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 8,021 people, 3,654 houses or apartments, and a median cost of homes of $215,380, house prices in Vinton are solidly below the national average.
Single-family detached homes are the single most common housing type in Vinton, accounting for 62.40% of the town's housing units. Other types of housing that are prevalent in Vinton include large apartment complexes or high rise apartments ( 17.06%), duplexes, homes converted to apartments or other small apartment buildings ( 11.55%), and a few row houses and other attached homes ( 7.89%).
The most prevalent building size and type in Vinton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.24% owning and 44.76% 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. Vinton's housing was primarily built during this period, from the '40s through the '60s. A full 41.05% of the town's housing hails from this era. Other housing ages represented in Vinton include homes built between 1970-1999 ( 37.43%) and housing constructed before 1939 ( 13.29%). There's also some housing in Vinton built between 2000 and later ( 8.24%).
Vinton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Vinton during the period has been just 4.62%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Vinton's appreciation rate, at 13.68%, has been at or slightly above the national average. In the latest quarter, Vinton's appreciation rate has been 6.03%, which annualizes to a rate of 26.40%.
Importantly, this makes Vinton one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Vinton's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Vinton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Vinton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Vinton real estate investment or home purchase decisions.
Average for Nation
Low for VA