Land Market Insights and Pricing in Virginia

Virginia's geography spans from the Atlantic coastal plain to the Blue Ridge Mountains, offering land buyers a variety of landscapes to choose from. With 62% of the state covered in forests and over 4,000 limestone caves, Virginia provides unique opportunities for nature enthusiasts and eco-tourism developers. The state's income tax structure is moderately favorable, starting at a low 2% for the first $3,000 of taxable income and reaching a top rate of 5.75% for income over $17,000. This is competitive with neighboring states, especially for low to middle-income earners. Property taxes are also relatively favorable, with an effective rate of 0.74% in 2023, ranking 31st out of 50 states and lower than the national average. Rockingham County, nestled between the Allegheny and Blue Ridge Mountains, is an excellent location for farm seekers, boasting a low unemployment rate of 2.7%. For those interested in residential properties, Fairfax County stands out with its impressive median worker earnings of $71,572 and over 390 county parks spread across more than 23,000 acres. The county's strong job market is reflected in its high labor force participation rate of 71.2%. Virginia's agricultural sector, supported by its humid subtropical climate, contributes significantly to the state's economy, with key crops including soybeans, corn, and peanuts. The Commonwealth's robust cattle and poultry industries further strengthen its economic prospects in the agricultural domain.