Gloucester Courthouse, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gloucester Courthouse, 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

Gloucester Courthouse Housing Market Information

With 2,974 people, 967 houses or apartments, and a median cost of homes of $274,457, Gloucester Courthouse real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Gloucester Courthouse, accounting for 71.04% of the town's housing units. Other types of housing that are prevalent in Gloucester Courthouse include duplexes, homes converted to apartments or other small apartment buildings ( 10.26%), large apartment complexes or high rise apartments ( 8.64%), and a few row houses and other attached homes ( 7.60%).

The most prevalent building size and type in Gloucester Courthouse are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.99% owning and 36.01% renting.

There is a lot of housing in Gloucester Courthouse 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 Gloucester Courthouse built between 2000 and later ( 23.74%). A lesser amount of the housing stock also hails from before 1939 ( 7.88%). There's also some housing in Gloucester Courthouse built between 1940-1969 ( 7.03%).

Gloucester Courthouse Home Appreciation Rates

Gloucester Courthouse's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gloucester Courthouse during the period has been just -1.29%, which is lower than 70% of US communities.

Over the last year, Gloucester Courthouse appreciation rates have trailed the rest of the nation. In the last twelve months, Gloucester Courthouse's appreciation rate has been 2.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gloucester Courthouse were at -0.63%, which equates to an annual appreciation rate of -2.48%.

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

Relative to Virginia, our data show that Gloucester Courthouse's latest annual appreciation rate is higher than 60% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$274,457

Gloucester Courthouse, VA HOME PRICES

Value Range
> $1,036,000 2.6
$777,001 - $1,036,000 1.5
$518,001 - $777,000 6.0
$415,001 - $518,000 3.1
$311,001 - $415,000 19.6
$207,001 - $311,000 36.7
$104,001 - $207,000 24.6
$52,001 - $104,000 3.5
$0 - $52,000 2.3

High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
19.1257470994961 22.9916897506925

Number Of Homes And Apartments:
967

Gloucester Courthouse 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
67.53% 3.04% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$916 / per month

Homeownership Rate

Homeownership
Owners 63.99
Renters 36.01
Vacant 8.17

Housing Market Details

 

Age of Homes

AGE OF Gloucester Courthouse HOMES
2000 or Newer 23.7
1970 - 1999 61.3
1940 - 1969 7.0
1939 or Older 7.9

Types of Homes

TYPE OF Gloucester Courthouse HOMES
Single-Family 71.0
Townhomes 7.6
Small Apt. Buildings 10.3
Apt. Complexes 8.6
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Gloucester Courthouse HOMES
No Bedroom 3.32
1 Bedroom 12.54
2 Bedrooms 13.20
3 Bedrooms 40.46
4 Bedrooms 23.65
5 or more bedrooms 6.84

Popular Neighborhoods in Gloucester Courthouse

Zip Codes in Gloucester Courthouse, VA