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
With a population of 2,677, 1,333 total housing units (homes and apartments), and a median house value of $110,734, house prices in Hillsville are solidly below the national average.
Single-family detached homes are the single most common housing type in Hillsville, accounting for 65.47% of the town's housing units. Other types of housing that are prevalent in Hillsville include large apartment complexes or high rise apartments ( 14.83%), duplexes, homes converted to apartments or other small apartment buildings ( 14.77%), and a few mobile homes or trailers ( 3.72%).
The most prevalent building size and type in Hillsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.26% owning and 48.74% renting.
There is a lot of housing in Hillsville 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 Hillsville built between 1940-1969 ( 31.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.82%). There's also some housing in Hillsville built before 1939 ( 3.72%).
Vacant housing appears to be an issue in Hillsville. Fully 18.67% of the housing stock is classified as vacant. Left unchecked, vacant Hillsville homes and apartments can be a drag on the real estate market, holding Hillsville 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.
Hillsville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hillsville during the period has been just -1.08%, which is lower than 70% of US communities.
Over the last year, Hillsville appreciation rates have trailed the rest of the nation. In the last twelve months, Hillsville's appreciation rate has been 0.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hillsville were at -1.60%, which equates to an annual appreciation rate of -6.23%.
Notably, Hillsville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Hillsville's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.
|$777,001 - $1,036,000||1.3|
|$518,001 - $777,000||0.3|
|$415,001 - $518,000||0.8|
|$311,001 - $415,000||2.0|
|$207,001 - $311,000||12.9|
|$104,001 - $207,000||40.0|
|$52,001 - $104,000||32.0|
|$0 - $52,000||10.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Hillsville HOMES|
|2000 or Newer||4.8|
|1970 - 1999||59.7|
|1940 - 1969||31.7|
|1939 or Older||3.7|
|TYPE OF Hillsville HOMES|
|Small Apt. Buildings||14.8|
|SIZE OF Hillsville HOMES|
|5 or more bedrooms||1.71|