Colonial Heights, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Colonial Heights Neighborhoods Since 2000




Colonial Heights, 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 Q1 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

Colonial Heights Housing Market Information

With a population of 17,820, 7,106 total housing units (homes and apartments), and a median house value of $171,968, Colonial Heights real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Colonial Heights, accounting for 77.15% of the city's housing units. Other types of housing that are prevalent in Colonial Heights include large apartment complexes or high rise apartments ( 12.49%), duplexes, homes converted to apartments or other small apartment buildings ( 7.95%), and a few row houses and other attached homes ( 2.11%).

The most prevalent building size and type in Colonial Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.13% owning and 37.87% renting.

There is a lot of housing in Colonial Heights 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 Colonial Heights built between 1940-1969 ( 42.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.26%). There's also some housing in Colonial Heights built before 1939 ( 7.26%).

Colonial Heights Home Appreciation Rates

Colonial Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Colonial Heights during the period has been just -1.65%, which is lower than 80% of US communities.

Appreciation rates are so strong in Colonial Heights that despite a nationwide downturn in the housing market, Colonial Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Colonial Heights appreciation rates continue to be some of the highest in America, at 5.83%, which is higher than appreciation rates in 72.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Colonial Heights. Colonial Heights appreciation rates in the latest quarter were at 1.35%, which equates to an annual appreciation rate of 5.51%.

Relative to Virginia, our data show that Colonial Heights's latest annual appreciation rate is higher than 80% 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 city. Individual neighborhoods within Colonial Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Colonial Heights - 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 Colonial Heights real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$171,968

Colonial Heights, VA HOME PRICES

Value Range
> $1,070,000 0.0
$802,001 - $1,070,000 0.4
$535,001 - $802,000 0.4
$428,001 - $535,000 1.4
$321,001 - $428,000 3.6
$214,001 - $321,000 23.1
$107,001 - $214,000 58.9
$53,001 - $107,000 9.1
$0 - $53,000 3.1

Average for VA
Average for Nation

Value Relative to Nation Value Relative to State
40.9088245634595 57.0637119113573

Number Of Homes And Apartments:
7,106

Colonial Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
41.83% 2.05% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,321 / per month

Homeownership Rate

Homeownership
Owners 62.13
Renters 37.87
Vacant 8.99

Housing Market Details

 

Age of Homes

AGE OF Colonial Heights HOMES
2000 or Newer 7.3
1970 - 1999 42.9
1940 - 1969 42.6
1939 or Older 7.3

Types of Homes

TYPE OF Colonial Heights HOMES
Single-Family 77.2
Townhomes 2.1
Small Apt. Buildings 8.0
Apt. Complexes 12.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Colonial Heights HOMES
No Bedroom 1.96
1 Bedroom 4.69
2 Bedrooms 28.94
3 Bedrooms 39.54
4 Bedrooms 21.44
5 or more bedrooms 3.43