Dry Fork, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Dry Fork, 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

Dry Fork Housing Market Information

With a population of 7,448, 1,648 total housing units (homes and apartments), and a median house value of $125,718, house prices in Dry Fork are solidly below the national average.

Single-family detached homes are the single most common housing type in Dry Fork, accounting for 78.00% of the town's housing units. Other types of housing that are prevalent in Dry Fork include mobile homes or trailers ( 19.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Dry Fork. Owner-occupied housing accounts for 80.78% of Dry Fork's homes, and 69.99% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Dry Fork 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 Dry Fork built between 1940-1969 ( 18.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.50%). There's also some housing in Dry Fork built before 1939 ( 6.72%).

Vacant housing appears to be an issue in Dry Fork. Fully 12.47% of the housing stock is classified as vacant. Left unchecked, vacant Dry Fork homes and apartments can be a drag on the real estate market, holding Dry Fork 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.

Dry Fork Home Appreciation Rates

Real estate appreciation rates in Dry Fork's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.20% during the period.

Over the last year, Dry Fork appreciation rates have trailed the rest of the nation. In the last twelve months, Dry Fork's appreciation rate has been -1.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dry Fork were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

Relative to Virginia, our data show that Dry Fork's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$125,718

Dry Fork, VA HOME PRICES

Value Range
> $1,030,000 0.0
$773,001 - $1,030,000 0.0
$515,001 - $773,000 1.6
$412,001 - $515,000 2.7
$309,001 - $412,000 5.3
$206,001 - $309,000 13.2
$103,001 - $206,000 38.2
$51,001 - $103,000 27.8
$0 - $51,000 11.3

Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
62.1762568850346 74.5152354570637

Number Of Homes And Apartments:
1,648

Dry Fork 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
23.59% 1.24% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$852 / per month

Homeownership Rate

Homeownership
Owners 80.78
Renters 19.22
Vacant 12.47

Housing Market Details

 

Age of Homes

AGE OF Dry Fork HOMES
2000 or Newer 17.5
1970 - 1999 57.0
1940 - 1969 18.8
1939 or Older 6.7

Types of Homes

TYPE OF Dry Fork HOMES
Single-Family 78.0
Townhomes 0.2
Small Apt. Buildings 1.0
Apt. Complexes 0.9
Mobile Homes 19.9
Other 0.0

Home Size

SIZE OF Dry Fork HOMES
No Bedroom 0.25
1 Bedroom 0.00
2 Bedrooms 25.66
3 Bedrooms 54.74
4 Bedrooms 15.25
5 or more bedrooms 4.10

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Zip Codes in Dry Fork, VA