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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,281 people, 678 houses or apartments, and a median cost of homes of $283,953, Rustburg 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 Rustburg, accounting for 68.99% of the town's housing units. Other types of housing that are prevalent in Rustburg include mobile homes or trailers ( 31.01%).
Renters dominate Rustburg's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
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. Rustburg's housing was primarily built during this period, from the '40s through the '60s. A full 44.97% of the town's housing hails from this era. Other housing ages represented in Rustburg include homes built between 1970-1999 ( 32.62%) and housing constructed between 2000 and later ( 15.30%). There's also some housing in Rustburg built before 1939 ( 7.11%).
Real estate appreciation rates in Rustburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.95% during the period.
Appreciation rates are so strong in Rustburg that despite a nationwide downturn in the housing market, Rustburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rustburg appreciation rates continue to be some of the highest in America, at 8.38%, which is higher than appreciation rates in 88.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rustburg. Rustburg appreciation rates in the latest quarter were at -0.20%, which equates to an annual appreciation rate of -0.78%.
Relative to Virginia, our data show that Rustburg's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.
$283,953
for Virginia
for nation
678
$1,128 / per month