Wayne County Real Estate and Livability Trends
Wayne County, West Virginia, has seen median home values rise from $82,800 in 2015 to $114,200 in 2022, still offering affordability compared to broader benchmarks. Rising residential energy tax credits point toward a local push for energy-efficient homes, with amounts growing from $267.86 in 2013 to $830.00 in 2021. However, real estate taxes have more than doubled since 2012, possibly... Read more
Wayne County Market Trends
Wayne County, West Virginia, has experienced a gradual but tangible increase in median home values, rising from $82,800 in 2015 to $114,200 in 2022, which remains relatively affordable compared to state and national figures. In parallel, there's been a substantial jump in residential energy tax credits, growing from $267.86 in 2013 to $830.00 in 2021, reflecting a local emphasis on... Read more
Median Value of Occupied Housing Units in Wayne County, West Virginia Over the Last 8 Years
Wayne County, West Virginia, has seen an interesting upward trend in median home values over the past eight years, increasing from $82,800 in 2015 to $114,200 in 2022. This growth appears steady but remains lower compared to the state median, which rose from $103,800 to $145,800. Nationally, median home values surged from $125,500 to $179,400 over the same period. For anyone considering investing, moving, or building in Wayne County, this more affordable trajectory might provide an appealing opportunity compared to state and national markets.
Residential Energy Tax Credit Per Tax Return in Wayne County, WV Over the Last 8 Years
Wayne County, West Virginia has seen an overall increase in the average residential energy tax credit per tax return over the past eight years, climbing from $267.86 in 2013 to $830.00 in 2021. This noticeable rise suggests a growing emphasis on energy-efficient home improvements, a factor worth considering for potential homeowners and investors. Real estate agents and appraisers might note this trend as indicative of increasing homeowner investment in property upgrades, while insurance agents could see it as a sign of potentially reduced risk profiles due to modernized infrastructure.
Average Real Estate Taxes Per Tax Return in Wayne County, WV Over the Last 10 Years
Over the past decade, Wayne County, West Virginia has seen a notable rise in average real estate taxes per tax return. Starting at around $989.73 in 2012, the figure gradually climbed to over $2,133.33 by 2020, with a slight dip to approximately $1,868.18 in 2021. This upward trend could signal increased property values or local tax rate adjustments, making it an essential consideration for potential investors, homebuyers, appraisers, and real estate professionals. The spike in 2018 and 2019 particularly stands out, suggesting a period of rapid fiscal changes or development in the area.
Percentage of Farm Returns in Wayne County, WV Over the Last 10 Years
Wayne County, West Virginia has experienced slight fluctuations in the percentage of farm tax returns over the past decade, peaking at around 1.04% in 2015 and gradually dipping to approximately 0.83% by 2021. Farm tax returns are official financial documents filed with the government that detail the income and expenses of agricultural operations. For investors and prospective property developers, the decline in farm returns could indicate a shift in the local agricultural economy, potentially signaling opportunities for diversification or investment in alternate sectors. This trend might matter to those interested in the region's economic landscape, reflecting broader changes in the local agribusiness viability.
Number of Mortgages by Occupancy Type in Wayne County, WV Over the Last 5 Years in Wayne County
The trends in Wayne County, West Virginia show that principal residences dominate mortgage activity, with a peak in 2021 at 1,436, and a subsequent decline to 1,148 in 2022. Investment properties and second residences have relatively stable but significantly smaller numbers, with investment properties fluctuating between 43 and 59 mortgages per year and second residences hitting a peak of 21 in 2021 before dropping to 9 in 2022. These changes in occupancy type might affect the valuation and insurance considerations for properties, as the predominance of principal residences can indicate a strong local market driven by residents rather than investors. For real estate agents and potential investors, the trends suggest a stable but cautious market environment, with slightly declining homeowner activity possibly opening opportunities for investment properties. Appraisers and insurers may need to adjust their risk assessments and property evaluations in accordance with these trends, considering that a high proportion of owner-occupied homes often translates to a more stable community and potentially lower risk.
Economic Outlook
Wayne County, West Virginia, has observed an upward trajectory in average taxable income per tax return, climbing from $43,434.35 in 2013 to $53,278.71 in 2021, which could hint at economic growth and better job opportunities. Meanwhile, state and local income taxes have drastically increased, notably between 2017 and 2018, jumping from around $6,806.38 to $10,051.61, affecting both costs and profitability for potential property buyers and investors. Additionally, the average total tax... Read more
Average Taxable Income per Tax Return in Wayne County, WV over the last 9 years
Wayne County, West Virginia has seen a generally upward trend in average taxable income per tax return over the past nine years, rising from $43,434.35 in 2013 to $53,278.71 in 2021. This consistent increase may indicate economic growth and potentially improving job opportunities, making it an attractive location for investment and development. Real estate agents and property investors might find this trend encouraging, as an increase in taxable income can correlate with higher purchasing power and market demand. Insurance agents and appraisers could also benefit from understanding these trends, as they can impact property valuations and insurance needs.
Average State and Local Income Taxes Per Tax Return in Wayne County, WV Over the Last 10 Years
Over the last decade, Wayne County, West Virginia has seen a significant increase in average state and local income taxes per tax return, with a noticeable jump between 2017 and 2018 from about $6,806.38 to $10,051.61. This trend is pertinent for potential investors, property builders, and real estate agents, as rising taxes may influence both costs and profitability. For insurance agents and appraisers, understanding tax trends can affect property values and insurance premiums. Current residents and those considering moving to Wayne County should be aware of these tax trends as they directly impact the cost of living.
