Charlottesville city, Virginia Housing Market Prices
Charlottesville city 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 78% above the Virginia median More expensive than 89% of counties in Virginia$454,652
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Median rent 2% below the Virginia median More expensive than 80% of counties in Virginia$1,540
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Charlottesville city | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,652 | $256,082 | $248,835 |
| Price Trend (Annual %) | 7.3% | 3.5% | 7.5% |
| Median Gross Rent | $1,540 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Charlottesville city is about 78% higher than in Virginia. Rent is about 2% 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 Charlottesville city, up about 7.3% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Charlottesville city rose about 54.5% between 2015 and 2024, from $997 to $1,540. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 6.1 yearly household incomes in Charlottesville city.
Buying the median-priced home in Charlottesville city costs roughly 24.6 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 Charlottesville city. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Charlottesville city | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,652 | $256,082 | $248,835 |
| Median Household Income | $74,882 | $93,527 | $80,455 |
| Price-to-Income Ratio | 6.1 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Charlottesville city rose about 139.2%, while median household income rose about 88.1% 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 | Charlottesville city | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.6% | 61.5% | 58.5% |
| Rental Rate | 51.1% | 29.8% | 31.2% |
| Vacancy Rate | 8.3% | 8.7% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Charlottesville city has a homeownership rate of 40.6%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 8.3%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Charlottesville city | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1982 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 6.0 | 5.5 |
The typical housing unit in Charlottesville city was built around 1982. On average, 2.1 people live in a home with about 5.3 rooms, staying for about 12.0 years on average.
Charlottesville city, VA Housing Compared With Nearby Counties
How Charlottesville city, VA compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Charlottesville city, VA | 45,435 | $454,652 #1/3 | $1,540 #2/3 | 44.2% #3/3 |
| Albemarle County, VA | 114,898 | $379,048 | $1,691 | 65.9% |
| Fluvanna County, VA | 28,092 | $411,111 | $1,204 | 88.7% |
Frequently Asked Questions
Common questions about the housing market in Charlottesville city, Virginia.
What is the median home price in Charlottesville city, Virginia?
The median home price in Charlottesville city, Virginia is $454,652, higher than the Virginia average of $256,082.
What is the average home price in Charlottesville city, Virginia?
The typical home price in Charlottesville city, Virginia, reported as the median sale price, is $454,652. 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 Charlottesville city, Virginia?
The median gross rent in Charlottesville city, Virginia is $1,540 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Charlottesville city in 2020?
In 2020, the median gross rent in Charlottesville city, Virginia was $1,187 per month.
What is the price-to-rent ratio in Charlottesville city, Virginia?
The price-to-rent ratio in Charlottesville city, Virginia is about 24.6, meaning it would take roughly 24.6 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 Charlottesville city.
Are home prices or rent rising faster in Charlottesville city, Virginia?
Both home prices and rent are rising in Charlottesville city, up about 7.3% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Charlottesville city, Virginia?
40.6% of households in Charlottesville city, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Charlottesville city, Virginia?
The housing vacancy rate in Charlottesville city, Virginia is 8.3%, lower than the Virginia average of 8.7%.
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