Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 15,909, 4,882 total housing units (homes and apartments), and a median house value of $413,415, Williamsburg real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Williamsburg, accounting for 41.24% of the city's housing units. Other types of housing that are prevalent in Williamsburg include large apartment complexes or high rise apartments ( 30.67%), row houses and other attached homes ( 14.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 13.71%).
Renters dominate Williamsburg's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in Williamsburg built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Williamsburg built between 2000 and later ( 28.72%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.15%). There's also some housing in Williamsburg built before 1939 ( 4.17%).
Vacant housing appears to be an issue in Williamsburg. Fully 14.83% of the housing stock is classified as vacant. Left unchecked, vacant Williamsburg homes and apartments can be a drag on the real estate market, holding Williamsburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Williamsburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Williamsburg during the period has been just 4.31%, which is lower than 80% of US communities.
Appreciation rates are so strong in Williamsburg that despite a nationwide downturn in the housing market, Williamsburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Williamsburg appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 80.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Williamsburg. Williamsburg appreciation rates in the latest quarter were at -0.39%, which equates to an annual appreciation rate of -1.56%.
Relative to Virginia, our data show that Williamsburg's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Williamsburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Williamsburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Williamsburg real estate investment or home purchase decisions.
$413,415
for Virginia
for nation
4,882
$2,032 / per month