Hancock County Real Estate and Livability Trends
Hancock County, West Virginia, shows signs of economic improvement with average taxable income per tax return increasing from $44,729.04 in 2013 to $58,121.37 in 2021. Real estate trends reveal a cautious yet steady rise in median home values from $86,400 in 2015 to $111,700 in 2022, alongside a significant rise in real estate taxes, suggesting higher property valuations. The fluctuating but... Read more
Hancock County Market Trends
Hancock County, West Virginia's median home values have risen steadily from $86,400 in 2015 to $111,700 in 2022, reflecting a cautious yet stable investment climate compared to the state's more significant leap. The average residential energy tax credit per tax return has also increased, from $252.63 in 2013 to $383.33 in 2021, hinting at an uptick in energy-efficient home improvements. Real... Read more
Median Value of Occupied Housing Units in Hancock County, West Virginia Over the Last 8 Years
Hancock County, West Virginia's median home values have shown a steady upward trend over the past eight years, starting at $86,400 in 2015 and reaching $111,700 by 2022. Compared to the state of West Virginia, which jumped from $103,800 to $145,800 in the same period, Hancock County's growth appears more gradual, signaling potentially more stable investment opportunities. Nationally, housing values rose more sharply from $125,500 to $179,400, suggesting that Hancock County remains an affordable option while still reflecting the national upward trend, making it attractive for both investors and new residents seeking more value for their money.
Residential Energy Tax Credit Per Tax Return in Hancock County, WV Over the Last 8 Years
In Hancock County, West Virginia, there's a noticeable upward trend in the average residential energy tax credit claimed per tax return over the past eight years. Starting from $252.63 in 2013, there's a general increase with some fluctuations, peaking at $383.33 in 2021. This trend suggests growing incentives for energy-efficient investments, which is potentially attractive for future homeowners, investors, and real estate professionals focusing on sustainable property upgrades. For appraisers and insurance agents, the rising credits indicate increased property values and possibly lower risk profiles due to energy-efficient improvements.
Average Real Estate Taxes Per Tax Return in Hancock County, WV Over the Last 10 Years
Over the past decade, Hancock County, West Virginia has seen a notable increase in average real estate taxes per tax return. Starting at approximately $1,194.05 in 2012, there was a steady upward trend, with a more pronounced rise beginning in 2018, spiking to around $2,464.00 and reaching about $2,533.33 by 2021. This trend suggests a growing valuation in real estate and potentially increased municipal costs or improved local infrastructure affecting tax rates, which matters for investors, homebuyers, and various stakeholders assessing the financial landscape of the county.
Percentage of Farm Returns in Hancock County, WV Over the Last 10 Years
Hancock County, West Virginia has exhibited varying trends in farm tax returns over the last decade, with percentages fluctuating between approximately 0.27% and 0.43%. Farm tax returns indicate agricultural activity within the county, affecting local economies and investment potential. Notably, there was a peak around 2018, suggesting a possible resurgence or increased focus on farming. These trends could be compelling for investors and potential residents seeking areas with active farming communities or those considering agricultural ventures.
Number of Mortgages by Occupancy Type in Hancock County, WV Over the Last 5 Years in Hancock County
Hancock County, West Virginia has shown an upward trend in principal residence mortgages over the last five years, indicating a growing demand for primary homes. Investors and real estate agents might find value in the noticeable rise in investment property mortgages, signaling potential opportunities for rental income or property appreciation. The relatively stable numbers for second residences could hint at a limited market for vacation or secondary homes. These occupancy type changes matter for appraisers and insurance agents as they impact property values and risk assessments, which in turn affect mortgage rates and insurance premiums. Understanding these shifts enables those considering investments or relocations to make informed decisions about property values and community dynamics.
Economic Outlook
Hancock County, West Virginia, has experienced a consistent rise in average taxable income per tax return over the past nine years, growing from $44,729.04 in 2013 to $58,121.37 in 2021, possibly signaling economic improvement. Concurrently, the average state and local income taxes per tax return have nearly doubled from $6,767.35 in 2012 to $12,813.04 by 2021, which could reflect rising incomes or shifting tax policies. Additionally, fluctuations in total tax liability per tax return peaked at... Read more
Average Taxable Income per Tax Return in Hancock County, WV over the last 9 years
Hancock County, West Virginia, has shown a steady increase in average taxable income per tax return over the last nine years, with figures rising from approximately $44,729.04 in 2013 to around $58,121.37 in 2021. This upward trend could be indicative of economic improvement in the area, making it potentially attractive for investors, real estate developers, and new residents. Financial and insurance professionals may find these trends useful in appraising property values and assessing risk.
Average State and Local Income Taxes Per Tax Return in Hancock County, WV Over the Last 10 Years
There's been a noticeable upward trend in the average state and local income taxes per tax return in Hancock County, West Virginia over the past decade. Starting from $6,767.35 in 2012, the figure has almost doubled to $12,813.04 by 2021. This sharp increase since 2018 could indicate rising incomes or changes in tax policies, both relevant for potential investors, real estate agents, and those considering a move to the area. The significant rise might influence property values, insurance rates, and overall cost of living, making it critical for appraisers and insurance agents to stay informed.
