South Hill, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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South Hill, 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

South Hill Housing Market Information

With 4,527 people, 1,896 houses or apartments, and a median cost of homes of $123,547, house prices in South Hill are solidly below the national average.

Single-family detached homes are the single most common housing type in South Hill, accounting for 66.25% of the town's housing units. Other types of housing that are prevalent in South Hill include large apartment complexes or high rise apartments ( 11.87%), mobile homes or trailers ( 9.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.21%).

The most prevalent building size and type in South Hill are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.75% owning and 44.25% renting.

There is a lot of housing in South Hill 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 South Hill built between 1940-1969 ( 38.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.13%). There's also some housing in South Hill built before 1939 ( 7.58%).

Vacant housing appears to be an issue in South Hill. Fully 20.20% of the housing stock is classified as vacant. Left unchecked, vacant South Hill homes and apartments can be a drag on the real estate market, holding South Hill 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.

South Hill Home Appreciation Rates

Homes have actually lost value in South Hill over the last then years, as home values have seen a decline of 19.17% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows South Hill home appreciation rates at -1.60%, which equates to an annual appreciation rate of -6.23%.

NeighborhoodScout's data show that during the latest twelve months, South Hill's appreciation rate, at 4.41%, has been at or slightly above the national average. In the latest quarter, South Hill's appreciation rate has been -1.60%, which annualizes to a rate of -6.23%.

Notably, South Hill's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that South Hill's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$123,547

South Hill, VA HOME PRICES

Value Range
> $977,000 0.0
$732,001 - $977,000 0.0
$488,001 - $732,000 1.1
$391,001 - $488,000 2.8
$293,001 - $391,000 2.8
$195,001 - $293,000 7.6
$98,001 - $195,000 52.2
$49,001 - $98,000 17.7
$0 - $49,000 15.8

Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
63.4360717215516 75.6232686980609

Number Of Homes And Apartments:
1,896

South Hill 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
7.38% 0.41% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$933 / per month

Homeownership Rate

Homeownership
Owners 55.75
Renters 44.25
Vacant 20.20

Housing Market Details

 

Age of Homes

AGE OF South Hill HOMES
2000 or Newer 9.1
1970 - 1999 45.2
1940 - 1969 38.1
1939 or Older 7.6

Types of Homes

TYPE OF South Hill HOMES
Single-Family 66.2
Townhomes 4.6
Small Apt. Buildings 8.2
Apt. Complexes 11.9
Mobile Homes 9.0
Other 0.0

Home Size

SIZE OF South Hill HOMES
No Bedroom 0.00
1 Bedroom 5.05
2 Bedrooms 34.51
3 Bedrooms 47.01
4 Bedrooms 7.41
5 or more bedrooms 6.02

Popular Neighborhoods in South Hill

Zip Codes in South Hill, VA