Henry County, Virginia Housing Market Prices
Henry 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 73% below the Virginia median Cheaper than 86% of counties in Virginia$69,062
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Median rent 54% below the Virginia median Cheaper than 95% of counties in Virginia$727
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Henry County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,062 | $256,082 | $248,835 |
| Price Trend (Annual %) | -5.9% | 3.5% | 7.5% |
| Median Gross Rent | $727 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Henry County is about 73% lower than in Virginia. Rent is about 54% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Henry County: home prices fell about 5.9% a year while rent rose about 3.1% a year. That is an unusual pattern worth watching.
Median rent in Henry County rose about 24.6% between 2015 and 2024, from $584 to $727. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Henry County.
Buying the median-priced home in Henry County costs roughly 7.9 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 Henry County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Henry County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $69,062 | $256,082 | $248,835 |
| Median Household Income | $50,747 | $93,527 | $80,455 |
| Price-to-Income Ratio | 1.4 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Henry County fell about 44.2%, while median household income rose about 35.6% 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 | Henry County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.3% | 61.5% | 58.5% |
| Rental Rate | 20.6% | 29.8% | 31.2% |
| Vacancy Rate | 17.2% | 8.7% | 10.2% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Henry County has a homeownership rate of 62.3%, higher than the Virginia average of 61.5%. Its housing vacancy rate is 17.2%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Henry County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1971 | 1982 | 1978 |
| Median Number of Rooms | 5.5 | 6.0 | 5.5 |
The typical housing unit in Henry County was built around 1971. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Henry County, VA Housing Compared With Nearby Counties
Henry County, VA is typical in size for this group, 49,976 residents against a local median of 50,161, so the measures below are close to a like for like comparison. The measure that sets Henry County, VA apart most is median home price: $69,062, 49% below the local median of $134,775.
The counties themselves spread $232,834 on median home price, so Henry County, VA sits at one end of an already wide local range rather than apart from it. Henry County, VA has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Henry County, VA | 49,976 | $69,062 #4/5 | $727 #4/5 | 75.2% #4/5 |
| Rockingham County, NC | 92,115 | $56,011 | $810 | 72.1% |
| Franklin County, VA | 55,141 | $288,845 | $829 | 78.5% |
| Patrick County, VA | 17,512 | $105,192 | $716 | 76.9% |
| Stokes County, NC | 45,181 | $164,358 | $774 | 79.2% |
Frequently Asked Questions
Common questions about the housing market in Henry County, Virginia.
What is the median home price in Henry County, Virginia?
The median home price in Henry County, Virginia is $69,062, lower than the Virginia average of $256,082.
What is the average home price in Henry County, Virginia?
The typical home price in Henry County, Virginia, reported as the median sale price, is $69,062. 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 Henry County, Virginia?
The median gross rent in Henry County, Virginia is $727 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Henry County in 2020?
In 2020, the median gross rent in Henry County, Virginia was $599 per month.
What is the price-to-rent ratio in Henry County, Virginia?
The price-to-rent ratio in Henry County, Virginia is about 7.9, meaning it would take roughly 7.9 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 Henry County.
Are home prices or rent rising faster in Henry County, Virginia?
Home prices and rent are moving in opposite directions in Henry County: home prices fell about 5.9% a year while rent rose about 3.1% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Henry County, Virginia?
62.3% of households in Henry County, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in Henry County, Virginia?
The housing vacancy rate in Henry County, Virginia is 17.2%, higher than the Virginia average of 8.7%.
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