Powhatan, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Powhatan, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Powhatan Housing Market Information

With 25,773 people, 2,597 houses or apartments, and a median cost of homes of $327,345, 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 94.85% of the town's housing units. Other types of housing that are prevalent in Powhatan include mobile homes or trailers ( 3.28%), row houses and other attached homes ( 1.25%).

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 89.72% of Powhatan's homes, and 81.48% 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 ( 28.04%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.29%). There's also some housing in Powhatan built before 1939 ( 4.30%).

Powhatan Home Appreciation Rates

Powhatan's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Powhatan during the period has been just 0.25%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Powhatan's appreciation rate, at 3.02%, has been at or slightly above the national average. In the latest quarter, Powhatan's appreciation rate has been 0.02%, which annualizes to a rate of 0.06%.

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

Average Home Values

 

Median Home Value:
$327,345

Powhatan, VA HOME PRICES

Value Range
> $1,170,000 1.3
$877,001 - $1,170,000 1.2
$585,001 - $877,000 6.2
$468,001 - $585,000 9.2
$351,001 - $468,000 19.0
$234,001 - $351,000 37.7
$117,001 - $234,000 21.7
$59,001 - $117,000 2.1
$0 - $59,000 1.7

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
16.8817518248175 19.8347107438017

Number Of Homes And Apartments:
2,597

Powhatan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
67.91% 2.69%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,354 / per month

Homeownership Rate

Homeownership
Owners 89.72
Renters 10.28
Vacant 5.46

Housing Market Details

 

Age of Homes

AGE OF Powhatan HOMES
2000 or Newer 28.0
1970 - 1999 60.4
1940 - 1969 7.3
1939 or Older 4.3

Types of Homes

TYPE OF Powhatan HOMES
Single-Family 94.8
Townhomes 1.3
Small Apt. Buildings 0.6
Apt. Complexes 0.0
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Powhatan HOMES
No Bedroom 0.15
1 Bedroom 1.17
2 Bedrooms 9.45
3 Bedrooms 52.63
4 Bedrooms 28.84
5 or more bedrooms 7.76