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 | King George County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,919 | $257,048 | $242,182 |
| Price Trend (Annual %) | -1.8% | 4.1% | 8.2% |
| Median Gross Rent | $1,425 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in King George County is about 84% lower than in Virginia. Rent is about 6% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in King George County: home prices fell about 1.8% a year while rent rose about 4.2% a year. That is an unusual pattern worth watching.
Median rent in King George County rose about 29.8% between 2015 and 2023, from $1,097 to $1,425. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in King George County.
Buying the median-priced home in King George County costs roughly 2.3 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 King George County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | King George County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,919 | $257,048 | $242,182 |
| Median Household Income | $109,709 | $91,409 | $78,145 |
| Price-to-Income Ratio | 0.4 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in King George County fell about 84.4%, while median household income rose about 49.4% 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 | King George County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.3% | 61.1% | 58.2% |
| Rental Rate | 22.4% | 29.9% | 31.3% |
| Vacancy Rate | 6.3% | 9.0% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
King George County has a homeownership rate of 71.3%, higher than the Virginia average of 61.1%. Its housing vacancy rate is 6.3%, compared with 9.0% in Virginia.
Housing Stock
| Metric | King George County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1992 | 1981 | 1978 |
| Median Number of Rooms | 6.6 | 6.0 | 5.5 |
The typical housing unit in King George County was built around 1992. On average, 2.8 people live in a home with about 6.6 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in King George County, Virginia.
What is the median home price in King George County, Virginia?
The median home price in King George County, Virginia is $39,919, lower than the Virginia average of $257,048.
What is the average home price in King George 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 King George County, Virginia?
The median gross rent in King George County, Virginia is $1,425 per month, lower than the Virginia average of $1,514.
What was the median gross rent in King George County in 2020?
In 2020, the median gross rent in King George County, Virginia was $1,240 per month.
What is the price-to-rent ratio in King George County, Virginia?
The price-to-rent ratio in King George County, Virginia is about 2.3, meaning it would take roughly 2.3 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 King George County.
Are home prices or rent rising faster in King George County, Virginia?
Home prices and rent are moving in opposite directions in King George County: home prices fell about 1.8% a year while rent rose about 4.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in King George County, Virginia?
71.3% of households in King George County, Virginia own their home, higher than the Virginia average of 61.1%.
What is the vacancy rate in King George County, Virginia?
The housing vacancy rate in King George County, Virginia is 6.3%, lower than the Virginia average of 9.0%.