Rocky Mount, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Rocky Mount Neighborhoods Since 2000




Rocky Mount, 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

Rocky Mount Housing Market Information

With a population of 4,799, 2,392 total housing units (homes and apartments), and a median house value of $116,305, house prices in Rocky Mount are solidly below the national average.

Single-family detached homes are the single most common housing type in Rocky Mount, accounting for 65.26% of the town's housing units. Other types of housing that are prevalent in Rocky Mount include large apartment complexes or high rise apartments ( 19.17%), duplexes, homes converted to apartments or other small apartment buildings ( 10.77%), and a few mobile homes or trailers ( 2.90%).

People in Rocky Mount primarily live in small (one, two or no bedroom) single-family detached homes. Rocky Mount has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Rocky Mount's housing was primarily built during this period, from the '40s through the '60s. A full 47.87% of the town's housing hails from this era. Other housing ages represented in Rocky Mount include homes built between 1970-1999 ( 29.16%) and housing constructed before 1939 ( 11.70%). There's also some housing in Rocky Mount built between 2000 and later ( 11.27%).

Rocky Mount Home Appreciation Rates

Rocky Mount's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rocky Mount during the period has been just -1.67%, which is lower than 80% of US communities.

Appreciation rates are so strong in Rocky Mount that despite a nationwide downturn in the housing market, Rocky Mount real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rocky Mount appreciation rates continue to be some of the highest in America, at 8.82%, which is higher than appreciation rates in 90.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rocky Mount. Rocky Mount appreciation rates in the latest quarter were at 0.07%, which equates to an annual appreciation rate of 0.28%.

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

Average Home Values

 

Median Home Value:
$116,305

Rocky Mount, VA HOME PRICES

Value Range
> $1,057,000 0.0
$793,001 - $1,057,000 0.1
$528,001 - $793,000 0.8
$422,001 - $528,000 3.0
$317,001 - $422,000 5.4
$211,001 - $317,000 8.5
$105,001 - $211,000 41.5
$53,001 - $105,000 29.1
$0 - $53,000 11.6

Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
67.5846712762217 78.6703601108033

Number Of Homes And Apartments:
2,392

Rocky Mount 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
33.51% 1.69% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$835 / per month

Homeownership Rate

Homeownership
Owners 44.92
Renters 55.08
Vacant 7.36

Housing Market Details

 

Age of Homes

AGE OF Rocky Mount HOMES
2000 or Newer 11.3
1970 - 1999 29.2
1940 - 1969 47.9
1939 or Older 11.7

Types of Homes

TYPE OF Rocky Mount HOMES
Single-Family 65.3
Townhomes 1.9
Small Apt. Buildings 10.8
Apt. Complexes 19.2
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Rocky Mount HOMES
No Bedroom 2.25
1 Bedroom 14.56
2 Bedrooms 39.58
3 Bedrooms 33.00
4 Bedrooms 9.14
5 or more bedrooms 1.47

Popular Communities Near Rocky Mount, VA

Zip Codes in Rocky Mount, VA