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 about Scout's Real Estate Data
With 44,233 people, 13,403 houses or apartments, and a median cost of homes of $392,204, Blacksburg house prices are not only among the most expensive in Virginia, Blacksburg real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Blacksburg, accounting for 43.19% of the town's housing units. Other types of housing that are prevalent in Blacksburg include single-family detached homes ( 35.80%), duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), and a few row houses and other attached homes ( 8.01%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which 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 2000 and later ( 24.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.83%). There's also some housing in Blacksburg built before 1939 ( 4.11%).
Vacant housing appears to be an issue in Blacksburg. Fully 13.67% of the housing stock is classified as vacant. Left unchecked, vacant Blacksburg homes and apartments can be a drag on the real estate market, holding Blacksburg 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 Blacksburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.24% during the period.
NeighborhoodScout's data show that during the latest twelve months, Blacksburg's appreciation rate, at 5.28%, has been at or slightly above the national average. In the latest quarter, Blacksburg's appreciation rate has been 1.53%, which annualizes to a rate of 6.28%.
Notably, Blacksburg's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Blacksburg's latest annual appreciation rate is lower than 70% 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.
Very High for Nation
Very High for VA
