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 3,329 people, 1,451 houses or apartments, and a median cost of homes of $184,714, house prices in Altavista are solidly below the national average.
Single-family detached homes are the single most common housing type in Altavista, accounting for 76.19% of the town's housing units. Other types of housing that are prevalent in Altavista include large apartment complexes or high rise apartments ( 12.45%), mobile homes or trailers ( 7.73%), and a few row houses and other attached homes ( 1.99%).
The most prevalent building size and type in Altavista are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.00% owning and 37.00% renting.
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. Altavista's housing was primarily built during this period, from the '40s through the '60s. A full 51.48% of the town's housing hails from this era. Other housing ages represented in Altavista include homes built between 1970-1999 ( 33.78%) and housing constructed before 1939 ( 12.81%). There's also some housing in Altavista built between 2000 and later ( 1.93%).
Vacant housing appears to be an issue in Altavista. Fully 12.33% of the housing stock is classified as vacant. Left unchecked, vacant Altavista homes and apartments can be a drag on the real estate market, holding Altavista 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.
Real estate appreciation rates in Altavista's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.78% during the period.
Appreciation rates are so strong in Altavista that despite a nationwide downturn in the housing market, Altavista real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Altavista appreciation rates continue to be some of the highest in America, at 8.38%, which is higher than appreciation rates in 88.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Altavista. Altavista appreciation rates in the latest quarter were at -0.19%, which equates to an annual appreciation rate of -0.78%.
Relative to Virginia, our data show that Altavista's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.
$184,714
for Virginia
for nation
1,451
$1,228 / per month