Grundy, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Grundy Neighborhoods Since 2000




Grundy, 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

Grundy Housing Market Information

With 978 people, 319 houses or apartments, and a median cost of homes of $74,358, house prices in Grundy are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Grundy, accounting for 78.48% of the town's housing units. Other types of housing that are prevalent in Grundy include large apartment complexes or high rise apartments ( 12.22%), duplexes, homes converted to apartments or other small apartment buildings ( 4.65%), and a few row houses and other attached homes ( 2.44%).

The most prevalent building size and type in Grundy are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.18% owning and 43.82% renting.

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. Grundy's housing was primarily built during this period, from the '40s through the '60s. A full 41.08% of the town's housing hails from this era. Other housing ages represented in Grundy include homes built between 1970-1999 ( 26.89%) and housing constructed before 1939 ( 20.54%). There's also some housing in Grundy built between 2000 and later ( 11.49%).

Vacant housing appears to be an issue in Grundy. Fully 22.00% of the housing stock is classified as vacant. Left unchecked, vacant Grundy homes and apartments can be a drag on the real estate market, holding Grundy 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.

Grundy Home Appreciation Rates

Grundy's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grundy during the period has been just -1.37%, which is lower than 80% of US communities.

Over the last year, Grundy appreciation rates have trailed the rest of the nation. In the last twelve months, Grundy's appreciation rate has been 0.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grundy were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

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

Average Home Values

 

Median Home Value:
$74,358

Grundy, VA HOME PRICES

Value Range
> $1,029,000 0.9
$772,001 - $1,029,000 0.0
$514,001 - $772,000 0.6
$412,001 - $514,000 0.1
$309,001 - $412,000 3.0
$206,001 - $309,000 7.6
$103,001 - $206,000 21.4
$51,001 - $103,000 37.3
$0 - $51,000 29.2

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
93.431384038439 97.5069252077562

Number Of Homes And Apartments:
319

Grundy 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
34.88% 1.75% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$844 / per month

Homeownership Rate

Homeownership
Owners 56.18
Renters 43.82
Vacant 22.00

Housing Market Details

 

Age of Homes

AGE OF Grundy HOMES
2000 or Newer 11.5
1970 - 1999 26.9
1940 - 1969 41.1
1939 or Older 20.5

Types of Homes

TYPE OF Grundy HOMES
Single-Family 78.5
Townhomes 2.4
Small Apt. Buildings 4.6
Apt. Complexes 12.2
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Grundy HOMES
No Bedroom 3.42
1 Bedroom 15.40
2 Bedrooms 13.20
3 Bedrooms 41.32
4 Bedrooms 20.29
5 or more bedrooms 6.36