Virginia, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Virginia Neighborhoods Since 2000




Virginia, MN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Virginia Housing Market Information

With 8,587 people, 4,145 houses or apartments, and a median cost of homes of $88,257, house prices in Virginia are some of the most affordable in Minnesota as well as the nation.

Single-family detached homes are the single most common housing type in Virginia, accounting for 60.80% of the city's housing units. Other types of housing that are prevalent in Virginia include large apartment complexes or high rise apartments ( 20.59%), duplexes, homes converted to apartments or other small apartment buildings ( 15.86%), and a few mobile homes or trailers ( 1.92%).

People in Virginia primarily live in small (one, two or no bedroom) single-family detached homes. Virginia has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Virginia's housing was primarily built during this period, from the '40s through the '60s. A full 41.49% of the city's housing hails from this era. Other housing ages represented in Virginia include homes built before 1939 ( 32.37%) and housing constructed between 1970-1999 ( 22.15%). There's also some housing in Virginia built between 2000 and later ( 4.00%).

Vacant housing appears to be an issue in Virginia. Fully 13.72% of the housing stock is classified as vacant. Left unchecked, vacant Virginia homes and apartments can be a drag on the real estate market, holding Virginia 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.

Virginia Home Appreciation Rates

Real estate appreciation rates in Virginia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.78% during the period.

Over the last year, Virginia appreciation rates have trailed the rest of the nation. In the last twelve months, Virginia's appreciation rate has been -0.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Virginia were at 1.03%, which equates to an annual appreciation rate of 4.17%.

Relative to Minnesota, our data show that Virginia's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$88,257

Virginia, MN HOME PRICES

Value Range
> $1,003,000 0.0
$753,001 - $1,003,000 0.2
$502,001 - $753,000 0.0
$401,001 - $502,000 0.0
$301,001 - $401,000 1.0
$201,001 - $301,000 5.7
$100,001 - $201,000 26.9
$50,001 - $100,000 51.1
$0 - $50,000 15.2

Very Low for MN
Very Low for Nation

Value Relative to Nation Value Relative to State
85.3041134419313 96.5092402464066

Number Of Homes And Apartments:
4,145

Virginia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
29.95% 1.53% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$630 / per month

Homeownership Rate

Homeownership
Owners 55.56
Renters 44.44
Vacant 13.72

Housing Market Details

 

Age of Homes

AGE OF Virginia HOMES
2000 or Newer 4.0
1970 - 1999 22.1
1940 - 1969 41.5
1939 or Older 32.4

Types of Homes

TYPE OF Virginia HOMES
Single-Family 60.8
Townhomes 0.8
Small Apt. Buildings 15.9
Apt. Complexes 20.6
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Virginia HOMES
No Bedroom 3.48
1 Bedroom 23.06
2 Bedrooms 29.95
3 Bedrooms 32.41
4 Bedrooms 9.83
5 or more bedrooms 1.27

Popular Neighborhoods in Virginia

Zip Codes in Virginia, MN