Fredericksburg, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fredericksburg Neighborhoods Since 2000




Fredericksburg, 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

Fredericksburg Housing Market Information

With 28,118 people, 10,080 houses or apartments, and a median cost of homes of $337,584, Fredericksburg house prices are not only among the most expensive in Virginia, Fredericksburg real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Fredericksburg, accounting for 40.74% of the city's housing units. Other types of housing that are prevalent in Fredericksburg include single-family detached homes ( 39.88%), row houses and other attached homes ( 11.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.46%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Fredericksburg is dominated by renter-occupied one, two, or no bedrooms apartments. 68.79% of Fredericksburg's dwellings are rentals.

There is a lot of housing in Fredericksburg 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 Fredericksburg built between 1940-1969 ( 23.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.20%). There's also some housing in Fredericksburg built before 1939 ( 15.72%).

Vacant housing appears to be an issue in Fredericksburg. Fully 10.42% of the housing stock is classified as vacant. Left unchecked, vacant Fredericksburg homes and apartments can be a drag on the real estate market, holding Fredericksburg 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.

Fredericksburg Home Appreciation Rates

Fredericksburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fredericksburg during the period has been just -1.38%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Fredericksburg's appreciation rate, at 4.57%, has been at or slightly above the national average. In the latest quarter, Fredericksburg's appreciation rate has been -0.17%, which annualizes to a rate of -0.70%.

Relative to Virginia, our data show that Fredericksburg'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 Fredericksburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fredericksburg - 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 Fredericksburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$337,584

Fredericksburg, VA HOME PRICES

Value Range
> $1,138,000 0.3
$853,001 - $1,138,000 1.2
$569,001 - $853,000 9.5
$455,001 - $569,000 8.3
$341,001 - $455,000 32.4
$228,001 - $341,000 27.1
$114,001 - $228,000 15.7
$57,001 - $114,000 3.5
$0 - $57,000 1.9

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
13.1137935075589 15.5124653739612

Number Of Homes And Apartments:
10,080

Fredericksburg 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
94.05% 3.92% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,315 / per month

Homeownership Rate

Homeownership
Owners 31.21
Renters 68.79
Vacant 10.42

Housing Market Details

 

Age of Homes

AGE OF Fredericksburg HOMES
2000 or Newer 22.2
1970 - 1999 38.5
1940 - 1969 23.6
1939 or Older 15.7

Types of Homes

TYPE OF Fredericksburg HOMES
Single-Family 39.9
Townhomes 11.8
Small Apt. Buildings 7.5
Apt. Complexes 40.7
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Fredericksburg HOMES
No Bedroom 2.37
1 Bedroom 14.88
2 Bedrooms 40.04
3 Bedrooms 29.02
4 Bedrooms 11.01
5 or more bedrooms 2.68