Big Stone Gap, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Big Stone Gap Neighborhoods Since 2000




Big Stone Gap, 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

Big Stone Gap Housing Market Information

With 5,416 people, 1,704 houses or apartments, and a median cost of homes of $107,992, house prices in Big Stone Gap are solidly below the national average.

Single-family detached homes are the single most common housing type in Big Stone Gap, accounting for 66.08% of the town's housing units. Other types of housing that are prevalent in Big Stone Gap include mobile homes or trailers ( 19.03%), large apartment complexes or high rise apartments ( 6.46%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.29%).

The most prevalent building size and type in Big Stone Gap are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 45.32% owning and 54.68% renting.

There is a lot of housing in Big Stone Gap 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 Big Stone Gap built between 1940-1969 ( 34.23%). A lesser amount of the housing stock also hails from before 1939 ( 18.20%). There's also some housing in Big Stone Gap built between 2000 and later ( 5.27%).

Vacant housing appears to be an issue in Big Stone Gap. Fully 11.89% of the housing stock is classified as vacant. Left unchecked, vacant Big Stone Gap homes and apartments can be a drag on the real estate market, holding Big Stone Gap 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.

Big Stone Gap Home Appreciation Rates

Real estate appreciation rates in Big Stone Gap's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.80% during the period.

Over the last year, Big Stone Gap appreciation rates have trailed the rest of the nation. In the last twelve months, Big Stone Gap's appreciation rate has been 1.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Big Stone Gap were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

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

Average Home Values

 

Median Home Value:
$107,992

Big Stone Gap, VA HOME PRICES

Value Range
> $1,033,000 0.2
$775,001 - $1,033,000 0.0
$516,001 - $775,000 0.9
$413,001 - $516,000 0.9
$310,001 - $413,000 3.5
$207,001 - $310,000 10.1
$103,001 - $207,000 34.0
$52,001 - $103,000 32.5
$0 - $52,000 18.0

Very Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
72.5946326028361 82.5484764542936

Number Of Homes And Apartments:
1,704

Big Stone Gap 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
38.23% 1.89% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$742 / per month

Homeownership Rate

Homeownership
Owners 45.32
Renters 54.68
Vacant 11.89

Housing Market Details

 

Age of Homes

AGE OF Big Stone Gap HOMES
2000 or Newer 5.3
1970 - 1999 42.3
1940 - 1969 34.2
1939 or Older 18.2

Types of Homes

TYPE OF Big Stone Gap HOMES
Single-Family 66.1
Townhomes 4.1
Small Apt. Buildings 4.3
Apt. Complexes 6.5
Mobile Homes 19.0
Other 0.0

Home Size

SIZE OF Big Stone Gap HOMES
No Bedroom 0.00
1 Bedroom 3.62
2 Bedrooms 24.92
3 Bedrooms 52.79
4 Bedrooms 16.29
5 or more bedrooms 2.38

Popular Neighborhoods in Big Stone Gap

Zip Codes in Big Stone Gap, VA