Axton, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Axton Neighborhoods Since 2000




Axton, 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

Axton Housing Market Information

With 7,654 people, 1,536 houses or apartments, and a median cost of homes of $70,218, house prices in Axton are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Axton, accounting for 67.90% of the town's housing units. Other types of housing that are prevalent in Axton include mobile homes or trailers ( 29.46%), duplexes, homes converted to apartments or other small apartment buildings ( 1.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Axton. Owner-occupied housing accounts for 78.63% of Axton's homes, and 64.29% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Axton 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 Axton built between 1940-1969 ( 22.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.73%). There's also some housing in Axton built before 1939 ( 5.21%).

Vacant housing appears to be an issue in Axton. Fully 18.52% of the housing stock is classified as vacant. Left unchecked, vacant Axton homes and apartments can be a drag on the real estate market, holding Axton 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.

Axton Home Appreciation Rates

Homes have actually lost value in Axton over the last then years, as home values have seen a decline of 22.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Axton home appreciation rates at -1.60%, which equates to an annual appreciation rate of -6.23%.

Over the last year, Axton appreciation rates have trailed the rest of the nation. In the last twelve months, Axton's appreciation rate has been -0.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Axton were at -1.60%, which equates to an annual appreciation rate of -6.23%.

Notably, Axton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Axton's latest annual appreciation rate is lower than 70% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$70,218

Axton, VA HOME PRICES

Value Range
> $986,000 0.6
$739,001 - $986,000 0.3
$493,001 - $739,000 0.3
$394,001 - $493,000 0.7
$296,001 - $394,000 1.3
$197,001 - $296,000 6.6
$99,001 - $197,000 28.9
$49,001 - $99,000 34.6
$0 - $49,000 26.7

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
95.1716863939998 98.0609418282548

Number Of Homes And Apartments:
1,536

Axton 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
15.63% 0.85% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$716 / per month

Homeownership Rate

Homeownership
Owners 78.63
Renters 21.37
Vacant 18.52

Housing Market Details

 

Age of Homes

AGE OF Axton HOMES
2000 or Newer 16.7
1970 - 1999 55.1
1940 - 1969 22.9
1939 or Older 5.2

Types of Homes

TYPE OF Axton HOMES
Single-Family 67.9
Townhomes 0.4
Small Apt. Buildings 1.3
Apt. Complexes 0.9
Mobile Homes 29.5
Other 0.0

Home Size

SIZE OF Axton HOMES
No Bedroom 0.00
1 Bedroom 4.02
2 Bedrooms 29.75
3 Bedrooms 56.81
4 Bedrooms 7.49
5 or more bedrooms 1.94