Average Total Tax Liability Per Tax Return in Hancock County, WV Over the Last 10 Years
Hancock County, West Virginia has seen fluctuations in average total tax liability per tax return over the past decade, with a notable peak in 2021 at $7,961.94. The trend generally shows a gradual increase, especially significant rises from 2016 onwards, peaking again sharply in 2021. For those investigating investment opportunities or considering relocation, these patterns may suggest evolving economic conditions, potentially increasing disposable incomes or adjusting tax policies. Appraisors, real estate agents, and insurance agents might interpret these figures as indicators of changing financial landscapes that could impact property values and insurance rates in the area.
Cost of Living in Hancock County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,102 | $1,605 | $2,965 | $1,376 | $1,847 |
| 1 adult 4 children | $1,102 | $1,310 | $2,276 | $1,376 | $1,822 |
| 2 adults 3 children | $1,102 | $1,311 | $2,569 | $1,376 | $1,513 |
| 1 adult 3 children | $1,102 | $1,070 | $1,879 | $1,376 | $1,498 |
| 2 adults 2 children | $816 | $1,073 | $2,173 | $1,196 | $1,182 |
| 1 adult 2 children | $816 | $802 | $1,483 | $1,196 | $1,084 |
| 2 adults 1 child | $816 | $848 | $1,776 | $610 | $1,022 |
| 1 adult 1 child | $816 | $548 | $1,086 | $610 | $771 |
| 2 adults | $640 | $681 | $1,380 | $0 | $788 |
| 1 adult | $636 | $372 | $690 | $0 | $595 |
Safety trends & Data
Hancock County, West Virginia, exhibits fluctuating property crime trends over recent years, especially in larceny-theft, which peaked at 90 incidents in 2018, dipped to 23 in 2020, and rebounded to 56 in 2022. Motor vehicle theft remains consistently low at 1 to 2 incidents per year. Vandalism incidents vary slightly, peaking at 10 in 2022. Embezzlement incidents were high in 2018 but haven't recurred since. Occasional arson and erratic fraud and forgery incidents make for an interesting... Read more
Property Crime Trends in Hancock County, WV Over the Last 5 Years
Hancock County, West Virginia has seen fluctuating property crime rates over the last five years, with a notable peak in larceny-theft in 2018 at 90 incidents, which then declined to 23 in 2020 but started rising again, reaching 56 in 2022. Motor vehicle theft remains relatively low and stable, typically at 1 to 2 incidents per year. Vandalism trends show minor fluctuations, peaking again at 10 incidents in 2022. Embezzlement saw an initial high in 2018 but disappeared from later years. Noteworthy mentions include occasional arson (one incident yearly in select years) and sporadic fraud and forgery incidents. These trends suggest a general decline in certain property crimes but a resurgence in larceny-theft and vandalism, interesting for potential investors, appraisers, and those contemplating moving to or working in the area.
Demographics
Hancock County, West Virginia has a nearly balanced adult gender distribution, with a slight tilt towards females. Educational attainment shows a concentration at the high school graduate level with a significant number also having some college experience but no degree. An aging population is evident, with a notable fraction aged 55 and older. The racial demographics are overwhelmingly White, with minimal representation from other racial... Read more
Race Distribution in Hancock County, West Virginia (2022)
Educational Attainment in Hancock County, West Virginia (2022)
Age Distribution in Hancock County, West Virginia
Citizen Population in Hancock County, West Virginia (2022)
Political Trends & Data
Hancock County, West Virginia, displayed significant Republican support in the 2020 U.S. Presidential Election, with roughly 71% of votes going to the Republican party. In contrast, around 27% of residents voted Democratic, and third-party candidates received minimal backing. This voting pattern could suggest local political priorities and demographic factors influencing the real estate landscape and potential investment opportunities in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hancock County in West Virginia leaned heavily Republican in the 2020 U.S. Presidential Election, with approximately 71% of votes favoring the Republican party. The Democratic party garnered around 27%, while third-party options like the Libertarian and Green parties saw marginal support at about 1% and 0.3% respectively. The stark contrast in vote distribution might reflect localized political priorities or demographic influences.
71.06% of voters voted for the Republican party in the 2020 Presidential Election
27.46% of voters voted for the Democrat party in the 2020 Presidential Election
1.17% 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
School Data
Hancock County, West Virginia's student-to-teacher ratio has mostly stayed below the national average of 14, aside from a spike to 16 in 2018. This could hint at temporary shifts in school enrollments or staffing, potentially affecting educational quality and resource allocation. Families and investors might see the generally lower ratios as a plus for personalized education. For real estate and insurance professionals, these educational trends could signal a stable demand for family-friendly... Read more
Student-to-teacher ratio in Hancock County, West Virginia over the last 10 years
Hancock County, West Virginia's student-to-teacher ratio has generally hovered below the national average of 14 students per teacher, aside from a notable spike in 2018 at 16. This deviation might suggest temporary changes in school enrollments or staffing, which could impact educational quality and resource allocation. Investors and families considering a move here might find the overall lower ratios promising for personalized education. For real estate agents and insurance professionals, these trends might indicate a stable demand for family-friendly housing in the area, as education quality often influences these markets.
