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
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF South Hill HOMES|
|2000 or Newer||9.1|
|1970 - 1999||45.2|
|1940 - 1969||38.1|
|1939 or Older||7.6|
|TYPE OF South Hill HOMES|
|Small Apt. Buildings||8.2|
|SIZE OF South Hill HOMES|
|5 or more bedrooms||6.02|