Average Total Tax Liability Per Tax Return in Wayne County, WV Over the Last 10 Years
Over the past decade, Wayne County, West Virginia, has experienced fluctuations in average total tax liability per tax return, starting from $5,669.69 in 2012 and rising to $6,974.50 in 2021. Notable peaks include significant jumps around 2015 and 2017, with a dip observed in 2018. This trend may hold importance for potential investors and home buyers as it reflects the changing economic landscape and potential tax obligations. Real estate professionals and appraisers can use this data to better understand fiscal impacts over time.
Cost of Living in Wayne County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,103 | $1,259 | $3,409 | $1,339 | $1,831 |
| 1 adult 4 children | $1,103 | $1,028 | $2,618 | $1,339 | $1,800 |
| 2 adults 3 children | $1,103 | $1,028 | $2,952 | $1,339 | $1,506 |
| 1 adult 3 children | $1,103 | $839 | $2,161 | $1,339 | $1,448 |
| 2 adults 2 children | $830 | $842 | $2,495 | $1,164 | $1,166 |
| 1 adult 2 children | $830 | $629 | $1,705 | $1,164 | $1,054 |
| 2 adults 1 child | $830 | $665 | $2,038 | $593 | $1,012 |
| 1 adult 1 child | $830 | $430 | $1,248 | $593 | $774 |
| 2 adults | $707 | $534 | $1,582 | $0 | $813 |
| 1 adult | $649 | $292 | $791 | $0 | $601 |
Safety trends & Data
Wayne County, West Virginia has seen fluctuating property crime rates over the last five years. Larceny-theft peaked at 86.00 in 2018 but dropped significantly to 27.00 by 2021. Burglary incidents increased slightly in 2019 at 13.00 before declining to 3.00 in 2021, potentially indicating improved security or reporting. Motor vehicle thefts have remained low with a minor spike to 12.00 in 2020. Other property crimes like embezzlement, fraud, and arson have been sporadic. These trends could... Read more
Property Crime Trends in Wayne County, WV Over the Last 5 Years
Wayne County, West Virginia has experienced notable fluctuations in property crime over the last five years. Larceny-theft consistently leads in reported incidents, peaking at 86.00 in 2018 but significantly dropping to 27.00 by 2021. Burglary incidents saw a slight increase in 2019 at 13.00 but fell to just 3.00 in 2021, indicating a potential improvement in security or reporting. Motor vehicle thefts have remained relatively low, with a minor spike in 2020 at 12.00. Meanwhile, other crimes such as embezzlement, fraud, and arson have maintained low and sporadic occurrences. Overall, this trend could suggest periodic rises in property crime but with some areas showing promising declines, which might be of interest to investors, potential residents, and real estate professionals evaluating the region's safety and growth prospects.
Demographics
Wayne County, West Virginia displays a slightly higher female population than male, suggesting a potential impact on local services and amenities focusing on women’s health and education. Educational attainment reveals a community with most residents having at least a high school diploma, though there's a notable share with some college experience but no degree, hinting at potential opportunities for educational initiatives or workforce development programs. The age distribution shows a... Read more
Race Distribution in Wayne County, West Virginia (2022)
Educational Attainment in Wayne County, West Virginia (2022)
Age Distribution in Wayne County, West Virginia
Citizen Population in Wayne County, West Virginia (2022)
Political Trends & Data
Wayne County, West Virginia, showed a strong Republican preference in the 2020 U.S. Presidential Election, with about 74% of the votes potentially going to the Republican candidate. Democrats captured just over 24%, suggesting a notable partisan divide. Minor parties, including Libertarians and Greens, had minimal impact on the overall vote. This significant lean towards conservative policies could influence local and state political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wayne County, West Virginia, leaned heavily Republican in the 2020 U.S. Presidential Election, with around 74% of votes possibly cast for the Republican candidate. Democrats seemed to have garnered just over 24%, highlighting a significant partisan gap. Minor parties like the Libertarians and Greens contributed a small fraction to the overall vote, indicating that third-party influence was minimal. This trend suggests that Wayne County might be a stronghold for conservative policies and candidates, which may impact local and state political strategies.
74.26% of voters voted for the Republican party in the 2020 Presidential Election
24.12% of voters voted for the Democrat party in the 2020 Presidential Election
1.32% 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
The student-to-teacher ratio in Wayne County, West Virginia, has consistently stayed below the national average of 14 students per teacher over the past decade, peaking at 14 in 2014 and falling to 12.62 in 2023. This trend could indicate more personalized attention per student, possibly making the area more appealing to families prioritizing education. For investors and real estate agents, this might suggest a community-focused mindset and potentially higher housing demand among families.... Read more
Student-to-teacher ratio in Wayne County, West Virginia over the last 10 years
The student-to-teacher ratio in Wayne County, West Virginia, has consistently remained below the national average of 14 students per teacher over the past ten years, reflecting a favorable educational environment. The ratio peaked at 14 in 2014 but has generally trended downward, reaching its lowest at 12.62 in 2023. This lower ratio might hint at more personalized attention per student, potentially making Wayne County attractive to families prioritizing education. For investors and real estate agents, a lower student-to-teacher ratio could be a compelling selling point, indicating a community-oriented mindset and potentially higher demand for housing among families. Similarly, this factor may appeal to appraisers and insurance agents due to its implication of stable community investment in education, suggesting a lower risk environment.
