Hillsville, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hillsville Neighborhoods Since 2000




Hillsville, 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

Hillsville Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$110,734

Hillsville, VA HOME PRICES

Value Range
> $1,036,000 0.5
$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

Very Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
70.9246454939646 82.2714681440443

Number Of Homes And Apartments:
1,333

Hillsville 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
51.05% 2.42% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$641 / per month

Homeownership Rate

Homeownership
Owners 51.26
Renters 48.74
Vacant 18.67

Housing Market Details

 

Age of Homes

AGE OF Hillsville HOMES
2000 or Newer 4.8
1970 - 1999 59.7
1940 - 1969 31.7
1939 or Older 3.7

Types of Homes

TYPE OF Hillsville HOMES
Single-Family 65.5
Townhomes 1.2
Small Apt. Buildings 14.8
Apt. Complexes 14.8
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Hillsville HOMES
No Bedroom 2.38
1 Bedroom 21.17
2 Bedrooms 23.98
3 Bedrooms 37.58
4 Bedrooms 13.18
5 or more bedrooms 1.71

Popular Communities Near Hillsville, VA

Zip Codes in Hillsville, VA