Hayes, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hayes Neighborhoods Since 2000




Hayes, 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

Hayes Housing Market Information

With a population of 15,853, 1,885 total housing units (homes and apartments), and a median house value of $221,402, Hayes real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hayes, accounting for 77.70% of the town's housing units. Other types of housing that are prevalent in Hayes include mobile homes or trailers ( 9.63%), duplexes, homes converted to apartments or other small apartment buildings ( 4.58%), and a few row houses and other attached homes ( 4.49%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hayes. Owner-occupied housing accounts for 76.41% of Hayes's homes, and 71.68% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hayes 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 Hayes built between 1940-1969 ( 15.99%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.90%). There's also some housing in Hayes built before 1939 ( 7.88%).

Vacant housing appears to be an issue in Hayes. Fully 10.10% of the housing stock is classified as vacant. Left unchecked, vacant Hayes homes and apartments can be a drag on the real estate market, holding Hayes 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.

Hayes Home Appreciation Rates

Hayes's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hayes during the period has been just -1.71%, which is lower than 80% of US communities.

Over the last year, Hayes appreciation rates have trailed the rest of the nation. In the last twelve months, Hayes's appreciation rate has been -1.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hayes were at -0.63%, which equates to an annual appreciation rate of -2.48%.

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

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

Average Home Values

 

Median Home Value:
$221,402

Hayes, VA HOME PRICES

Value Range
> $1,006,000 0.6
$754,001 - $1,006,000 3.4
$503,001 - $754,000 2.9
$402,001 - $503,000 3.7
$302,001 - $402,000 16.7
$201,001 - $302,000 32.3
$101,001 - $201,000 32.4
$50,001 - $101,000 2.8
$0 - $50,000 5.3

High for VA
High for Nation

Value Relative to Nation Value Relative to State
27.4229462088363 37.5346260387812

Number Of Homes And Apartments:
1,885

Hayes 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
55.02% 2.57% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,126 / per month

Homeownership Rate

Homeownership
Owners 76.41
Renters 23.59
Vacant 10.10

Housing Market Details

 

Age of Homes

AGE OF Hayes HOMES
2000 or Newer 13.9
1970 - 1999 62.2
1940 - 1969 16.0
1939 or Older 7.9

Types of Homes

TYPE OF Hayes HOMES
Single-Family 77.7
Townhomes 4.5
Small Apt. Buildings 4.6
Apt. Complexes 3.6
Mobile Homes 9.6
Other 0.0

Home Size

SIZE OF Hayes HOMES
No Bedroom 1.45
1 Bedroom 1.82
2 Bedrooms 23.48
3 Bedrooms 57.58
4 Bedrooms 14.10
5 or more bedrooms 1.57