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 8,321 people, 3,975 houses or apartments, and a median cost of homes of $251,230, 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 55.11% of the town's housing units. Other types of housing that are prevalent in Abingdon include large apartment complexes or high rise apartments ( 19.66%), duplexes, homes converted to apartments or other small apartment buildings ( 11.80%), and a few mobile homes or trailers ( 6.90%).
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 ( 24.68%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.54%). There's also some housing in Abingdon built before 1939 ( 10.20%).
Abingdon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Abingdon during the period has been just 4.21%, which is lower than 80% of US communities.
Appreciation rates are so strong in Abingdon that despite a nationwide downturn in the housing market, Abingdon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Abingdon appreciation rates continue to be some of the highest in America, at 10.52%, which is higher than appreciation rates in 78.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Abingdon. Abingdon appreciation rates in the latest quarter were at -0.77%, which equates to an annual appreciation rate of -3.06%.
Relative to Virginia, our data show that Abingdon's latest annual appreciation rate is higher than 80% 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.
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