Ridgeway, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ridgeway, VA Real Estate Data


Ridgeway Housing Market Information

With 708 people, 343 houses or apartments, and a median cost of homes of $80,903, house prices in Ridgeway are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Ridgeway, accounting for 66.67% of the town's housing units. Other types of housing that are prevalent in Ridgeway include large apartment complexes or high rise apartments ( 14.55%), mobile homes or trailers ( 11.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.88%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ridgeway. Owner-occupied housing accounts for 65.60% of Ridgeway's homes, and 58.99% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Ridgeway 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 Ridgeway built between 1940-1969 ( 24.34%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.52%). There's also some housing in Ridgeway built before 1939 ( 5.03%).

Ridgeway Home Appreciation Rates

Ridgeway's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ridgeway during the period has been just -1.43%, which is lower than 80% of US communities.

Over the last year, Ridgeway appreciation rates have trailed the rest of the nation. In the last twelve months, Ridgeway's appreciation rate has been 0.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ridgeway were at 1.96%, which equates to an annual appreciation rate of 8.06%.

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

Average Home Values

 

Median Home Value:
$80,903

Ridgeway, VA HOME PRICES

Value Range
> $937,000 0.0
$703,001 - $937,000 0.0
$469,001 - $703,000 0.0
$375,001 - $469,000 0.1
$281,001 - $375,000 1.0
$187,001 - $281,000 6.9
$94,001 - $187,000 32.1
$47,001 - $94,000 43.3
$0 - $47,000 16.7

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
90.8239152075892 96.1218836565097

Number Of Homes And Apartments:
343

Rent & Ownership

 

Average Market Rent:
$639 / per month

Homeownership Rate

Homeownership
Owners 65.60
Renters 34.40
Vacant 9.26

Housing Market Details

 

Age of Homes

AGE OF Ridgeway HOMES
2000 or Newer 9.5
1970 - 1999 61.1
1940 - 1969 24.3
1939 or Older 5.0

Types of Homes

TYPE OF Ridgeway HOMES
Single-Family 66.7
Townhomes 0.3
Small Apt. Buildings 6.9
Apt. Complexes 14.6
Mobile Homes 11.6
Other 0.0

Home Size

SIZE OF Ridgeway HOMES
No Bedroom 0.00
1 Bedroom 12.96
2 Bedrooms 23.54
3 Bedrooms 47.35
4 Bedrooms 11.64
5 or more bedrooms 4.50

Ridgeway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
10.25% 0.58% 1 1
* 10 is highest

Popular Neighborhoods in Ridgeway

Zip Codes in Ridgeway, VA