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 a population of 44,563, 13,771 total housing units (homes and apartments), and a median house value of $339,898, 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 46.24% of the town's housing units. Other types of housing that are prevalent in Blacksburg include single-family detached homes ( 32.53%), row houses and other attached homes ( 11.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.09%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
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 ( 20.28%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.11%). There's also some housing in Blacksburg built before 1939 ( 3.74%).
Vacant housing appears to be an issue in Blacksburg. Fully 10.99% 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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Blacksburg during the period has been just 0.61%, which is lower than 70% of US communities.
Over the last year, Blacksburg appreciation rates have trailed the rest of the nation. In the last twelve months, Blacksburg's appreciation rate has been 2.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Blacksburg were at 3.35%, which equates to an annual appreciation rate of 14.11%.
Importantly, NeighborhoodScout’s exclusive research found that Blacksburg's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Virginia, our data show that Blacksburg's latest annual appreciation rate is lower than 60% 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.
|$840,001 - $1,121,000||2.1|
|$560,001 - $840,000||8.2|
|$448,001 - $560,000||20.2|
|$336,001 - $448,000||18.6|
|$224,001 - $336,000||31.8|
|$112,001 - $224,000||12.0|
|$56,001 - $112,000||1.3|
|$0 - $56,000||4.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF Blacksburg HOMES|
|2000 or Newer||20.3|
|1970 - 1999||56.9|
|1940 - 1969||19.1|
|1939 or Older||3.7|
|TYPE OF Blacksburg HOMES|
|Small Apt. Buildings||8.1|
|SIZE OF Blacksburg HOMES|
|5 or more bedrooms||5.48|