Afton, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Afton Neighborhoods Since 2000




Afton, VA Real Estate Data


Afton Housing Market Information

With a population of 9,205, 1,994 total housing units (homes and apartments), and a median house value of $356,923, Afton house prices are not only among the most expensive in Virginia, Afton real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Afton, accounting for 79.98% of the town's housing units. Other types of housing that are prevalent in Afton include large apartment complexes or high rise apartments ( 8.77%), mobile homes or trailers ( 6.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.90%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Afton. Owner-occupied housing accounts for 74.52% of Afton's homes, and 57.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Afton 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 Afton built between 1940-1969 ( 17.64%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.45%). There's also some housing in Afton built before 1939 ( 15.02%).

Vacant housing appears to be an issue in Afton. Fully 33.12% of the housing stock is classified as vacant. Left unchecked, vacant Afton homes and apartments can be a drag on the real estate market, holding Afton 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.

Afton Home Appreciation Rates

Real estate appreciation rates in Afton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.31% during the period.

Appreciation rates are so strong in Afton that despite a nationwide downturn in the housing market, Afton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Afton appreciation rates continue to be some of the highest in America, at 6.94%, which is higher than appreciation rates in 84.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Afton. Afton appreciation rates in the latest quarter were at 2.24%, which equates to an annual appreciation rate of 9.28%.

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

Average Home Values

 

Median Home Value:
$356,923

Afton, VA HOME PRICES

Value Range
> $1,069,000 2.3
$802,001 - $1,069,000 9.8
$534,001 - $802,000 12.7
$427,001 - $534,000 9.8
$321,001 - $427,000 16.1
$214,001 - $321,000 23.4
$107,001 - $214,000 15.9
$53,001 - $107,000 5.8
$0 - $53,000 4.2

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
12.1098553610119 14.1274238227147

Number Of Homes And Apartments:
1,994

Rent & Ownership

 

Average Market Rent:
$1,039 / per month

Homeownership Rate

Homeownership
Owners 74.52
Renters 25.48
Vacant 33.12

Housing Market Details

 

Age of Homes

AGE OF Afton HOMES
2000 or Newer 15.4
1970 - 1999 51.9
1940 - 1969 17.6
1939 or Older 15.0

Types of Homes

TYPE OF Afton HOMES
Single-Family 80.0
Townhomes 1.3
Small Apt. Buildings 3.9
Apt. Complexes 8.8
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Afton HOMES
No Bedroom 1.94
1 Bedroom 9.14
2 Bedrooms 23.76
3 Bedrooms 37.98
4 Bedrooms 19.89
5 or more bedrooms 7.29

Afton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
65.43% 3.01% 7 8
* 10 is highest