Fayette County Real Estate and Livability Trends
In Fayette County, West Virginia, there's been a consistent increase in taxable income and housing values, suggesting economic growth that could bolster disposable incomes and local real estate markets. The median housing value surged from $77,100 in 2015 to $103,200 in 2022. Despite the rise in real estate taxes, possibly from tax policy shifts or higher property values, the area still offers... Read more
Fayette County Market Trends
In Fayette County, West Virginia, the median value of occupied housing units has jumped from $77,100 in 2015 to $103,200 in 2022, showing stronger growth than the state average, albeit still under national levels. Residential energy tax credits in the county nearly tripled from $430.00 in 2017 to $1,438.46 in 2021, highlighting a significant push towards energy efficiency. Real estate taxes... Read more
Median Value of Occupied Housing Units in Fayette County, West Virginia Over the Last 8 Years
In Fayette County, West Virginia, the median value of occupied housing units has shown a progressive increase over the past eight years, rising from $77,100 in 2015 to $103,200 in 2022. This is a more pronounced growth compared to West Virginia's overall increase from $103,800 to $145,800 in the same period. However, Fayette County's median home values remain significantly lower than the national median, which surged from $125,500 to $179,400. For potential investors or those considering a move, this suggests Fayette County could offer more affordable opportunities relative to state and national averages while still experiencing steady value appreciation.
Residential Energy Tax Credit Per Tax Return in Fayette County, WV Over the Last 8 Years
Residential energy tax credits in Fayette County, West Virginia, have seen a compelling upward trend over the past eight years, especially notable from 2017 onwards. The average credit per tax return nearly doubled from $430.00 in 2017 to $725.00 in 2020, and then impressively reached $1,438.46 in 2021. This surge suggests a growing investment in energy-efficient home improvements and renewable energy sources among homeowners. For potential investors or those moving to the area, this indicates a community increasingly committed to sustainability, which could enhance property values and living standards. Insurance agents and appraisers might find this trend key, as energy-efficient homes often correlate with lower risk and higher valuations.
Average Real Estate Taxes Per Tax Return in Fayette County, WV Over the Last 10 Years
Real estate taxes in Fayette County, West Virginia, have shown a notable upward trend over the last decade, peaking sharply in 2018 at $2228.57 and remaining relatively high since. This implies a considerable increase in property-related expenses for homeowners, possibly reflecting rising property values or changes in tax policies. Such trends might impact investment decisions, property appraisals, and insurance rates, making it crucial for stakeholders to stay informed about these shifts.
Percentage of Farm Returns in Fayette County, WV Over the Last 10 Years
Farm tax returns in Fayette County, West Virginia, have shown a steady, albeit modest, increase over the past decade. Starting from 0.90% in 2012, the percentage of farm returns has incrementally risen to approximately 1.06% by 2021. This gradual uptick could indicate a slow but consistent growth in the agricultural sector within the county. For potential investors, builders, and residents, understanding this data might suggest a stable interest and activity in local farming. Farm tax returns, in essence, reflect the financial disclosures farmers make to report their income and expenses, which can be an indicator of economic health in this sector. This trend might also speak to an evolving economic landscape that could be attractive for those considering engaging in agricultural investments or moving to Fayette County.
Number of Mortgages by Occupancy Type in Fayette County, WV Over the Last 5 Years in Fayette County
Over the past 5 years in Fayette County, West Virginia, there has been a noticeable shift in the number of mortgages by occupancy type. While principal residence mortgages consistently lead, there is a subtle increase in investment property mortgages, which may suggest a growing interest in real estate investment. The second residence category remains quite low and stable, indicating limited demand for vacation homes. Changes in occupancy type are important as they can signal shifts in the real estate market dynamics, influencing property values, rental demand, and local economic health. For investors, this trend might highlight emerging opportunities, while for homeowners and real estate professionals, it can provide insights into housing market stability and potential growth areas.
Economic Outlook
In Fayette County, West Virginia, the average taxable income per tax return has gradually increased over the past nine years, hitting $48,686.60 in 2021. Additionally, state and local income taxes have surged significantly, rising from $6,045.79 in 2012 to $10,956.00 in 2021. The fluctuations in total tax liability per tax return, peaking at about $6,206.82 in 2021, suggest economic shifts that could influence real estate market dynamics. This data points to potential increases in disposable... Read more
Average Taxable Income per Tax Return in Fayette County, WV over the last 9 years
In Fayette County, West Virginia, average taxable income per tax return has shown a general upward trend over the past nine years, reaching $48,686.60 in 2021. This gradual increase reflects a potentially healthier economic environment, attracting investors and property developers. Real estate agents might find this data useful for market analysis, while appraisers and insurance agents can leverage these insights to better understand property values and associated risks. This trend suggests a possible increase in disposable income, which could lead to greater demand for housing and local services.
Average State and Local Income Taxes Per Tax Return in Fayette County, WV Over the Last 10 Years
In Fayette County, West Virginia, over the past decade, average state and local income taxes per tax return have shown a notable upward trajectory. Starting from $6,045.79 in 2012, the figure fluctuated slightly until 2017, but saw substantial jumps to $8,259.38 in 2018 and a dramatic rise to $10,956.00 by 2021. This trend suggests a potential increase in income levels or changes in tax policies, which could impact various stakeholders such as investors, real estate agents, and current or prospective residents. This data may indicate a growing economic environment, but it requires careful consideration for future financial planning in the area.
