Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Appomattox County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $86,388 | $257,048 | $242,182 |
| Price Trend (Annual %) | 55.1% | 4.1% | 8.2% |
| Median Gross Rent | $882 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Appomattox County is about 66% lower than in Virginia. Rent is about 42% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Appomattox County, up about 55.1% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Appomattox County rose about 27.1% between 2015 and 2023, from $695 to $882. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Appomattox County.
Buying the median-priced home in Appomattox County costs roughly 8.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Appomattox County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Appomattox County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $86,388 | $257,048 | $242,182 |
| Median Household Income | $63,081 | $91,409 | $78,145 |
| Price-to-Income Ratio | 1.4 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Appomattox County fell about 41.0%, while median household income rose about 34.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Appomattox County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.0% | 61.1% | 58.2% |
| Rental Rate | 19.9% | 29.9% | 31.3% |
| Vacancy Rate | 11.1% | 9.0% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Appomattox County has a homeownership rate of 69.0%, higher than the Virginia average of 61.1%. Its housing vacancy rate is 11.1%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Appomattox County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1977 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Appomattox County was built around 1977. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Appomattox County, Virginia.
What is the median home price in Appomattox County, Virginia?
The median home price in Appomattox County, Virginia is $86,388, lower than the Virginia average of $257,048.
What is the average home price in Appomattox County, Virginia?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Appomattox County, Virginia?
The median gross rent in Appomattox County, Virginia is $882 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Appomattox County in 2020?
In 2020, the median gross rent in Appomattox County, Virginia was $685 per month.
What is the price-to-rent ratio in Appomattox County, Virginia?
The price-to-rent ratio in Appomattox County, Virginia is about 8.2, meaning it would take roughly 8.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Appomattox County.
Are home prices or rent rising faster in Appomattox County, Virginia?
Both home prices and rent are rising in Appomattox County, up about 55.1% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Appomattox County, Virginia?
69.0% of households in Appomattox County, Virginia own their home, higher than the Virginia average of 61.1%.
What is the vacancy rate in Appomattox County, Virginia?
The housing vacancy rate in Appomattox County, Virginia is 11.1%, higher than the Virginia average of 9.0%.