Blue Ridge VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Blue Ridge, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Blue Ridge Housing Market Information

With 3,082 people, 1,246 houses or apartments, and a median cost of homes of $235,994, Blue Ridge real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Blue Ridge, accounting for 86.07% of the town's housing units. Other types of housing that are prevalent in Blue Ridge include mobile homes or trailers ( 7.55%), duplexes, homes converted to apartments or other small apartment buildings ( 6.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Blue Ridge. Owner-occupied housing accounts for 91.25% of Blue Ridge's homes, and 76.34% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Blue Ridge 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 Blue Ridge built between 1940-1969 ( 22.49%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.40%). There's also some housing in Blue Ridge built before 1939 ( 2.96%).

Blue Ridge Home Appreciation Rates

Blue Ridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Blue Ridge during the period has been just 0.44%, which is lower than 80% of US communities.

Appreciation rates are so strong in Blue Ridge that despite a nationwide downturn in the housing market, Blue Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Blue Ridge appreciation rates continue to be some of the highest in America, at 5.52%, which is higher than appreciation rates in 79.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Blue Ridge. Blue Ridge appreciation rates in the latest quarter were at 1.13%, which equates to an annual appreciation rate of 4.61%.

Relative to Virginia, our data show that Blue Ridge's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$235,994

Blue Ridge, VA HOME PRICES

Value Range
> $1,125,000 0.0
$844,001 - $1,125,000 0.1
$563,001 - $844,000 3.9
$450,001 - $563,000 4.3
$337,001 - $450,000 14.2
$225,001 - $337,000 29.5
$113,001 - $225,000 41.1
$56,001 - $113,000 3.2
$0 - $56,000 3.6

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
30.651094890511 41.0468319559229

Number Of Homes And Apartments:
1,246

Blue Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
45.51% 1.89%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,103 / per month

Homeownership Rate

Homeownership
Owners 91.25
Renters 8.75
Vacant 3.04

Housing Market Details

 

Age of Homes

AGE OF Blue Ridge HOMES
2000 or Newer 21.4
1970 - 1999 53.2
1940 - 1969 22.5
1939 or Older 3.0

Types of Homes

TYPE OF Blue Ridge HOMES
Single-Family 86.1
Townhomes 0.0
Small Apt. Buildings 6.4
Apt. Complexes 0.0
Mobile Homes 7.5
Other 0.0

Home Size

SIZE OF Blue Ridge HOMES
No Bedroom 0.00
1 Bedroom 0.93
2 Bedrooms 15.02
3 Bedrooms 52.45
4 Bedrooms 23.89
5 or more bedrooms 7.70

Popular Neighborhoods in Blue Ridge

Zip Codes in Blue Ridge, VA