Crewe, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Crewe, 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

Crewe Housing Market Information

With 2,241 people, 952 houses or apartments, and a median cost of homes of $135,000, house prices in Crewe are solidly below the national average.

Single-family detached homes are the single most common housing type in Crewe, accounting for 85.24% of the town's housing units. Other types of housing that are prevalent in Crewe include large apartment complexes or high rise apartments ( 7.64%), duplexes, homes converted to apartments or other small apartment buildings ( 5.99%), and a few mobile homes or trailers ( 1.13%).

The most prevalent building size and type in Crewe are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.71% owning and 39.29% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Crewe's housing was primarily built during this period, from the '40s through the '60s. A full 40.10% of the town's housing hails from this era. Other housing ages represented in Crewe include homes built between 1970-1999 ( 31.86%) and housing constructed before 1939 ( 26.65%). There's also some housing in Crewe built between 2000 and later ( 1.39%).

Vacant housing appears to be an issue in Crewe. Fully 17.36% of the housing stock is classified as vacant. Left unchecked, vacant Crewe homes and apartments can be a drag on the real estate market, holding Crewe 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.

Crewe Home Appreciation Rates

Real estate appreciation rates in Crewe's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.71% during the period.

Over the last year, Crewe appreciation rates have trailed the rest of the nation. In the last twelve months, Crewe's appreciation rate has been 1.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Crewe were at -1.60%, which equates to an annual appreciation rate of -6.23%.

Notably, Crewe's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Crewe's latest annual appreciation rate is lower than 50% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$135,000

Crewe, VA HOME PRICES

Value Range
> $1,043,000 1.1
$783,001 - $1,043,000 0.0
$522,001 - $783,000 0.1
$417,001 - $522,000 2.2
$313,001 - $417,000 1.6
$209,001 - $313,000 19.1
$104,001 - $209,000 41.8
$52,001 - $104,000 25.0
$0 - $52,000 9.2

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
57.2014531817649 71.191135734072

Number Of Homes And Apartments:
952

Crewe 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
65.09% 2.95% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$958 / per month

Homeownership Rate

Homeownership
Owners 60.71
Renters 39.29
Vacant 17.36

Housing Market Details

 

Age of Homes

AGE OF Crewe HOMES
2000 or Newer 1.4
1970 - 1999 31.9
1940 - 1969 40.1
1939 or Older 26.6

Types of Homes

TYPE OF Crewe HOMES
Single-Family 85.2
Townhomes 0.0
Small Apt. Buildings 6.0
Apt. Complexes 7.6
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Crewe HOMES
No Bedroom 0.43
1 Bedroom 7.90
2 Bedrooms 20.05
3 Bedrooms 57.73
4 Bedrooms 10.24
5 or more bedrooms 3.65

Popular Neighborhoods in Crewe

Zip Codes in Crewe, VA