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 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

Powhatan Housing Market Information

With 25,259 people, 2,562 houses or apartments, and a median cost of homes of $278,740, 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 93.99% of the town's housing units. Other types of housing that are prevalent in Powhatan include mobile homes or trailers ( 3.44%), duplexes, homes converted to apartments or other small apartment buildings ( 1.05%).

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 87.30% of Powhatan's homes, and 79.99% 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 ( 28.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.85%). There's also some housing in Powhatan built before 1939 ( 3.46%).

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 -1.07%, which is lower than 70% of US communities.

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 6.24%, which is higher than appreciation rates in 76.07% 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 1.35%, which equates to an annual appreciation rate of 5.51%.

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

Average Home Values

 

Median Home Value:
$278,740

Powhatan, VA HOME PRICES

Value Range
> $1,109,000 1.3
$832,001 - $1,109,000 1.4
$554,001 - $832,000 6.4
$443,001 - $554,000 8.7
$333,001 - $443,000 18.8
$222,001 - $333,000 36.4
$111,001 - $222,000 22.0
$56,001 - $111,000 2.9
$0 - $56,000 2.1

High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
18.62768076878 22.7146814404432

Number Of Homes And Apartments:
2,562

Powhatan 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
52.92% 2.49% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,287 / per month

Homeownership Rate

Homeownership
Owners 87.30
Renters 12.70
Vacant 5.28

Housing Market Details

 

Age of Homes

AGE OF Powhatan HOMES
2000 or Newer 28.2
1970 - 1999 59.5
1940 - 1969 8.9
1939 or Older 3.5

Types of Homes

TYPE OF Powhatan HOMES
Single-Family 94.0
Townhomes 0.9
Small Apt. Buildings 1.1
Apt. Complexes 0.6
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Powhatan HOMES
No Bedroom 0.00
1 Bedroom 1.10
2 Bedrooms 12.27
3 Bedrooms 50.62
4 Bedrooms 29.37
5 or more bedrooms 6.64