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 11,177, 4,371 total housing units (homes and apartments), and a median house value of $135,537, house prices in Madison Heights are solidly below the national average.
Single-family detached homes are the single most common housing type in Madison Heights, accounting for 76.05% of the town's housing units. Other types of housing that are prevalent in Madison Heights include duplexes, homes converted to apartments or other small apartment buildings ( 10.37%), large apartment complexes or high rise apartments ( 5.97%), and a few mobile homes or trailers ( 5.65%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Madison Heights. Owner-occupied housing accounts for 68.02% of Madison Heights's homes, and 60.60% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Madison Heights 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 Madison Heights built between 1940-1969 ( 41.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.55%). There's also some housing in Madison Heights built before 1939 ( 6.41%).
Real estate appreciation rates in Madison Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.
Over the last year, Madison Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Madison Heights's appreciation rate has been -0.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Madison Heights were at 0.50%, which equates to an annual appreciation rate of 2.02%.
Relative to Virginia, our data show that Madison Heights's latest annual appreciation rate is lower than 70% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Madison Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Madison Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Madison Heights real estate investment or home purchase decisions.
|$763,001 - $1,018,000||0.2|
|$509,001 - $763,000||1.0|
|$407,001 - $509,000||1.2|
|$305,001 - $407,000||1.4|
|$203,001 - $305,000||10.2|
|$102,001 - $203,000||52.8|
|$51,001 - $102,000||23.0|
|$0 - $51,000||9.9|
|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 Madison Heights HOMES|
|2000 or Newer||9.5|
|1970 - 1999||42.6|
|1940 - 1969||41.4|
|1939 or Older||6.4|
|TYPE OF Madison Heights HOMES|
|Small Apt. Buildings||10.4|
|SIZE OF Madison Heights HOMES|
|5 or more bedrooms||2.55|