West Virginia Real Estate and Livability 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... in incentives or consumer behavior towards energy-efficient upgrades. Average real estate taxes have roughly doubled from $1,499.54 in 2012 to $2,748.88 in 2021, potentially due to policy changes or economic factors. Farm tax return percentages have remained stable around 1.8% to 1.9%, underlining a consistent agricultural economy. Read more

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... also shows an upward trend, increasing from around $7,604.33 in 2012 to about $9,454.43 in 2021. These trends highlight critical considerations for real estate professionals and investors assessing the fiscal landscape of West Virginia. Read more

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... shift in crime patterns, potentially affecting investment decisions, property valuations, and insurance considerations in West Virginia. Read more

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... predominantly White, with relatively small populations of other racial groups, possibly influencing cultural and social dynamics. Read more

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... candidates, which could mean less fluctuation in regulatory and policy environments. Read more

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... correlate with community stability and educational quality, impacting housing market dynamics and local development. Read more