Radford, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Radford Neighborhoods Since 2000




Radford, 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

Radford Housing Market Information

With 17,403 people, 5,477 houses or apartments, and a median cost of homes of $144,516, Radford real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Radford, accounting for 53.16% of the city's housing units. Other types of housing that are prevalent in Radford include large apartment complexes or high rise apartments ( 30.67%), duplexes, homes converted to apartments or other small apartment buildings ( 9.77%), and a few mobile homes or trailers ( 4.10%).

The most prevalent building size and type in Radford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 36.12% owning and 63.88% renting.

There is a lot of housing in Radford 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 Radford built between 1940-1969 ( 37.81%). A lesser amount of the housing stock also hails from before 1939 ( 11.45%). There's also some housing in Radford built between 2000 and later ( 8.05%).

Vacant housing appears to be an issue in Radford. Fully 15.83% of the housing stock is classified as vacant. Left unchecked, vacant Radford homes and apartments can be a drag on the real estate market, holding Radford 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.

Radford Home Appreciation Rates

Radford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Radford during the period has been just -1.32%, which is lower than 70% of US communities.

Over the last year, Radford appreciation rates have trailed the rest of the nation. In the last twelve months, Radford's appreciation rate has been -2.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Radford were at -1.54%, which equates to an annual appreciation rate of -6.02%.

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

Relative to Virginia, our data show that Radford's latest annual appreciation rate is lower than 90% 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 city. Individual neighborhoods within Radford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Radford - 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 Radford real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$144,516

Radford, VA HOME PRICES

Value Range
> $1,015,000 1.3
$761,001 - $1,015,000 0.9
$508,001 - $761,000 1.0
$406,001 - $508,000 0.8
$304,001 - $406,000 5.4
$203,001 - $304,000 21.9
$101,001 - $203,000 49.3
$51,001 - $101,000 9.1
$0 - $51,000 10.5

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
52.4610336341263 66.2049861495845

Number Of Homes And Apartments:
5,477

Radford 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
32.66% 1.65% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$846 / per month

Homeownership Rate

Homeownership
Owners 36.12
Renters 63.88
Vacant 15.83

Housing Market Details

 

Age of Homes

AGE OF Radford HOMES
2000 or Newer 8.1
1970 - 1999 42.7
1940 - 1969 37.8
1939 or Older 11.4

Types of Homes

TYPE OF Radford HOMES
Single-Family 53.2
Townhomes 2.3
Small Apt. Buildings 9.8
Apt. Complexes 30.7
Mobile Homes 4.1
Other 0.0

Home Size

SIZE OF Radford HOMES
No Bedroom 1.28
1 Bedroom 12.60
2 Bedrooms 32.73
3 Bedrooms 38.40
4 Bedrooms 11.00
5 or more bedrooms 3.98