Abingdon, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Abingdon, VA 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

Abingdon Housing Market Information

With a population of 8,119, 3,784 total housing units (homes and apartments), and a median house value of $147,871, Abingdon real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Abingdon, accounting for 48.23% of the town's housing units. Other types of housing that are prevalent in Abingdon include large apartment complexes or high rise apartments ( 23.03%), duplexes, homes converted to apartments or other small apartment buildings ( 18.12%), and a few mobile homes or trailers ( 5.52%).

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

There is a lot of housing in Abingdon 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 Abingdon built between 1940-1969 ( 27.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.87%). There's also some housing in Abingdon built before 1939 ( 9.26%).

Vacant housing appears to be an issue in Abingdon. Fully 11.53% of the housing stock is classified as vacant. Left unchecked, vacant Abingdon homes and apartments can be a drag on the real estate market, holding Abingdon 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.

Abingdon Home Appreciation Rates

Real estate appreciation rates in Abingdon's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.14% during the period.

Over the last year, Abingdon appreciation rates have trailed the rest of the nation. In the last twelve months, Abingdon's appreciation rate has been 1.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Abingdon were at -1.22%, which equates to an annual appreciation rate of -4.81%.

Notably, Abingdon's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Abingdon's latest annual appreciation rate is higher than 50% 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 town. Individual neighborhoods within Abingdon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Abingdon - 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 Abingdon real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$147,871

Abingdon, VA HOME PRICES

Value Range
> $1,007,000 3.1
$755,001 - $1,007,000 0.4
$503,001 - $755,000 2.4
$403,001 - $503,000 3.0
$302,001 - $403,000 4.0
$201,001 - $302,000 18.4
$100,001 - $201,000 35.2
$50,001 - $100,000 20.3
$0 - $50,000 13.1

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
50.9785538497598 65.0969529085873

Number Of Homes And Apartments:
3,784

Abingdon Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
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
41.45% 2.03% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$754 / per month

Homeownership Rate

Homeownership
Owners 48.80
Renters 51.20
Vacant 11.53

Housing Market Details

 

Age of Homes

AGE OF Abingdon HOMES
2000 or Newer 10.9
1970 - 1999 52.7
1940 - 1969 27.2
1939 or Older 9.3

Types of Homes

TYPE OF Abingdon HOMES
Single-Family 48.2
Townhomes 5.0
Small Apt. Buildings 18.1
Apt. Complexes 23.0
Mobile Homes 5.5
Other 0.1

Home Size

SIZE OF Abingdon HOMES
No Bedroom 1.87
1 Bedroom 13.40
2 Bedrooms 37.29
3 Bedrooms 32.34
4 Bedrooms 10.29
5 or more bedrooms 4.82