Washington Real Estate and Livability Trends
Median home values in Washington have surged from $259,500 in 2015 to $473,400 in 2022, far outpacing the national median. Real estate taxes also saw a steady climb, rising from about $4,103 in 2012 to $7,781 in 2021. Farm tax returns have slightly declined, suggesting a shift away from traditional farming. These trends indicate a dynamic and potentially lucrative real estate market but underline... Read more
Washington Market Trends
Median home values in Washington have seen a dramatic rise, from $259,500 in 2015 to $473,400 in 2022, outpacing the national median significantly. Residential energy tax credits in the state hit a high of $4,628.31 in 2018 before stabilizing, potentially reflecting changes in energy policies. Real estate taxes have steadily increased over the past decade, rising from about $4,103 in 2012 to... Read more
Median Value of Occupied Housing Units in Washington Over the Last 8 Years
Median home values in Washington have seen a significant upward trend over the last eight years, escalating from $259,500 in 2015 to $473,400 in 2022. This sharp increase, especially when compared to the national median value which rose from $125,500 to $179,400 during the same period, suggests a more robust housing market in Washington. For potential investors, homebuyers, and stakeholders, this could indicate a strong appreciation in property values, pointing to a lucrative opportunity, and a dynamic real estate environment.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Washington over the last 10 years
Active Loans 30-60 Days Past Due in Washington over the last 10 years in Washington
Perent of loans that are Active Loans 90-180 Days Past Due in Washington over the last 10 years in Washington
Residential Energy Tax Credit Per Tax Return in Washington Over the Last 9 Years
Average residential energy tax credits in Washington have varied significantly over the last nine years, with a noteworthy spike in 2018 where the average credit soared to $4,628.31 per tax return. Despite this surge, the trend stabilized somewhat in the following years, maintaining higher averages compared to earlier figures, such as $1,434.55 in 2019 and $1,527.79 in 2021. These fluctuations could reflect changes in energy policies or incentives, highlighting the importance for investors, property developers, and insurance agents to stay updated on local energy efficiency programs, which are critical for financial planning and property valuation.
Average Real Estate Taxes Per Tax Return in Washington Over the Last 10 Years
Real estate taxes in Washington have seen a gradual and steady increase over the past decade, with a notable spike starting in 2018. Average taxes per tax return rose from approximately $4,103 in 2012 to about $7,781 in 2021. This upward trend, particularly the significant jump between 2017 and 2018, could be indicative of rising property values or changing tax policies. These trends might be critical for potential investors and homebuyers as they suggest increasing costs associated with property ownership in the state. Additionally, real estate professionals and insurance agents might find these insights valuable for accurate appraisals and policy adjustments.
Percentage of Farm Returns in Washington Over the Last 10 Years
Farm tax returns in Washington have shown a gradual decline over the last 10 years, dipping from approximately 0.77% in 2012 to around 0.57% in 2021, with a slight uptick in 2020 to 0.56%. Farm tax returns could be a useful metric for assessing agricultural activity and investment attractiveness in the area, implying a waning interest or profitability in traditional farming sectors. Investors and prospective property builders might see this as either a risk in the agricultural sector or an opportunity for diversification into more profitable ventures. If living in or moving to Washington, this trend might impact local employment and the economic landscape, particularly in rural regions.
Economic Outlook
In Washington, the average taxable income per tax return has jumped from $68,890.99 in 2013 to $118,913.24 in 2021, mirroring economic growth and possibly making the state an attractive option for investors and new residents. During the same period, average state and local income taxes per return went from $8,888.94 to $20,415.26, reflecting rising economic trends and the booming tech sector. Furthermore, the average total tax liability per return surged from $12,419.33 to $23,058.72 over the... Read more
Average Taxable Income per Tax Return in Washington over the last 9 years
Over the past nine years, the average taxable income per tax return in Washington has displayed a marked and consistent upward trend. Starting at approximately $68,890.99 in 2013, it has surged to around $118,913.24 by 2021. This consistent increase may reflect ongoing economic growth in Washington, potentially making the state an attractive prospect for investors, property developers, and new residents seeking to capitalize on the region's financial momentum.
Average State and Local Income Taxes Per Tax Return in Washington Over the Last 10 Years
Over the last decade, average state and local income taxes per tax return in Washington have seen a steady rise, moving from approximately $8,888.94 in 2012 to about $20,415.26 in 2021. This consistent increase nearly mirrors broader economic trends and possibly reflects the region’s economic growth, burgeoning tech sector, and rising property values. For investors, real estate agents, insurance agents, appraisers, and anyone considering moving to or living in Washington, understanding these tax trends could be critical for financial planning and decision-making.
