Blacksburg, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Blacksburg Neighborhoods Since 2000




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 Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Blacksburg Housing Market Information

With 44,215 people, 13,525 houses or apartments, and a median cost of homes of $332,205, 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 47.21% of the town's housing units. Other types of housing that are prevalent in Blacksburg include single-family detached homes ( 30.55%), row houses and other attached homes ( 13.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.85%). 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 1940-1969 ( 20.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.47%). There's also some housing in Blacksburg built before 1939 ( 4.10%).

Vacant housing appears to be an issue in Blacksburg. Fully 10.28% 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 0.16% during the period.

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 2.48%, 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 5.09%, which equates to an annual appreciation rate of 21.97%.

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 50% 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:
$332,205

Blacksburg, VA HOME PRICES

Value Range
> $1,082,000 0.7
$812,001 - $1,082,000 1.3
$541,001 - $812,000 9.4
$433,001 - $541,000 11.2
$324,001 - $433,000 24.6
$217,001 - $324,000 33.2
$108,001 - $217,000 12.7
$54,001 - $108,000 1.6
$0 - $54,000 5.1

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
14.2865507348205 16.6204986149585

Number Of Homes And Apartments:
13,525

Blacksburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
54.83% 2.53% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,220 / per month

Homeownership Rate

Homeownership
Owners 22.31
Renters 77.69
Vacant 10.28

Housing Market Details

 

Age of Homes

AGE OF Blacksburg HOMES
2000 or Newer 15.5
1970 - 1999 60.4
1940 - 1969 20.0
1939 or Older 4.1

Types of Homes

TYPE OF Blacksburg HOMES
Single-Family 30.5
Townhomes 13.3
Small Apt. Buildings 6.8
Apt. Complexes 47.2
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Blacksburg HOMES
No Bedroom 1.47
1 Bedroom 13.95
2 Bedrooms 30.48
3 Bedrooms 31.48
4 Bedrooms 18.61
5 or more bedrooms 4.02