Luray, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Luray Neighborhoods Since 2000




Luray, 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

Luray Housing Market Information

With 4,828 people, 1,908 houses or apartments, and a median cost of homes of $207,681, Luray real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Luray, accounting for 75.71% of the town's housing units. Other types of housing that are prevalent in Luray include duplexes, homes converted to apartments or other small apartment buildings ( 6.74%), row houses and other attached homes ( 6.69%), and a few large apartment complexes or high rise apartments ( 6.29%).

The most prevalent building size and type in Luray are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.67% owning and 46.33% renting.

There is a lot of housing in Luray 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 Luray built between 1940-1969 ( 29.23%). A lesser amount of the housing stock also hails from before 1939 ( 22.68%). There's also some housing in Luray built between 2000 and later ( 6.06%).

Vacant housing appears to be an issue in Luray. Fully 14.32% of the housing stock is classified as vacant. Left unchecked, vacant Luray homes and apartments can be a drag on the real estate market, holding Luray 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.

Luray Home Appreciation Rates

Luray's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Luray during the period has been just -1.90%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Luray's appreciation rate, at 3.23%, has been at or slightly above the national average. In the latest quarter, Luray's appreciation rate has been -1.60%, which annualizes to a rate of -6.23%.

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

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

Average Home Values

 

Median Home Value:
$207,681

Luray, VA HOME PRICES

Value Range
> $1,057,000 0.4
$793,001 - $1,057,000 0.0
$529,001 - $793,000 3.4
$423,001 - $529,000 2.9
$317,001 - $423,000 9.4
$211,001 - $317,000 28.6
$106,001 - $211,000 41.2
$53,001 - $106,000 8.9
$0 - $53,000 5.2

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
30.346888550334 41.2742382271468

Number Of Homes And Apartments:
1,908

Luray 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
55.53% 2.59% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$908 / per month

Homeownership Rate

Homeownership
Owners 53.67
Renters 46.33
Vacant 14.32

Housing Market Details

 

Age of Homes

AGE OF Luray HOMES
2000 or Newer 6.1
1970 - 1999 42.0
1940 - 1969 29.2
1939 or Older 22.7

Types of Homes

TYPE OF Luray HOMES
Single-Family 75.7
Townhomes 6.7
Small Apt. Buildings 6.7
Apt. Complexes 6.3
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF Luray HOMES
No Bedroom 0.00
1 Bedroom 5.57
2 Bedrooms 29.55
3 Bedrooms 52.85
4 Bedrooms 10.46
5 or more bedrooms 1.57