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.
With a population of 8,169, 2,571 total housing units (homes and apartments), and a median house value of $169,631, 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 55.67% of the town's housing units. Other types of housing that are prevalent in Farmville include large apartment complexes or high rise apartments ( 26.80%), duplexes, homes converted to apartments or other small apartment buildings ( 13.84%), and a few mobile homes or trailers ( 2.20%).
Farmville is dominated by renter-occupied one, two, or no bedrooms apartments. 72.15% 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 34.45% of the town's housing hails from this era. Other housing ages represented in Farmville include homes built between 1970-1999 ( 31.47%) and housing constructed between 2000 and later ( 18.51%). There's also some housing in Farmville built before 1939 ( 15.57%).
Vacant housing appears to be an issue in Farmville. Fully 12.99% of the housing stock is classified as vacant. Left unchecked, vacant Farmville homes and apartments can be a drag on the real estate market, holding Farmville 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.
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 -1.65%, which is lower than 80% 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 -0.73%, 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 -1.60%, which equates to an annual appreciation rate of -6.23%.
Notably, Farmville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Farmville's latest annual appreciation rate is lower 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 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.
|$750,001 - $1,001,000||2.4|
|$500,001 - $750,000||0.6|
|$400,001 - $500,000||2.7|
|$300,001 - $400,000||8.9|
|$200,001 - $300,000||24.3|
|$100,001 - $200,000||38.7|
|$50,001 - $100,000||12.1|
|$0 - $50,000||10.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Farmville HOMES|
|2000 or Newer||18.5|
|1970 - 1999||31.5|
|1940 - 1969||34.5|
|1939 or Older||15.6|
|TYPE OF Farmville HOMES|
|Small Apt. Buildings||13.8|
|SIZE OF Farmville HOMES|
|5 or more bedrooms||1.66|