Midlothian, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midlothian, VA Real Estate Data


Midlothian Housing Market Information

With a population of 90,390, 1,945 total housing units (homes and apartments), and a median house value of $298,406, Midlothian real estate prices are well above average cost compared to national prices.

Midlothian is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Midlothian than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Midlothian. Owner-occupied housing accounts for 80.38% of Midlothian's homes, and 67.47% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Midlothian 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 Midlothian built between 2000 and later ( 26.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.55%).

Midlothian Home Appreciation Rates

Midlothian's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Midlothian during the period has been just -0.88%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Midlothian's appreciation rate, at 3.83%, has been at or slightly above the national average. In the latest quarter, Midlothian's appreciation rate has been 0.65%, which annualizes to a rate of 2.61%.

Relative to Virginia, our data show that Midlothian's latest annual appreciation rate is higher than 50% 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 Midlothian differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midlothian - 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 Midlothian real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$298,406

Midlothian, VA HOME PRICES

Value Range
> $1,118,000 0.5
$838,001 - $1,118,000 1.7
$559,001 - $838,000 7.4
$447,001 - $559,000 9.3
$335,001 - $447,000 17.3
$223,001 - $335,000 35.5
$112,001 - $223,000 25.6
$56,001 - $112,000 0.9
$0 - $56,000 1.5

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
16.184225946326 19.6675900277008

Number Of Homes And Apartments:
1,945

Rent & Ownership

 

Average Market Rent:
$1,600 / per month

Homeownership Rate

Homeownership
Owners 80.38
Renters 19.62
Vacant 5.27

Housing Market Details

 

Age of Homes

AGE OF Midlothian HOMES
2000 or Newer 26.6
1970 - 1999 69.5
1940 - 1969 3.6
1939 or Older 0.4

Types of Homes

TYPE OF Midlothian HOMES
Single-Family 80.8
Townhomes 5.1
Small Apt. Buildings 1.5
Apt. Complexes 12.5
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Midlothian HOMES
No Bedroom 0.59
1 Bedroom 4.65
2 Bedrooms 10.80
3 Bedrooms 29.80
4 Bedrooms 37.67
5 or more bedrooms 16.50

Midlothian Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
55.26% 2.58% 6 7
* 10 is highest