Buchanan County, Virginia Housing Market Prices
Buchanan County 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 61% below the Virginia median Cheaper than 81% of counties in Virginia$99,903
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Median rent 53% below the Virginia median Cheaper than 89% of counties in Virginia$743
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $99,903 | $256,082 | $248,835 |
| Price Trend (Annual %) | 53.4% | 3.5% | 7.5% |
| Median Gross Rent | $743 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Buchanan County is about 61% lower than in Virginia. Rent is about 53% 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 Buchanan County, up about 53.4% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Buchanan County rose about 16.7% between 2015 and 2024, from $636 to $743. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Buchanan County.
Buying the median-priced home in Buchanan County costs roughly 11.2 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 Buchanan County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $99,903 | $256,082 | $248,835 |
| Median Household Income | $43,339 | $93,527 | $80,455 |
| Price-to-Income Ratio | 2.3 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Buchanan County rose about 305.1%, while median household income rose about 49.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.6% | 61.5% | 58.5% |
| Rental Rate | 12.4% | 29.8% | 31.2% |
| Vacancy Rate | 27.0% | 8.7% | 10.2% |
| Median Tenure (years) | 23.0 | 15.0 | 15.0 |
| Median Year Moved In | 2003 | 2011 | 2011 |
Buchanan County has a homeownership rate of 60.6%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 27.0%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1978 | 1982 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Buchanan County was built around 1978. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 23.0 years on average.
Buchanan County, VA Housing Compared With Nearby Counties
Buchanan County, VA is typical in size for this group, 19,415 residents against a local median of 22,544, so the measures below are close to a like for like comparison. Nothing separates Buchanan County, VA sharply from the counties around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median rent, 14% above the local median at $743 against $653. Buchanan County, VA has the 2nd highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Buchanan County, VA | 19,415 | $99,903 #3/6 | $743 #2/6 | 83.1% #1/6 |
| Russell County, VA | 25,530 | $37,374 | $653 | 76.3% |
| Dickenson County, VA | 13,730 | $204,673 | $737 | 76.1% |
| McDowell County, WV | 17,943 | $95,227 | $642 | 77.3% |
| Pike County, KY | 56,725 | $29,344 | $858 | 75.3% |
| Mingo County, WV | 22,544 | $111,194 | $646 | 73.4% |
Frequently Asked Questions
Common questions about the housing market in Buchanan County, Virginia.
What is the median home price in Buchanan County, Virginia?
The median home price in Buchanan County, Virginia is $99,903, lower than the Virginia average of $256,082.
What is the average home price in Buchanan County, Virginia?
The typical home price in Buchanan County, Virginia, reported as the median sale price, is $99,903. 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 Buchanan County, Virginia?
The median gross rent in Buchanan County, Virginia is $743 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Buchanan County in 2020?
In 2020, the median gross rent in Buchanan County, Virginia was $608 per month.
What is the price-to-rent ratio in Buchanan County, Virginia?
The price-to-rent ratio in Buchanan County, Virginia is about 11.2, meaning it would take roughly 11.2 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 Buchanan County.
Are home prices or rent rising faster in Buchanan County, Virginia?
Both home prices and rent are rising in Buchanan County, up about 53.4% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Buchanan County, Virginia?
60.6% of households in Buchanan County, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Buchanan County, Virginia?
The housing vacancy rate in Buchanan County, Virginia is 27.0%, higher than the Virginia average of 8.7%.
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