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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Altavista, VA Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Altavista, VA Housing Market Trends

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.

Altavista Home Appreciation Rates

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.

Average Home Values

Median Home Value

$184,714

Altavista, VA Home Prices
> $1,406,000
$1,054,001 - $1,406,000
$703,001 - $1,054,000
$562,001 - $703,000
$422,001 - $562,000
$281,001 - $422,000
$141,001 - $281,000
$70,001 - $141,000
$0 - $70,000
1.1%
1.1%
0.0%
0.0%
0.0%
0.0%
3.0%
3.0%
4.4%
4.4%
18.4%
18.4%
37.4%
37.4%
16.5%
16.5%
19.1%
19.1%
0% 100.0%
% of Homes
Very Low

for Virginia

Low

for nation

Number of Homes And Apartments:

1,451

Altavista Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,228 / per month

Homeownership Rate

Owners
Renters
63.0%
63.0%
37.0%
37.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.3%
12.3%
87.7%
87.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
1.9%
1.9%
33.8%
33.8%
51.5%
51.5%
12.8%
12.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.2%
76.2%
2.0%
2.0%
1.6%
1.6%
12.4%
12.4%
7.7%
7.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
4.8%
4.8%
38.3%
38.3%
36.8%
36.8%
20.1%
20.1%
0.0%
0.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Altavista

Zip Codes in Altavista, VA