Mineral, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mineral Neighborhoods Since 2000




Mineral, 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

Mineral Housing Market Information

With 483 people, 184 houses or apartments, and a median cost of homes of $205,970, Mineral real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mineral, accounting for 91.20% of the town's housing units. Other types of housing that are prevalent in Mineral include mobile homes or trailers ( 8.80%).

The most prevalent building size and type in Mineral are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.96% owning and 38.04% renting.

There is a lot of housing in Mineral 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 Mineral built between 1940-1969 ( 31.02%). A lesser amount of the housing stock also hails from before 1939 ( 19.44%). There's also some housing in Mineral built between 2000 and later ( 11.11%).

Vacant housing appears to be an issue in Mineral. Fully 14.81% of the housing stock is classified as vacant. Left unchecked, vacant Mineral homes and apartments can be a drag on the real estate market, holding Mineral 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.

Mineral Home Appreciation Rates

Homes have actually lost value in Mineral over the last then years, as home values have seen a decline of 21.74% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Mineral home appreciation rates at -1.60%, which equates to an annual appreciation rate of -6.23%.

Over the last year, Mineral appreciation rates have trailed the rest of the nation. In the last twelve months, Mineral's appreciation rate has been -1.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mineral were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

Relative to Virginia, our data show that Mineral's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$205,970

Mineral, VA HOME PRICES

Value Range
> $1,034,000 4.9
$775,001 - $1,034,000 5.0
$517,001 - $775,000 8.2
$414,001 - $517,000 3.1
$310,001 - $414,000 8.7
$206,001 - $310,000 17.4
$104,001 - $206,000 35.7
$52,001 - $104,000 5.6
$0 - $52,000 11.4

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
30.8156568615962 41.8282548476454

Number Of Homes And Apartments:
184

Mineral 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
51.76% 2.45% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,243 / per month

Homeownership Rate

Homeownership
Owners 61.96
Renters 38.04
Vacant 14.81

Housing Market Details

 

Age of Homes

AGE OF Mineral HOMES
2000 or Newer 11.1
1970 - 1999 38.4
1940 - 1969 31.0
1939 or Older 19.4

Types of Homes

TYPE OF Mineral HOMES
Single-Family 91.2
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 8.8
Other 0.0

Home Size

SIZE OF Mineral HOMES
No Bedroom 0.00
1 Bedroom 2.78
2 Bedrooms 25.46
3 Bedrooms 48.15
4 Bedrooms 15.28
5 or more bedrooms 8.33

Popular Neighborhoods in Mineral

Zip Codes in Mineral, VA