Tazewell, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Tazewell Neighborhoods Since 2000




Tazewell, 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

Tazewell Housing Market Information

With a population of 4,421, 1,862 total housing units (homes and apartments), and a median house value of $130,662, house prices in Tazewell are solidly below the national average.

Single-family detached homes are the single most common housing type in Tazewell, accounting for 77.73% of the town's housing units. Other types of housing that are prevalent in Tazewell include large apartment complexes or high rise apartments ( 9.87%), mobile homes or trailers ( 5.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.51%).

The most prevalent building size and type in Tazewell are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.03% owning and 37.97% renting.

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. Tazewell's housing was primarily built during this period, from the '40s through the '60s. A full 43.66% of the town's housing hails from this era. Other housing ages represented in Tazewell include homes built between 1970-1999 ( 35.57%) and housing constructed before 1939 ( 16.54%). There's also some housing in Tazewell built between 2000 and later ( 4.23%).

Vacant housing appears to be an issue in Tazewell. Fully 12.50% of the housing stock is classified as vacant. Left unchecked, vacant Tazewell homes and apartments can be a drag on the real estate market, holding Tazewell 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.

Tazewell Home Appreciation Rates

Real estate appreciation rates in Tazewell's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.62% during the period.

Over the last year, Tazewell appreciation rates have trailed the rest of the nation. In the last twelve months, Tazewell's appreciation rate has been 1.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tazewell were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

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

Average Home Values

 

Median Home Value:
$130,662

Tazewell, VA HOME PRICES

Value Range
> $1,025,000 0.2
$769,001 - $1,025,000 0.0
$512,001 - $769,000 1.3
$410,001 - $512,000 1.4
$308,001 - $410,000 5.1
$205,001 - $308,000 13.6
$103,001 - $205,000 37.2
$51,001 - $103,000 30.6
$0 - $51,000 10.6

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
59.4808390952772 73.1301939058172

Number Of Homes And Apartments:
1,862

Tazewell 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
51.09% 2.42% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$740 / per month

Homeownership Rate

Homeownership
Owners 62.03
Renters 37.97
Vacant 12.50

Housing Market Details

 

Age of Homes

AGE OF Tazewell HOMES
2000 or Newer 4.2
1970 - 1999 35.6
1940 - 1969 43.7
1939 or Older 16.5

Types of Homes

TYPE OF Tazewell HOMES
Single-Family 77.7
Townhomes 2.4
Small Apt. Buildings 4.5
Apt. Complexes 9.9
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF Tazewell HOMES
No Bedroom 0.00
1 Bedroom 12.69
2 Bedrooms 17.34
3 Bedrooms 47.70
4 Bedrooms 19.97
5 or more bedrooms 2.30