Hardy County Real Estate and Livability Trends
Hardy County, West Virginia has seen median home values rise from $118,800.00 in 2015 to $153,300.00 in 2022, outpacing statewide growth. Increased average taxable income and significant hikes in state and local income taxes suggest a strengthening economy, potentially making the area more appealing to investors and new residents. Real estate professionals can capitalize on these trends by... Read more
Hardy County Market Trends
Hardy County, West Virginia has seen median home values rise from $118,800.00 in 2015 to $153,300.00 in 2022, outpacing statewide growth but still lagging behind national trends. The county has experienced significant volatility in residential energy tax credits and real estate taxes, with energy tax credits peaking at $733.33 in 2021 and real estate taxes reaching highs of $2,446.67 in 2020.... Read more
Median Value of Occupied Housing Units in Hardy County, West Virginia Over the Last 8 Years
Hardy County, West Virginia, has experienced a steady increase in median home values over the past eight years, with the median value rising from $118,800.00 in 2015 to $153,300.00 in 2022. This growth outpaces the state of West Virginia, where the median value increased from $103,800.00 to $145,800.00 during the same period. However, Hardy County still lags behind the national trend; the U.S. median home value surged from $125,500.00 in 2015 to $179,400.00 in 2022. These trends could indicate a growing local real estate market in Hardy County, potentially making it an attractive spot for investment relative to other parts of West Virginia, though it may offer more affordability compared to the national average.
Residential Energy Tax Credit Per Tax Return in Hardy County, WV Over the Last 8 Years
Over the last 8 years, Hardy County, West Virginia has seen a notable fluctuation in the average residential energy tax credit per tax return. A low point occurred in 2017 at $200.00, followed by a remarkable surge reaching $733.33 in 2021. This upward trend in recent years could suggest enhanced incentives for energy-efficient investments, making it potentially appealing for real estate agents, appraisers, and those interested in sustainable living. For investors and builders, this trend might indicate favorable support for eco-friendly projects, while insurance agents may need to account for these upgrades in their assessments.
Average Real Estate Taxes Per Tax Return in Hardy County, WV Over the Last 10 Years
Hardy County, West Virginia has seen notable fluctuations in average real estate taxes per tax return over the past decade. The overall trend is upward, with sharper increases starting around 2018 when taxes jumped from approximately $1,231.17 in 2017 to $1,647.06. The most significant rise occurred in 2020, hitting around $2,446.67 before slightly decreasing to $2,146.67 in 2021. This volatility could impact investment decisions as it suggests a potential unpredictability in tax liabilities for property owners. Such data is crucial for those considering new property developments, real estate investments, or appraising and insuring properties in the area.
Percentage of Farm Returns in Hardy County, WV Over the Last 10 Years
Over the last decade, Hardy County, West Virginia, has seen a fairly consistent percentage of farm tax returns, hovering around 6.3% to 7%. While there was a slight uptick in the mid-2010s, peaking at approximately 7.01% in 2015, the trend has shown a gradual decline towards 6.39% in 2021. Farm tax returns provide insight into the agricultural activity in an area, reflecting not just the number of operational farms but also their economic health and contribution to local revenue. For potential investors or residents, these returns might suggest the relative stability or shifts in the agricultural sector, which can impact land use, local economy, and community investments.
Number of Mortgages by Occupancy Type in Hardy County, WV Over the Last 5 Years in Hardy County
Over the last five years, Hardy County, West Virginia has seen varying trends in the number of mortgages across different occupancy types. Principal residences consistently lead, peaking in 2021 with 581 mortgages, likely indicating a steady demand for homes as primary living spaces. Investment properties and second residences show more fluctuation, with investment property mortgages remaining relatively stable but at significantly lower numbers compared to primary homes. Second residences saw a noticeable dip in 2022. This variance in mortgage counts could impact market dynamics, influencing property values, insurance premiums, and investor interest. For those looking to invest or make informed decisions in the county, understanding these trends offers a glimpse into local housing demand and potential shifts in property usage.
Economic Outlook
Hardy County, West Virginia has experienced a steady increase in average taxable income per tax return, rising from approximately $38,376.55 in 2013 to about $51,611.67 by 2021. Concurrently, average state and local income taxes have grown significantly, from $4,547.31 in 2012 to $10,277.78 in 2021, and total tax liability climbed from around $4,666.98 in 2012 to $7,034.39 in 2021. These trends suggest a strengthening local economy, which could make the area more appealing to investors and new... Read more
Average Taxable Income per Tax Return in Hardy County, WV over the last 9 years
Over the past nine years, Hardy County, West Virginia has seen a notable increase in average taxable income per tax return. Starting at approximately $38,376.55 in 2013, there's been a gradual yet consistent climb, reaching about $51,611.67 by 2021. This upward trend may suggest a strengthening local economy, making Hardy County potentially appealing for investors and those looking to relocate. This increase is also crucial for appraisers and insurance agents, as higher incomes can influence property values and risk assessments. Real estate agents might find this trend useful for marketing and demographic targeting, underscoring the area's economic growth to prospective buyers.
