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
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Big Stone Gap HOMES|
|2000 or Newer||5.3|
|1970 - 1999||42.3|
|1940 - 1969||34.2|
|1939 or Older||18.2|
|TYPE OF Big Stone Gap HOMES|
|Small Apt. Buildings||4.3|
|SIZE OF Big Stone Gap HOMES|
|5 or more bedrooms||2.38|