasing a clear preference for more liberal policies in this area. Minor parties like the Libertarians and Greens gathered minimal support, collectively representing just over 1% of the vote, suggesting these smaller parties might struggle to gain traction in such a predominantly two-party oriented political landscape.
29.04% of voters voted for the Republican party in the 2020 Presidential Election
66.73% of voters voted for the Democrat party in the 2020 Presidential Election
1.10% of voters voted for the Livertarian party in the 2020 Presidential Election
0.31% of voters voted for the Green party in the 2020 Presidential Election
2.82% of voters voted for the Other party in the 2020 Presidential Election
School Data
Addison County, Vermont's student-to-teacher ratio has hovered around 10 to 11 students per teacher over the past decade, peaking at just over 12 in 2016. This ratio remains below the national average of 14 students per teacher, potentially appealing to families looking for more individualized education. For real estate investors, this could make the area’s residential developments more attractive, while local educators might use this data for better planning and resource... Read more
Student-to-teacher ratio in Addison County, Vermont over the last 10 years
Addison County, Vermont has seen fluctuations in its student-to-teacher ratio over the past decade. Starting at approximately 10 students per teacher in 2014, the ratio peaked to just over 12 in 2016 but has generally oscillated around 10 to 11 students per teacher more recently. It is consistently below the current national average of 14 students per teacher, suggesting smaller class sizes, which might appeal to families seeking a more personalized education experience for their children. For potential investors, this trend could enhance the attractiveness of residential developments. Meanwhile, educators and policymakers in the county may leverage this information for planning and resource allocation purposes.
