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 about Scout's Real Estate Data
With 402 people, 246 houses or apartments, and a median cost of homes of $508,807, Powhatan real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Powhatan, accounting for 84.33% of the town's housing units. Other types of housing that are prevalent in Powhatan include row houses and other attached homes ( 11.19%), duplexes, homes converted to apartments or other small apartment buildings ( 4.48%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Powhatan. Owner-occupied housing accounts for 68.29% of Powhatan's homes, and 67.91% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Powhatan 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 Powhatan built between 2000 and later ( 36.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.90%). There's also some housing in Powhatan built before 1939 ( 4.48%).
Real estate appreciation rates in Powhatan's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.98% during the period.
Appreciation rates are so strong in Powhatan that despite a nationwide downturn in the housing market, Powhatan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Powhatan appreciation rates continue to be some of the highest in America, at 7.76%, which is higher than appreciation rates in 83.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Powhatan. Powhatan appreciation rates in the latest quarter were at 1.23%, which equates to an annual appreciation rate of 5.03%.
Relative to Virginia, our data show that Powhatan's latest annual appreciation rate is higher than 80% 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 Powhatan differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Powhatan - 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 Powhatan real estate investment or home purchase decisions.
$508,807
for Virginia
for nation
246
$2,058 / per month