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 | Dickenson County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,294 | $257,048 | $242,182 |
| Price Trend (Annual %) | 32.0% | 4.1% | 8.2% |
| Median Gross Rent | $732 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dickenson County is about 14% lower than in Virginia. Rent is about 52% 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 Dickenson County, up about 32.0% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Dickenson County rose about 39.0% between 2015 and 2023, from $527 to $732. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Dickenson County.
Buying the median-priced home in Dickenson County costs roughly 25.3 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 Dickenson County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Dickenson County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,294 | $257,048 | $242,182 |
| Median Household Income | $43,466 | $91,409 | $78,145 |
| Price-to-Income Ratio | 5.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dickenson County rose about 29.6%, while median household income rose about 57.2% 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 | Dickenson County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.0% | 61.1% | 58.2% |
| Rental Rate | 19.7% | 29.9% | 31.3% |
| Vacancy Rate | 22.2% | 9.0% | 10.6% |
| Median Tenure (years) | 22.0 | 15.0 | 15.0 |
| Median Year Moved In | 2004 | 2011 | 2011 |
Dickenson County has a homeownership rate of 58.0%, lower than the Virginia average of 61.1%. Its housing vacancy rate is 22.2%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Dickenson County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1982 | 1981 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Dickenson County was built around 1982. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dickenson County, Virginia.
What is the median home price in Dickenson County, Virginia?
The median home price in Dickenson County, Virginia is $222,294, lower than the Virginia average of $257,048.
What is the average home price in Dickenson 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 Dickenson County, Virginia?
The median gross rent in Dickenson County, Virginia is $732 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Dickenson County in 2020?
In 2020, the median gross rent in Dickenson County, Virginia was $579 per month.
What is the price-to-rent ratio in Dickenson County, Virginia?
The price-to-rent ratio in Dickenson County, Virginia is about 25.3, meaning it would take roughly 25.3 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 Dickenson County.
Are home prices or rent rising faster in Dickenson County, Virginia?
Both home prices and rent are rising in Dickenson County, up about 32.0% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dickenson County, Virginia?
58.0% of households in Dickenson County, Virginia own their home, lower than the Virginia average of 61.1%.
What is the vacancy rate in Dickenson County, Virginia?
The housing vacancy rate in Dickenson County, Virginia is 22.2%, higher than the Virginia average of 9.0%.