Honaker, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Honaker, 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

Honaker Housing Market Information

With 1,392 people, 570 houses or apartments, and a median cost of homes of $82,125, house prices in Honaker are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Honaker, accounting for 69.29% of the town's housing units. Other types of housing that are prevalent in Honaker include mobile homes or trailers ( 27.38%), large apartment complexes or high rise apartments ( 1.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Honaker. Owner-occupied housing accounts for 73.03% of Honaker's homes, and 58.25% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Honaker 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 Honaker built between 1940-1969 ( 23.00%). A lesser amount of the housing stock also hails from before 1939 ( 16.79%). There's also some housing in Honaker built between 2000 and later ( 5.60%).

Vacant housing appears to be an issue in Honaker. Fully 13.77% of the housing stock is classified as vacant. Left unchecked, vacant Honaker homes and apartments can be a drag on the real estate market, holding Honaker 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.

Honaker Home Appreciation Rates

Honaker's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Honaker during the period has been just -1.18%, which is lower than 70% of US communities.

Over the last year, Honaker appreciation rates have trailed the rest of the nation. In the last twelve months, Honaker's appreciation rate has been 0.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Honaker were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

Relative to Virginia, our data show that Honaker's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$82,125

Honaker, VA HOME PRICES

Value Range
> $1,026,000 0.0
$769,001 - $1,026,000 0.0
$513,001 - $769,000 1.0
$410,001 - $513,000 0.0
$308,001 - $410,000 2.2
$205,001 - $308,000 6.4
$102,001 - $205,000 28.1
$51,001 - $102,000 38.0
$0 - $51,000 24.3

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
89.1128559709364 95.8448753462604

Number Of Homes And Apartments:
570

Honaker 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
44.83% 2.17% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$875 / per month

Homeownership Rate

Homeownership
Owners 73.03
Renters 26.97
Vacant 13.77

Housing Market Details

 

Age of Homes

AGE OF Honaker HOMES
2000 or Newer 5.6
1970 - 1999 54.6
1940 - 1969 23.0
1939 or Older 16.8

Types of Homes

TYPE OF Honaker HOMES
Single-Family 69.3
Townhomes 0.0
Small Apt. Buildings 1.5
Apt. Complexes 1.8
Mobile Homes 27.4
Other 0.0

Home Size

SIZE OF Honaker HOMES
No Bedroom 0.00
1 Bedroom 5.75
2 Bedrooms 34.19
3 Bedrooms 52.34
4 Bedrooms 5.90
5 or more bedrooms 1.82

Popular Neighborhoods in Honaker

Zip Codes in Honaker, VA