Average Total Tax Liability Per Tax Return in Washington Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Washington has shown a steady incline, with a noticeable surge from $12,419.33 in 2012 to an impressive $23,058.72 in 2021. This upward trend is critical for investors and prospective residents, as it could impact financial planning and affordability. Real estate agents, insurance agents, and appraisers should be aware of these figures, as they play a key role in assessing property values and calculating potential returns. For those building or acquiring property, understanding these tax liability dynamics can provide valuable insights into future financial commitments.
Cost of Living in Washington
Safety trends & Data
Property crime trends in Washington State over the last five years show interesting dynamics that matter to investors and insurance agents. Fraud, a major issue, fell from $20,000.00 in 2018 to roughly $12,455.00 by 2021. Embezzlement and motor vehicle theft are less prevalent, with embezzlement peaking at $755.00 in 2018 and dropping to $315.00 in 2022, and motor vehicle theft rarely exceeding $62.00. Larceny-theft and vandalism remain significant, consistently reporting over $4,000.00 and... Read more
Property Crime Trends in Washington Over the Last 5 Years
Property crime trends in Washington show significant fluctuations over the last five years. Fraud consistently tops the chart, with figures hovering around 20,000.00 in 2018 and showing a marked drop to approximately 12,455.00 by 2021. Interestingly, embezzlement and motor vehicle theft are not as prevalent, with embezzlement peaking at 755.00 in 2018 and dropping to 315.00 in 2022, while motor vehicle theft demonstrates relatively low values, barely exceeding 62.00 at any point. Larceny-Theft and vandalism also present high numbers, consistently reporting over 4,000.00 and 4,600.00 incidents respectively, indicating a sustained concern in these areas. These trends are key for potential investors, builders, and insurance agents to understand the risks and factors influencing property values and safety in Washington State.
Demographics
Washington's adult population balances quite evenly between males and females. The state’s education levels show diversity, with sizable portions holding bachelor's degrees and having some college experience, highlighting a relatively educated workforce. Age-wise, there's a robust population under 35, indicating a potentially dynamic and young demographic. The racial makeup is predominantly White but includes significant Asian and African American communities, pointing to a diverse cultural... Read more
Race Distribution in Washington (2022)
Educational Attainment in Washington (2022)
Age Distribution in Washington
Citizen Population in Washington (2022)
Political Trends & Data
Washington state might be showing a notable trend towards the Democratic Party, as suggested by approximately 57.97% of the votes leaning blue in the 2020 U.S. Presidential Election. The Republican Party appears to have received about 38.77% of the voter share, indicating a smaller, yet substantial, portion of the electorate. Third-party candidacies, including those from Libertarian and Green parties, likely made a minimal impact, hinting at a strong two-party presence in the political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Washington state, the 2020 U.S. Presidential Election results possibly show a lean towards the Democratic Party, which appears to have garnered around 57.97% of the votes. Republicans might have acquired approximately 38.77%, indicating a significant, but smaller, portion of the electorate. Third-party candidates, including Libertarians and Greens, seem to have captured a minimal share, suggesting a predominantly two-party competition in this region.
38.77% of voters voted for the Republican party in the 2020 Presidential Election
57.97% of voters voted for the Democrat party in the 2020 Presidential Election
1.97% of voters voted for the Libertarian party in the 2020 Presidential Election
0.45% of voters voted for the Green party in the 2020 Presidential Election
0.85% of voters voted for the Other party in the 2020 Presidential Election
School Data
Washington state has seen its student-to-teacher ratio peak at 19 students per teacher in 2020, well above the national average of 14, before dipping to 17 in 2022 and rising again to over 18 in 2023. This fluctuation might be something for investors and real estate agents to consider, as it could influence perceptions of the local educational system's quality and potentially impact property values. Additionally, appraisers and insurance agents should watch for these trends, as they could... Read more
Student-to-teacher ratio in Washington over the last 9 years
Washington state has experienced fluctuations in its student-to-teacher ratio over the past nine years. At its peak in 2020, the ratio reached 19 students per teacher, significantly above the national average of 14. It saw a dip in 2022 to about 17 students per teacher but rose again in 2023 to over 18. This trend might be a factor investors and real estate agents will want to consider, as higher ratios could influence perceptions of the local educational system's quality, potentially impacting property values and demand. Moreover, appraisers and insurance agents should be aware of these shifts, as they could indirectly affect risk assessments and property appraisals.
