Hillsville, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hillsville Neighborhoods Since 2000




Hillsville, VA Real Estate Data


Hillsville Housing Market Information

With 2,677 people, 1,232 houses or apartments, and a median cost of homes of $110,515, 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 58.32% of the town's housing units. Other types of housing that are prevalent in Hillsville include large apartment complexes or high rise apartments ( 20.31%), duplexes, homes converted to apartments or other small apartment buildings ( 13.24%), and a few mobile homes or trailers ( 6.68%).

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 48.11% owning and 51.89% 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 ( 27.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.50%). There's also some housing in Hillsville built before 1939 ( 3.80%).

Vacant housing appears to be an issue in Hillsville. Fully 19.27% 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

Real estate appreciation rates in Hillsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.56% during the period.

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 3.30%, 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 1.96%, which equates to an annual appreciation rate of 8.06%.

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:
$110,515

Hillsville, VA HOME PRICES

Value Range
> $1,027,000 0.0
$770,001 - $1,027,000 1.5
$514,001 - $770,000 0.5
$411,001 - $514,000 1.0
$308,001 - $411,000 0.9
$206,001 - $308,000 12.1
$103,001 - $206,000 38.8
$52,001 - $103,000 34.9
$0 - $52,000 10.4

Very Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
72.0911167066815 81.4404432132964

Number Of Homes And Apartments:
1,232

Rent & Ownership

 

Average Market Rent:
$744 / per month

Homeownership Rate

Homeownership
Owners 48.11
Renters 51.89
Vacant 19.27

Housing Market Details

 

Age of Homes

AGE OF Hillsville HOMES
2000 or Newer 5.5
1970 - 1999 62.7
1940 - 1969 28.0
1939 or Older 3.8

Types of Homes

TYPE OF Hillsville HOMES
Single-Family 58.3
Townhomes 1.4
Small Apt. Buildings 13.2
Apt. Complexes 20.3
Mobile Homes 6.7
Other 0.0

Home Size

SIZE OF Hillsville HOMES
No Bedroom 1.90
1 Bedroom 21.89
2 Bedrooms 22.41
3 Bedrooms 39.32
4 Bedrooms 13.24
5 or more bedrooms 1.25

Hillsville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
52.72% 2.52% 5 6
* 10 is highest

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Zip Codes in Hillsville, VA