Rustburg, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Rustburg, 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

Rustburg Housing Market Information

With 1,432 people, 395 houses or apartments, and a median cost of homes of $160,796, 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 69.39% of the town's housing units. Other types of housing that are prevalent in Rustburg include mobile homes or trailers ( 21.67%), row houses and other attached homes ( 4.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.99%).

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

There is a lot of housing in Rustburg 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 Rustburg built between 1940-1969 ( 12.74%). A lesser amount of the housing stock also hails from before 1939 ( 9.89%). There's also some housing in Rustburg built between 2000 and later ( 5.51%).

Vacant housing appears to be an issue in Rustburg. Fully 24.90% of the housing stock is classified as vacant. Left unchecked, vacant Rustburg homes and apartments can be a drag on the real estate market, holding Rustburg 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.

Rustburg Home Appreciation Rates

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 -0.34% during the period.

Over the last year, Rustburg appreciation rates have trailed the rest of the nation. In the last twelve months, Rustburg's appreciation rate has been 2.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rustburg were at 0.50%, which equates to an annual appreciation rate of 2.02%.

Relative to Virginia, our data show that Rustburg's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$160,796

Rustburg, VA HOME PRICES

Value Range
> $1,053,000 0.6
$790,001 - $1,053,000 0.4
$527,001 - $790,000 0.7
$421,001 - $527,000 0.8
$316,001 - $421,000 7.9
$211,001 - $316,000 16.5
$105,001 - $211,000 49.1
$53,001 - $105,000 13.6
$0 - $53,000 10.5

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
45.3357553029415 62.0498614958449

Number Of Homes And Apartments:
395

Rustburg 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
42.73% 2.08% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$917 / per month

Homeownership Rate

Homeownership
Owners 56.57
Renters 43.43
Vacant 24.90

Housing Market Details

 

Age of Homes

AGE OF Rustburg HOMES
2000 or Newer 5.5
1970 - 1999 71.9
1940 - 1969 12.7
1939 or Older 9.9

Types of Homes

TYPE OF Rustburg HOMES
Single-Family 69.4
Townhomes 4.9
Small Apt. Buildings 4.0
Apt. Complexes 0.0
Mobile Homes 21.7
Other 0.0

Home Size

SIZE OF Rustburg HOMES
No Bedroom 0.00
1 Bedroom 3.99
2 Bedrooms 50.19
3 Bedrooms 33.46
4 Bedrooms 7.60
5 or more bedrooms 4.75

Popular Neighborhoods in Rustburg

Zip Codes in Rustburg, VA