West Virginia Real Estate and Livability Trends
West Virginia's real estate market is showing intriguing patterns. Average taxable incomes have risen from $48,960 in 2013 to $61,997 in 2021, alongside peak state and local income taxes of $14,029.22 in 2021. Median home values offer affordable investments, growing from $103,800 in 2015 to $145,800 in 2022, still below the national median of $179,400. Residential energy tax credits fluctuated,... Read more
West Virginia Market Trends
West Virginia's median home values have steadily risen from $103,800 in 2015 to $145,800 in 2022, offering a more affordable investment opportunity compared to the national median of $179,400 in 2022. Meanwhile, the state has experienced notable fluctuations in residential energy tax credits, with a dramatic spike peaking at $1,947.73 in 2018 and stabilizing at $946.05 by 2021, suggesting shifts... Read more
Median Value of Occupied Housing Units in West Virginia Over the Last 8 Years
West Virginia's median home values have shown consistent upward growth, increasing from $103,800 in 2015 to $145,800 in 2022. While this represents an overall healthy growth trajectory, the state's median home value remains considerably lower than the national median, which jumped from $125,500 in 2015 to $179,400 in 2022. This disparity suggests that West Virginia may still offer more affordable property investment opportunities compared to the broader U.S. market, potentially appealing to budget-conscious buyers or investors looking for lower initial capital outlays.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in West Virginia over the last 10 years
Active Loans 30-60 Days Past Due in West Virginia over the last 10 years in West Virginia
Perent of loans that are Active Loans 90-180 Days Past Due in West Virginia over the last 10 years in West Virginia
Residential Energy Tax Credit Per Tax Return in West Virginia Over the Last 9 Years
Over the last nine years, West Virginia has seen significant fluctuations in the average residential energy tax credit per tax return. From a fairly steady increase between 2013 and 2017, where the credit peaked at $509.20, there was a dramatic spike in 2018, with the credit surging to $1947.73. This was followed by a sharp correction in 2019 to around $605.41, with modest growth in subsequent years, reaching $946.05 in 2021. These trends suggest varying levels of incentives and possibly shifting government policies or consumer behavior towards energy-efficient home investments. Such variations can have implications for those considering property investments, energy-efficient upgrades, or those appraising property values in the state.
Average Real Estate Taxes Per Tax Return in West Virginia Over the Last 10 Years
In recent years, West Virginia has experienced a notable increase in average real estate taxes per tax return, roughly doubling from $1,499.54 in 2012 to $2,748.88 by 2021. This trend could signal substantial property tax hikes or shifting property market dynamics, impacting decisions for potential buyers, appraisers, and insurers. The significant uptick between 2017 and 2018 might warrant a closer look, possibly indicative of policy changes or economic factors affecting real estate. For those considering investments or relocations, understanding these fluctuations could be crucial in forecasting future financial commitments and property values.
Percentage of Farm Returns in West Virginia Over the Last 10 Years
West Virginia has seen slight variations in the percentage of farm tax returns over the last decade, generally floating around 1.8% to 1.9%. This steady trend highlights the region’s consistent reliance on agricultural activities despite minor fluctuations. For investors or those interested in rural property, it indicates a stable farming economy, which could suggest resilience in the agricultural sector. Farm tax returns provide insight into the number of entities engaged in farming and their economic contributions, essential for assessing regional economic health and investment potential.
Economic Outlook
West Virginia has experienced a notable increase in average taxable income per tax return, rising from about $48,960 in 2013 to approximately $61,997 in 2021. This uptick could be indicative of a stable economic environment, which may be attractive to investors and potential residents. Concurrently, the state has seen a significant rise in state and local income taxes, which nearly doubled between 2017 and 2018, peaking at $14,029.22 in 2021. Additionally, the total tax liability per tax return... Read more
Average Taxable Income per Tax Return in West Virginia over the last 9 years
Over the past nine years, the average taxable income per tax return in West Virginia has shown a notable upward trend. Starting at approximately $48,960 in 2013, it has gradually increased, particularly from 2017 onward, reaching around $61,997 in 2021. This steady growth could be appealing to potential investors, future residents, and real estate professionals, hinting at a relatively stable economic environment and possibly improving employment conditions in the state. However, these figures should be considered with caution, as they represent averages and may not reflect individual or localized economic conditions accurately.
