Blacksburg, Virginia Housing Market Prices
Blacksburg Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 50% above the Virginia median$383,446
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Median rent 13% below the Virginia median$1,372
Housing Market Overview
| Metric | Blacksburg | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $383,446 | $256,082 | $248,835 |
| Price Trend (Annual %) | 8.1% | 3.5% | 7.5% |
| Median Gross Rent | $1,372 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Blacksburg is about 50% higher than in Virginia. Rent is about 13% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Blacksburg, up about 8.1% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Blacksburg rose about 44.5% between 2015 and 2024, from $950 to $1,372. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 8.2 yearly household incomes in Blacksburg.
Buying the median-priced home in Blacksburg costs roughly 23.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Blacksburg. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Blacksburg | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $383,446 | $256,082 | $248,835 |
| Median Household Income | $46,999 | $93,527 | $80,455 |
| Price-to-Income Ratio | 8.2 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Blacksburg rose about 43.4%, while median household income rose about 77.0% between 2009 and 2025 — 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 | Blacksburg | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 27.7% | 61.5% | 58.5% |
| Rental Rate | 54.3% | 29.8% | 31.2% |
| Vacancy Rate | 18.0% | 8.7% | 10.2% |
| Median Tenure (years) | 8.0 | 15.0 | 15.0 |
| Median Year Moved In | 2018 | 2011 | 2011 |
Blacksburg has a homeownership rate of 27.7%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 18.0%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Blacksburg | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1987 | 1982 | 1978 |
| Median Number of Rooms | 4.7 | 6.0 | 5.5 |
The typical housing unit in Blacksburg was built around 1987. On average, 2.5 people live in a home with about 4.7 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Blacksburg, Virginia.
What is the median home price in Blacksburg, Virginia?
The median home price in Blacksburg, Virginia is $383,446, higher than the Virginia average of $256,082.
What is the average home price in Blacksburg, Virginia?
The typical home price in Blacksburg, Virginia, reported as the median sale price, is $383,446. 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 Blacksburg, Virginia?
The median gross rent in Blacksburg, Virginia is $1,372 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Blacksburg in 2020?
In 2020, the median gross rent in Blacksburg, Virginia was $1,179 per month.
What is the price-to-rent ratio in Blacksburg, Virginia?
The price-to-rent ratio in Blacksburg, Virginia is about 23.3, meaning it would take roughly 23.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Blacksburg.
Are home prices or rent rising faster in Blacksburg, Virginia?
Both home prices and rent are rising in Blacksburg, up about 8.1% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Blacksburg, Virginia?
27.7% of households in Blacksburg, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Blacksburg, Virginia?
The housing vacancy rate in Blacksburg, Virginia is 18.0%, higher than the Virginia average of 8.7%.
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