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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 24,339 people, 7,914 houses or apartments, and a median cost of homes of $581,055, Herndon house prices are not only among the most expensive in Virginia, Herndon real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Herndon, accounting for 38.91% of the town's housing units. Other types of housing that are prevalent in Herndon include row houses and other attached homes ( 30.53%), large apartment complexes or high rise apartments ( 28.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.18%).
The most prevalent building size and type in Herndon are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.33% owning and 36.67% renting.
There is a lot of housing in Herndon 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 Herndon built between 2000 and later ( 13.62%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.60%). There's also some housing in Herndon built before 1939 ( 2.18%).
Herndon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Herndon during the period has been just 4.03%, which is lower than 80% of US communities.
Over the last year, Herndon appreciation rates have trailed the rest of the nation. In the last twelve months, Herndon's appreciation rate has been 0.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Herndon were at -2.60%, which equates to an annual appreciation rate of -10.00%.
Notably, Herndon's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Herndon'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 town. Individual neighborhoods within Herndon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Herndon - 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 Herndon real estate investment or home purchase decisions.
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