Average State and Local Income Taxes Per Tax Return in Hardy County, WV Over the Last 10 Years
Over the past decade, Hardy County, West Virginia has seen a notable increase in average state and local income taxes per tax return, rising from $4,547.31 in 2012 to $10,277.78 in 2021. This trend may point to economic growth and increasing incomes in the area, perhaps making it a more attractive location for potential investors, home buyers, and real estate professionals. However, higher taxes could also impact disposable income, which is worth considering for financial planning, property development, and appraisals.
Average Total Tax Liability Per Tax Return in Hardy County, WV Over the Last 10 Years
Over the last decade in Hardy County, West Virginia, average total tax liability per tax return has seen a consistent upward trend. Starting from approximately $4,666.98 in 2012, it experienced a noticeable increase peaking at around $7,034.39 by 2021. This rise, especially significant after 2017, could suggest growing incomes or adjustments in tax policies, impacting anyone involved in or considering real estate, insurance, or investment in the area. These figures highlight essential factors for potential investors, property developers, and residents weighing the county's economic trajectory.
Cost of Living in Hardy County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $973 | $1,355 | $2,771 | $1,150 | $1,519 |
| 1 adult 4 children | $973 | $1,107 | $2,127 | $1,150 | $1,500 |
| 2 adults 3 children | $973 | $1,107 | $2,401 | $1,150 | $1,209 |
| 1 adult 3 children | $973 | $904 | $1,756 | $1,150 | $1,201 |
| 2 adults 2 children | $768 | $906 | $2,030 | $1,003 | $1,024 |
| 1 adult 2 children | $768 | $677 | $1,386 | $1,003 | $908 |
| 2 adults 1 child | $768 | $716 | $1,660 | $525 | $917 |
| 1 adult 1 child | $768 | $463 | $1,015 | $525 | $718 |
| 2 adults | $583 | $575 | $1,289 | $0 | $739 |
| 1 adult | $580 | $314 | $644 | $0 | $587 |
Safety trends & Data
Hardy County, West Virginia has seen varying property crime rates over the past five years. Larceny and theft were highest in 2019 with 52 incidents, while burglary spiked in 2021 with 17 cases. Vandalism hit its peak in 2022 with 12 reported incidents. Steady motor vehicle theft rates might indicate different underlying factors. These shifting crime dynamics are key considerations for investors, real estate professionals, and local... Read more
Property Crime Trends in Hardy County, WV Over the Last 5 Years
Hardy County, West Virginia has experienced fluctuating property crime rates over the past five years. Larceny and theft appear to be the most prevalent crimes, peaking at 52 in 2019 before gradually declining. Burglary saw a noticeable spike in 2021 with 17 reported incidents, significantly higher than in other years. Vandalism also showed an increase, reaching its highest in 2022 with 12 reported cases. Motor vehicle theft remains relatively consistent, with slight variations. These trends could point to shifting crime dynamics, important for potential investors, real estate professionals, and local authorities to consider.
Demographics
Hardy County, West Virginia, shows a modest gender balance with a slight male majority in its adult population. Education levels suggest that while most adults in the county have completed high school, fewer have progressed to higher education degrees. The age distribution indicates a significant segment of the population is approaching or is already within retirement age, which might impact local services and infrastructure needs. The race distribution is predominantly White, with very few... Read more
Race Distribution in Hardy County, West Virginia (2022)
Educational Attainment in Hardy County, West Virginia (2022)
Age Distribution in Hardy County, West Virginia
Citizen Population in Hardy County, West Virginia (2022)
Political Trends & Data
In Hardy County, West Virginia, nearly 77% of voters in the 2020 U.S. Presidential Election supported the Republican party, reflecting a potentially strong conservative tilt. With Democrats capturing just over 21% of the vote and minimal support for Libertarian and Green parties, the local electorate's preferences could suggest a particular political lean that may influence housing policies, property taxes, and public infrastructure... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Hardy County, West Virginia, the 2020 U.S. Presidential Election saw a strong preference for the Republican party, with nearly 77% of the vote. Democrats garnered just over 21%, while support for Libertarian and Green parties was minimal, at about 1% and 0.3% respectively. This significant skew towards Republican candidates might indicate a strong conservative inclination in the local electorate.
76.75% of voters voted for the Republican party in the 2020 Presidential Election
21.81% of voters voted for the Democrat party in the 2020 Presidential Election
1.14% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Green party in the 2020 Presidential Election
School Data
Hardy County, West Virginia has seen a decrease in the student-to-teacher ratio from a peak of 15.8 in 2018 to 14.57 in 2023, nearer to the national average of 14. This trend could attract families to the area, suggesting potentially better educational outcomes due to more individualized attention in classrooms. For real estate professionals, appraisers, and insurance agents, these figures may influence property values and risk assessments, as quality education is a crucial factor for many... Read more
Student-to-teacher ratio in Hardy County, West Virginia over the last 10 years
In Hardy County, West Virginia, the student-to-teacher ratio has varied over the last decade, peaking at around 15.8 in 2018 but showing a notable decrease to 13.97 in 2022. Most recently, the ratio has settled at 14.57 in 2023, aligning more closely with the national average of 14 students per teacher. This trend could be significant for investors, residents, and real estate professionals as lower student-to-teacher ratios often suggest more individualized attention in classrooms, potentially enhancing educational outcomes and making the area more attractive to families. For appraisers and insurance agents, these figures can impact property values and risk assessments, with quality of education being a crucial factor for many homebuyers.
