Grottoes, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Grottoes Neighborhoods Since 2000




Grottoes, 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

Grottoes Housing Market Information

With 2,751 people, 1,090 houses or apartments, and a median cost of homes of $180,081, Grottoes real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Grottoes, accounting for 76.50% of the town's housing units. Other types of housing that are prevalent in Grottoes include large apartment complexes or high rise apartments ( 8.76%), row houses and other attached homes ( 7.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.20%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grottoes. Owner-occupied housing accounts for 70.92% of Grottoes's homes, and 62.62% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Grottoes 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 Grottoes built between 2000 and later ( 18.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.78%). There's also some housing in Grottoes built before 1939 ( 11.36%).

Grottoes Home Appreciation Rates

Grottoes's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grottoes during the period has been just -1.00%, which is lower than 70% of US communities.

Over the last year, Grottoes appreciation rates have trailed the rest of the nation. In the last twelve months, Grottoes's appreciation rate has been -1.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grottoes were at -0.75%, which equates to an annual appreciation rate of -2.99%.

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

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

Average Home Values

 

Median Home Value:
$180,081

Grottoes, VA HOME PRICES

Value Range
> $1,036,000 0.0
$777,001 - $1,036,000 1.0
$518,001 - $777,000 0.3
$414,001 - $518,000 0.5
$311,001 - $414,000 5.8
$207,001 - $311,000 21.8
$104,001 - $207,000 50.7
$52,001 - $104,000 9.0
$0 - $52,000 10.9

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
38.1460213289582 53.4626038781163

Number Of Homes And Apartments:
1,090

Grottoes 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
54.62% 2.56% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$879 / per month

Homeownership Rate

Homeownership
Owners 70.92
Renters 29.08
Vacant 5.46

Housing Market Details

 

Age of Homes

AGE OF Grottoes HOMES
2000 or Newer 18.6
1970 - 1999 54.3
1940 - 1969 15.8
1939 or Older 11.4

Types of Homes

TYPE OF Grottoes HOMES
Single-Family 76.5
Townhomes 7.5
Small Apt. Buildings 7.2
Apt. Complexes 8.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Grottoes HOMES
No Bedroom 0.35
1 Bedroom 10.23
2 Bedrooms 21.60
3 Bedrooms 50.82
4 Bedrooms 11.80
5 or more bedrooms 5.20