Woodford, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Woodford, VA Real Estate Data


Woodford Housing Market Information

With a population of 6,160, 1,237 total housing units (homes and apartments), and a median house value of $201,885, Woodford real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Woodford, accounting for 79.15% of the town's housing units. Other types of housing that are prevalent in Woodford include mobile homes or trailers ( 15.85%), duplexes, homes converted to apartments or other small apartment buildings ( 4.16%).

The most prevalent building size and type in Woodford are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.16% owning and 37.84% renting.

There is a lot of housing in Woodford 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 Woodford built between 2000 and later ( 22.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.47%). There's also some housing in Woodford built before 1939 ( 8.10%).

Vacant housing appears to be an issue in Woodford. Fully 11.01% of the housing stock is classified as vacant. Left unchecked, vacant Woodford homes and apartments can be a drag on the real estate market, holding Woodford 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.

Woodford Home Appreciation Rates

Homes have actually lost value in Woodford over the last then years, as home values have seen a decline of 24.45% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Woodford home appreciation rates at 2.03%, which equates to an annual appreciation rate of 8.38%.

Over the last year, Woodford appreciation rates have trailed the rest of the nation. In the last twelve months, Woodford's appreciation rate has been 3.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Woodford were at 2.03%, which equates to an annual appreciation rate of 8.38%.

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

Average Home Values

 

Median Home Value:
$201,885

Woodford, VA HOME PRICES

Value Range
> $1,103,000 3.0
$827,001 - $1,103,000 1.8
$551,001 - $827,000 4.6
$441,001 - $551,000 3.0
$331,001 - $441,000 6.2
$221,001 - $331,000 24.5
$110,001 - $221,000 40.2
$55,001 - $110,000 5.9
$0 - $55,000 10.8

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
32.6403935117409 46.814404432133

Number Of Homes And Apartments:
1,237

Rent & Ownership

 

Average Market Rent:
$891 / per month

Homeownership Rate

Homeownership
Owners 62.16
Renters 37.84
Vacant 11.01

Housing Market Details

 

Age of Homes

AGE OF Woodford HOMES
2000 or Newer 22.4
1970 - 1999 50.0
1940 - 1969 19.5
1939 or Older 8.1

Types of Homes

TYPE OF Woodford HOMES
Single-Family 79.2
Townhomes 0.6
Small Apt. Buildings 4.2
Apt. Complexes 0.2
Mobile Homes 15.8
Other 0.0

Home Size

SIZE OF Woodford HOMES
No Bedroom 0.00
1 Bedroom 6.27
2 Bedrooms 21.50
3 Bedrooms 54.71
4 Bedrooms 14.20
5 or more bedrooms 3.32

Woodford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
39.71% 1.99% 2 5
* 10 is highest