Farmville, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Farmville, VA Real Estate Data


Farmville Housing Market Information

With 8,169 people, 2,590 houses or apartments, and a median cost of homes of $174,032, Farmville 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 Farmville, accounting for 55.20% of the town's housing units. Other types of housing that are prevalent in Farmville include large apartment complexes or high rise apartments ( 25.65%), duplexes, homes converted to apartments or other small apartment buildings ( 15.07%), and a few mobile homes or trailers ( 2.23%).

Farmville is dominated by renter-occupied one, two, or no bedrooms apartments. 72.75% of Farmville's dwellings are rentals.

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. Farmville's housing was primarily built during this period, from the '40s through the '60s. A full 35.00% of the town's housing hails from this era. Other housing ages represented in Farmville include homes built between 1970-1999 ( 30.64%) and housing constructed before 1939 ( 17.55%). There's also some housing in Farmville built between 2000 and later ( 16.81%).

Farmville Home Appreciation Rates

Farmville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Farmville during the period has been just -0.98%, which is lower than 70% of US communities.

Over the last year, Farmville appreciation rates have trailed the rest of the nation. In the last twelve months, Farmville's appreciation rate has been 2.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Farmville were at 1.96%, which equates to an annual appreciation rate of 8.06%.

Relative to Virginia, our data show that Farmville's latest annual appreciation rate is lower than 70% 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 Farmville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Farmville - 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 Farmville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$174,032

Farmville, VA HOME PRICES

Value Range
> $988,000 0.3
$741,001 - $988,000 2.0
$494,001 - $741,000 0.5
$396,001 - $494,000 2.2
$296,001 - $396,000 9.6
$198,001 - $296,000 25.5
$99,001 - $198,000 37.5
$50,001 - $99,000 10.8
$0 - $50,000 11.5

Average for VA
Average for Nation

Value Relative to Nation Value Relative to State
41.3187327985009 57.0637119113573

Number Of Homes And Apartments:
2,590

Rent & Ownership

 

Average Market Rent:
$980 / per month

Homeownership Rate

Homeownership
Owners 27.25
Renters 72.75
Vacant 8.35

Housing Market Details

 

Age of Homes

AGE OF Farmville HOMES
2000 or Newer 16.8
1970 - 1999 30.6
1940 - 1969 35.0
1939 or Older 17.6

Types of Homes

TYPE OF Farmville HOMES
Single-Family 55.2
Townhomes 1.8
Small Apt. Buildings 15.1
Apt. Complexes 25.7
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Farmville HOMES
No Bedroom 0.81
1 Bedroom 11.78
2 Bedrooms 39.99
3 Bedrooms 31.78
4 Bedrooms 13.69
5 or more bedrooms 1.95

Farmville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
46.79% 2.28% 4 6
* 10 is highest