Altavista, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Altavista, 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

Altavista Housing Market Information

With 3,474 people, 1,386 houses or apartments, and a median cost of homes of $119,924, 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 76.96% of the town's housing units. Other types of housing that are prevalent in Altavista include large apartment complexes or high rise apartments ( 9.03%), duplexes, homes converted to apartments or other small apartment buildings ( 8.72%), and a few mobile homes or trailers ( 4.98%).

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 59.14% owning and 40.86% 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 52.86% of the town's housing hails from this era. Other housing ages represented in Altavista include homes built between 1970-1999 ( 31.51%) and housing constructed before 1939 ( 11.96%). There's also some housing in Altavista built between 2000 and later ( 3.67%).

Vacant housing appears to be an issue in Altavista. Fully 13.70% 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 -0.75% during the period.

Over the last year, Altavista appreciation rates have trailed the rest of the nation. In the last twelve months, Altavista's appreciation rate has been 1.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Altavista were at 0.50%, which equates to an annual appreciation rate of 2.02%.

Relative to Virginia, our data show that Altavista's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$119,924

Altavista, VA HOME PRICES

Value Range
> $994,000 0.0
$745,001 - $994,000 0.0
$497,001 - $745,000 0.0
$398,001 - $497,000 0.7
$298,001 - $398,000 1.9
$199,001 - $298,000 10.5
$100,001 - $199,000 42.2
$50,001 - $100,000 30.8
$0 - $50,000 13.8

Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
65.4048986288527 77.2853185595568

Number Of Homes And Apartments:
1,386

Altavista 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
30.30% 1.55% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$881 / per month

Homeownership Rate

Homeownership
Owners 59.14
Renters 40.86
Vacant 13.70

Housing Market Details

 

Age of Homes

AGE OF Altavista HOMES
2000 or Newer 3.7
1970 - 1999 31.5
1940 - 1969 52.9
1939 or Older 12.0

Types of Homes

TYPE OF Altavista HOMES
Single-Family 77.0
Townhomes 0.3
Small Apt. Buildings 8.7
Apt. Complexes 9.0
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Altavista HOMES
No Bedroom 0.37
1 Bedroom 7.97
2 Bedrooms 38.48
3 Bedrooms 39.54
4 Bedrooms 8.47
5 or more bedrooms 5.17

Popular Neighborhoods in Altavista

Zip Codes in Altavista, VA