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 | Bath County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,555 | $257,048 | $242,182 |
| Price Trend (Annual %) | 451.2% | 4.1% | 8.2% |
| Median Gross Rent | $825 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 8.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bath County is about 78% lower than in Virginia. Rent is about 45% 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 Bath County, up about 451.2% and 8.7% a year respectively. Home prices are changing faster.
Median rent in Bath County rose about 54.4% between 2015 and 2023, from $534 to $825. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Bath County.
Buying the median-priced home in Bath County costs roughly 5.6 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 Bath County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Bath County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,555 | $257,048 | $242,182 |
| Median Household Income | $63,956 | $91,409 | $78,145 |
| Price-to-Income Ratio | 0.9 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bath County fell about 69.1%, while median household income rose about 37.0% 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 | Bath County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.3% | 61.1% | 58.2% |
| Rental Rate | 13.1% | 29.9% | 31.3% |
| Vacancy Rate | 46.6% | 9.0% | 10.6% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Bath County has a homeownership rate of 40.3%, lower than the Virginia average of 61.1%. Its housing vacancy rate is 46.6%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Bath County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1974 | 1981 | 1978 |
| Median Number of Rooms | 5.2 | 6.0 | 5.5 |
The typical housing unit in Bath County was built around 1974. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bath County, Virginia.
What is the median home price in Bath County, Virginia?
The median home price in Bath County, Virginia is $55,555, lower than the Virginia average of $257,048.
What is the average home price in Bath 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 Bath County, Virginia?
The median gross rent in Bath County, Virginia is $825 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Bath County in 2020?
In 2020, the median gross rent in Bath County, Virginia was $656 per month.
What is the price-to-rent ratio in Bath County, Virginia?
The price-to-rent ratio in Bath County, Virginia is about 5.6, meaning it would take roughly 5.6 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 Bath County.
Are home prices or rent rising faster in Bath County, Virginia?
Both home prices and rent are rising in Bath County, up about 451.2% and 8.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bath County, Virginia?
40.3% of households in Bath County, Virginia own their home, lower than the Virginia average of 61.1%.
What is the vacancy rate in Bath County, Virginia?
The housing vacancy rate in Bath County, Virginia is 46.6%, higher than the Virginia average of 9.0%.