Average State and Local Income Taxes Per Tax Return in West Virginia Over the Last 10 Years
Over the past decade, West Virginia has seen a significant increase in average state and local income taxes per tax return. Starting at around $6,899.80 in 2012, there was a steady, albeit fluctuating rise, peaking dramatically at $14,029.22 by 2021. Notably, from 2017 to 2018, there was a sharp jump, nearly doubling from $7,892.08 to $11,339.06. This trend may reflect broader economic shifts or policy changes, presenting a crucial consideration for investors, property developers, and real estate professionals evaluating the fiscal landscape of West Virginia.
Average Total Tax Liability Per Tax Return in West Virginia Over the Last 10 Years
Over the past decade, West Virginia has seen a general upward trend in average total tax liability per tax return. In 2012, the average was approximately $7,604.33, gradually increasing to around $9,454.43 by 2021. There were minor fluctuations, such as a dip in 2016 to $7,990.89 and a subsequent rise in 2017 to $8,449.48. This upward trend could suggest a growing economic base or changes in tax policy affecting residents. This data is relevant for financial planning, real estate assessments, and investment decisions, offering insight into economic conditions and fiscal responsibilities in West Virginia.
Cost of Living in West Virginia
Safety trends & Data
Over the past five years in West Virginia, property crime trends have shown notable shifts. Fraud had the highest incident count, peaking at 4,086 in 2018 before declining to 2,895 by 2022. Arson and embezzlement also saw significant decreases, with arson dropping from 234 in 2018 to 111 in 2022, and embezzlement falling from 264 to 107. Larceny-theft hit its lowest point in 2022 at 487 incidents. Motor vehicle thefts remained low, with noticeable drops in 2021 and 2022. These changes suggest a... Read more
Property Crime Trends in West Virginia Over the Last 5 Years
Over the past five years in West Virginia, property crime trends show fluctuations across multiple categories. Fraud consistently had the highest number of incidents each year, peaking in 2018 at 4,086 before gradually declining to 2,895 by 2022. Both arson and embezzlement saw notable decreases, with arson dropping from 234 in 2018 to 111 in 2022, and embezzlement falling from 264 to 107 over the same period. Larceny-Theft, while high throughout, reached its lowest in 2022 at 487. Interestingly, motor vehicle thefts were initially low and even saw a significant drop in 2021 and 2022. This data suggests a pivot in both the frequency and type of property crimes, potentially impacting investment decisions, property valuations, and insurance considerations in the area.
Demographics
West Virginia's demographic trends show a fairly balanced gender distribution with slightly more females than males. Educational attainment appears to be concentrated around high school graduates and those with some college but no degree, potentially highlighting areas for educational improvement. The age distribution suggests a substantial portion of the population is in the 45 to 64 age brackets, which might influence local healthcare and retirement services. Racially, the state remains... Read more
Race Distribution in West Virginia (2022)
Educational Attainment in West Virginia (2022)
Age Distribution in West Virginia
Citizen Population in West Virginia (2022)
Political Trends & Data
West Virginia's recent electoral trends suggest a strong leaning towards Republican candidates, with nearly 69% of the vote in the 2020 U.S. Presidential Election, potentially indicating a market less favorable to more progressive policies. This might influence local real estate by maintaining a status quo that favors traditional land use and development policies. Investors and developers considering entering this market should be aware of the relatively minimal support for third-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In West Virginia's 2020 U.S. Presidential Election, Republican candidates might have dominated with roughly 69% of the vote, while Democratic candidates possibly secured close to 30%. Libertarian candidates could have garnered around 1.3%, with Green Party candidates receiving about 0.3%. These trends could indicate a strong Republican foothold and relatively minimal support for third-party candidates in the state.
68.63% of voters voted for the Republican party in the 2020 Presidential Election
29.70% of voters voted for the Democrat party in the 2020 Presidential Election
1.34% of voters voted for the Libertarian party in the 2020 Presidential Election
0.33% of voters voted for the Green party in the 2020 Presidential Election
School Data
West Virginia's student-to-teacher ratio has consistently stayed around 13 over the past decade, lower than the national average of 14. This trend might hint at smaller class sizes and more personalized attention for students, which could be attractive to families considering relocation. For real estate agents and investors, this can be a selling point that potentially boosts property values. Appraisers and insurance agents might also note this data, as a lower student-to-teacher ratio may... Read more
Student-to-teacher ratio in West Virginia over the last 10 years
Over the past decade, West Virginia's student-to-teacher ratio has mostly hovered around 13, notably lower than the national average of 14 students per teacher. This trend might suggest smaller class sizes, potentially offering more individualized attention for students, which can be appealing for families considering a move to the area. For real estate agents and investors, this could be a selling point that enhances property values. Appraisers and insurance agents might also find this data useful, as a lower student-to-teacher ratio could correlate with community stability and educational quality. This context can influence various aspects of the housing market and local development.
