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 | Campbell County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,639 | $257,048 | $242,182 |
| Price Trend (Annual %) | 283.5% | 4.1% | 8.2% |
| Median Gross Rent | $853 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 2.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Campbell County is about 78% lower than in Virginia. Rent is about 44% 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 Campbell County, up about 283.5% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Campbell County rose about 17.7% between 2015 and 2023, from $725 to $853. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Campbell County.
Buying the median-priced home in Campbell County costs roughly 5.5 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 Campbell County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Campbell County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,639 | $257,048 | $242,182 |
| Median Household Income | $62,096 | $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 Campbell County fell about 58.0%, while median household income rose about 43.5% 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 | Campbell County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.8% | 61.1% | 58.2% |
| Rental Rate | 21.3% | 29.9% | 31.3% |
| Vacancy Rate | 12.9% | 9.0% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Campbell County has a homeownership rate of 65.8%, higher than the Virginia average of 61.1%. Its housing vacancy rate is 12.9%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Campbell County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1982 | 1981 | 1978 |
| Median Number of Rooms | 5.8 | 6.0 | 5.5 |
The typical housing unit in Campbell County was built around 1982. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Campbell County, Virginia.
What is the median home price in Campbell County, Virginia?
The median home price in Campbell County, Virginia is $56,639, lower than the Virginia average of $257,048.
What is the average home price in Campbell 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 Campbell County, Virginia?
The median gross rent in Campbell County, Virginia is $853 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Campbell County in 2020?
In 2020, the median gross rent in Campbell County, Virginia was $730 per month.
What is the price-to-rent ratio in Campbell County, Virginia?
The price-to-rent ratio in Campbell County, Virginia is about 5.5, meaning it would take roughly 5.5 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 Campbell County.
Are home prices or rent rising faster in Campbell County, Virginia?
Both home prices and rent are rising in Campbell County, up about 283.5% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Campbell County, Virginia?
65.8% of households in Campbell County, Virginia own their home, higher than the Virginia average of 61.1%.
What is the vacancy rate in Campbell County, Virginia?
The housing vacancy rate in Campbell County, Virginia is 12.9%, higher than the Virginia average of 9.0%.