Average Total Tax Liability Per Tax Return in Fayette County, WV Over the Last 10 Years
Over the last decade, Fayette County, West Virginia has exhibited fluctuations in average total tax liability per tax return, with noticeable peaks in 2015 and 2021, reaching up to approximately $5,733.51 and $6,206.82 respectively. A decline was observed around 2016 and 2020, where averages hovered around $5,414.44. These shifts in tax liability may hint at larger economic changes in the region, impacting financial decisions for potential investors, homeowners, and insurance agents, particularly those interested in long-term stability and tax implications.
Cost of Living in Fayette County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,075 | $1,315 | $3,199 | $1,256 | $1,745 |
| 1 adult 4 children | $1,075 | $1,074 | $2,456 | $1,256 | $1,698 |
| 2 adults 3 children | $1,075 | $1,074 | $2,771 | $1,256 | $1,404 |
| 1 adult 3 children | $1,075 | $877 | $2,028 | $1,256 | $1,381 |
| 2 adults 2 children | $799 | $879 | $2,342 | $1,091 | $1,119 |
| 1 adult 2 children | $799 | $657 | $1,599 | $1,091 | $1,004 |
| 2 adults 1 child | $799 | $695 | $1,914 | $556 | $980 |
| 1 adult 1 child | $799 | $449 | $1,171 | $556 | $753 |
| 2 adults | $624 | $558 | $1,486 | $0 | $779 |
| 1 adult | $551 | $305 | $743 | $0 | $575 |
Safety trends & Data
Property crime in Fayette County, West Virginia, has seen notable fluctuations over the past five years, with larceny-theft peaking at 161 incidents in 2020 and remaining the most prevalent crime. Burglary incidents, which spiked to 21 cases in 2020, dramatically decreased to just 4 in 2022. Persistent issues like fraud and vandalism, alongside the variability in motor vehicle thefts, suggest the local real estate market could be influenced by concerns over community safety, potentially... Read more
Property Crime Trends in Fayette County, WV Over the Last 5 Years
Property crime trends in Fayette County, West Virginia, over the last five years highlight some interesting patterns. Larceny-theft consistently dominates the statistics, peaking at 161 incidents in 2020 and showing substantial fluctuation year-over-year. Burglary incidents peaked in 2020 with 21 reported cases but saw a significant drop to just 4 cases by 2022. Fraud and vandalism have generally seen lower numbers but remain persistent issues. Fluctuations in motor vehicle thefts suggest a relatively minor but consistent concern. The variability in these crime rates could impact decisions around property investment, insurance premiums, and community safety initiatives.
Demographics
Fayette County, West Virginia's adult population is nearly evenly split between males and females. High school graduates make up the largest share of the county's educational attainment, likely impacting local workforce trends. The age distribution is skewed towards older age groups, with those aged 55 to 64 years constituting a significant portion. Racially, the county is predominantly White, with small representations from other racial groups. These trends could suggest potential focuses for... Read more
Race Distribution in Fayette County, West Virginia (2022)
Educational Attainment in Fayette County, West Virginia (2022)
Age Distribution in Fayette County, West Virginia
Citizen Population in Fayette County, West Virginia (2022)
Political Trends & Data
Fayette County in West Virginia leaned heavily Republican in the 2020 U.S. Presidential Election, with about 68.70% voting GOP and roughly 30% supporting Democrats. This could indicate a broader conservative outlook influencing local policy and real estate trends, potentially appealing to buyers prioritizing stability and traditional community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Fayette County in West Virginia exhibited a dominant Republican preference in the 2020 U.S. Presidential Election with about 68.7% of the vote, while Democrats garnered approximately 30%. Support for Libertarian and Green parties was marginal, reflecting a strengthened two-party system in the region. This tendency might imply a broader trend towards conservative policies within the county.
68.68% of voters voted for the Republican party in the 2020 Presidential Election
30.03% of voters voted for the Democrat party in the 2020 Presidential Election
0.94% of voters voted for the Livertarian party in the 2020 Presidential Election
0.36% of voters voted for the Green party in the 2020 Presidential Election
School Data
Fayette County, West Virginia, has experienced varying student-to-teacher ratios over the past decade, reaching a peak of around 15 students per teacher in 2018 and 2023. This trend suggests that the area often maintains a more personalized educational experience compared to the national average of 14. For potential investors and those considering relocation, these metrics might indicate a stronger educational environment, which is attractive to families prioritizing education. This could... Read more
Student-to-teacher ratio in Fayette County, West Virginia over the last 10 years
Fayette County, West Virginia, has seen fluctuating student-to-teacher ratios over the past decade, with a peak of approximately 15 students per teacher in both 2018 and 2023. This variance suggests an educational environment that generally maintains a more favorable student-to-teacher ratio compared to the national average of 14. For those considering investments in the area or contemplating relocation, these metrics could imply a generally more personalized educational experience for students. Real estate agents and property developers might find this trend appealing to families prioritizing education. Additionally, appraisers and insurance agents could see a steady or increasing interest in properties within the county, driven by perceived educational quality.
