Hampton, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hampton, VA Real Estate Data


Hampton Housing Market Information

With a population of 136,454, 52,940 total housing units (homes and apartments), and a median house value of $195,677, Hampton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hampton, accounting for 65.02% of the city's housing units. Other types of housing that are prevalent in Hampton include large apartment complexes or high rise apartments ( 20.35%), duplexes, homes converted to apartments or other small apartment buildings ( 7.01%), and a few row houses and other attached homes ( 6.61%).

The most prevalent building size and type in Hampton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.74% owning and 44.26% 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. Hampton's housing was primarily built during this period, from the '40s through the '60s. A full 43.31% of the city's housing hails from this era. Other housing ages represented in Hampton include homes built between 1970-1999 ( 40.38%) and housing constructed between 2000 and later ( 9.81%). There's also some housing in Hampton built before 1939 ( 6.50%).

Vacant housing appears to be an issue in Hampton. Fully 12.01% of the housing stock is classified as vacant. Left unchecked, vacant Hampton homes and apartments can be a drag on the real estate market, holding Hampton 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.

Hampton Home Appreciation Rates

Hampton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hampton during the period has been just -2.08%, which is lower than 80% of US communities.

Over the last year, Hampton appreciation rates have trailed the rest of the nation. In the last twelve months, Hampton's appreciation rate has been -2.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hampton were at -1.35%, which equates to an annual appreciation rate of -5.30%.

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

Relative to Virginia, our data show that Hampton's latest annual appreciation rate is lower than 90% 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 Hampton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hampton - 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 Hampton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$195,677

Hampton, VA HOME PRICES

Value Range
> $996,000 0.2
$747,001 - $996,000 0.3
$498,001 - $747,000 1.6
$398,001 - $498,000 1.5
$299,001 - $398,000 7.6
$199,001 - $299,000 30.2
$100,001 - $199,000 45.2
$50,001 - $100,000 8.0
$0 - $50,000 5.0

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
33.0950427751084 48.4764542936288

Number Of Homes And Apartments:
52,940

Rent & Ownership

 

Average Market Rent:
$1,213 / per month

Homeownership Rate

Homeownership
Owners 55.74
Renters 44.26
Vacant 12.01

Housing Market Details

 

Age of Homes

AGE OF Hampton HOMES
2000 or Newer 9.8
1970 - 1999 40.4
1940 - 1969 43.3
1939 or Older 6.5

Types of Homes

TYPE OF Hampton HOMES
Single-Family 65.0
Townhomes 6.6
Small Apt. Buildings 7.0
Apt. Complexes 20.3
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Hampton HOMES
No Bedroom 10.38
1 Bedroom 6.01
2 Bedrooms 21.15
3 Bedrooms 42.00
4 Bedrooms 17.53
5 or more bedrooms 2.93

Hampton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
53.80% 2.53% 6 7
* 10 is highest