Blacksburg, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Blacksburg, 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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Blacksburg Housing Market Information

With 44,563 people, 13,938 houses or apartments, and a median cost of homes of $339,652, Blacksburg real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Blacksburg, accounting for 48.10% of the town's housing units. Other types of housing that are prevalent in Blacksburg include single-family detached homes ( 30.90%), row houses and other attached homes ( 11.66%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.39%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

Renters dominate Blacksburg's housing market, and most live in three of four bedroom dwellings.

There is a lot of housing in Blacksburg 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 Blacksburg built between 1940-1969 ( 19.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.00%). There's also some housing in Blacksburg built before 1939 ( 3.36%).

Blacksburg Home Appreciation Rates

Real estate appreciation rates in Blacksburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.66% during the period.

NeighborhoodScout's data show that during the latest twelve months, Blacksburg's appreciation rate, at 5.44%, has been at or slightly above the national average. In the latest quarter, Blacksburg's appreciation rate has been 2.80%, which annualizes to a rate of 11.69%.

Relative to Virginia, our data show that Blacksburg's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Blacksburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Blacksburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Blacksburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$339,652

Blacksburg, VA HOME PRICES

Value Range
> $1,168,000 0.7
$876,001 - $1,168,000 1.8
$584,001 - $876,000 8.5
$468,001 - $584,000 16.4
$350,001 - $468,000 21.7
$234,001 - $350,000 30.2
$117,001 - $234,000 13.1
$59,001 - $117,000 1.6
$0 - $59,000 5.9

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
15.614598540146 17.6308539944904

Number Of Homes And Apartments:
13,938

Blacksburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
Since 2000:
2000 Q1 - 2018 Q3
64.92% 2.70%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,367 / per month

Homeownership Rate

Homeownership
Owners 22.88
Renters 77.12
Vacant 9.43

Housing Market Details

 

Age of Homes

AGE OF Blacksburg HOMES
2000 or Newer 17.0
1970 - 1999 60.4
1940 - 1969 19.3
1939 or Older 3.4

Types of Homes

TYPE OF Blacksburg HOMES
Single-Family 30.9
Townhomes 11.7
Small Apt. Buildings 7.4
Apt. Complexes 48.1
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Blacksburg HOMES
No Bedroom 2.96
1 Bedroom 11.92
2 Bedrooms 31.61
3 Bedrooms 30.83
4 Bedrooms 17.71
5 or more bedrooms 4.96