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 531 people, 270 houses or apartments, and a median cost of homes of $487,890, Scottsville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Scottsville, accounting for 62.01% of the town's housing units. Other types of housing that are prevalent in Scottsville include duplexes, homes converted to apartments or other small apartment buildings ( 15.64%), large apartment complexes or high rise apartments ( 14.53%), and a few mobile homes or trailers ( 6.98%).
People in Scottsville primarily live in small (one, two or no bedroom) single-family detached homes. Scottsville has a mixture of owner-occupied and renter-occupied housing.
The housing in Scottsville was primarily built before 1939 ( 45.25%), making the housing stock in Scottsville some of the oldest overall in America, although there is a range of ages of homes in Scottsville. The next most important housing age is between 1940-1969 ( 33.24%), followed by between 1970-1999 ( 18.72%). There's also some housing in Scottsville built between 2000 and later ( 2.79%).
Vacant housing appears to be an issue in Scottsville. Fully 24.58% of the housing stock is classified as vacant. Left unchecked, vacant Scottsville homes and apartments can be a drag on the real estate market, holding Scottsville 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.
Appreciation rates for homes in Scottsville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.87%, which ranks in the top 40% nationwide. This equates to an annual average Scottsville house appreciation rate of 7.17%.
NeighborhoodScout's data show that during the latest twelve months, Scottsville's appreciation rate, at 9.48%, has been at or slightly above the national average. In the latest quarter, Scottsville's appreciation rate has been 3.84%, which annualizes to a rate of 16.28%.
Relative to Virginia, our data show that Scottsville's latest annual appreciation rate is higher than 60% of the other cities and towns in Virginia.
$487,890
for Virginia
for nation
270
$1,831 / per month