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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Blacksburg Housing Market Information

With 44,233 people, 13,436 houses or apartments, and a median cost of homes of $392,589, 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 45.67% of the town's housing units. Other types of housing that are prevalent in Blacksburg include single-family detached homes ( 33.19%), row houses and other attached homes ( 9.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.99%). 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 ( 22.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.71%). There's also some housing in Blacksburg built before 1939 ( 3.72%).

Vacant housing appears to be an issue in Blacksburg. Fully 11.91% 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.

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 2.07% during the period.

Appreciation rates are so strong in Blacksburg that despite a nationwide downturn in the housing market, Blacksburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Blacksburg appreciation rates continue to be some of the highest in America, at 5.56%, which is higher than appreciation rates in 81.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Blacksburg. Blacksburg appreciation rates in the latest quarter were at 1.39%, which equates to an annual appreciation rate of 5.67%.

Relative to Virginia, our data show that Blacksburg's latest annual appreciation rate is higher than 90% 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:
$392,589

Blacksburg, VA HOME PRICES

Value Range
> $1,199,000 1.5
$899,001 - $1,199,000 2.2
$600,001 - $899,000 7.3
$480,001 - $600,000 21.0
$360,001 - $480,000 22.6
$240,001 - $360,000 29.3
$120,001 - $240,000 10.2
$60,001 - $120,000 1.6
$0 - $60,000 4.3

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
13.0686131386861 14.6005509641873

Number Of Homes And Apartments:
13,436

Blacksburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
84.10% 2.99%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,564 / per month

Homeownership Rate

Homeownership
Owners 25.16
Renters 74.84
Vacant 11.91

Housing Market Details

 

Age of Homes

AGE OF Blacksburg HOMES
2000 or Newer 22.7
1970 - 1999 56.8
1940 - 1969 16.7
1939 or Older 3.7

Types of Homes

TYPE OF Blacksburg HOMES
Single-Family 33.2
Townhomes 9.7
Small Apt. Buildings 9.0
Apt. Complexes 45.7
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Blacksburg HOMES
No Bedroom 4.98
1 Bedroom 10.97
2 Bedrooms 26.30
3 Bedrooms 30.87
4 Bedrooms 22.23
5 or more bedrooms 4.64