New Kent County, Virginia Housing Market Prices
New Kent 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 76% above the Virginia median More expensive than 89% of counties in Virginia$450,000
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Median rent 9% above the Virginia median More expensive than 91% of counties in Virginia$1,720
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | New Kent County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $256,082 | $248,835 |
| Price Trend (Annual %) | 8.2% | 3.5% | 7.5% |
| Median Gross Rent | $1,720 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 8.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Kent County is about 76% higher than in Virginia. Rent is about 9% higher 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 New Kent County, up about 8.2% and 8.9% a year respectively. Rent is changing faster.
Median rent in New Kent County rose about 95.0% between 2015 and 2024, from $882 to $1,720. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in New Kent County.
Buying the median-priced home in New Kent County costs roughly 21.8 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 New Kent County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | New Kent County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $256,082 | $248,835 |
| Median Household Income | $123,257 | $93,527 | $80,455 |
| Price-to-Income Ratio | 3.7 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New Kent County rose about 52.6%, while median household income rose about 60.3% 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 | New Kent County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 87.6% | 61.5% | 58.5% |
| Rental Rate | 7.0% | 29.8% | 31.2% |
| Vacancy Rate | 5.4% | 8.7% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
New Kent County has a homeownership rate of 87.6%, higher than the Virginia average of 61.5%. Its housing vacancy rate is 5.4%, compared with 8.7% in Virginia.
Housing Stock
| Metric | New Kent County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1994 | 1982 | 1978 |
| Median Number of Rooms | 7.1 | 6.0 | 5.5 |
The typical housing unit in New Kent County was built around 1994. On average, 2.6 people live in a home with about 7.1 rooms, staying for about 16.0 years on average.
New Kent County, VA Housing Compared With Nearby Counties
How New Kent County, VA compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| New Kent County, VA | 25,099 | $450,000 #1/2 | $1,720 #1/2 | 92.6% #1/2 |
| James City County, VA | 81,013 | $408,474 | $1,552 | 76.7% |
Frequently Asked Questions
Common questions about the housing market in New Kent County, Virginia.
What is the median home price in New Kent County, Virginia?
The median home price in New Kent County, Virginia is $450,000, higher than the Virginia average of $256,082.
What is the average home price in New Kent County, Virginia?
The typical home price in New Kent County, Virginia, reported as the median sale price, is $450,000. 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 New Kent County, Virginia?
The median gross rent in New Kent County, Virginia is $1,720 per month, higher than the Virginia average of $1,579.
What was the median gross rent in New Kent County in 2020?
In 2020, the median gross rent in New Kent County, Virginia was $1,066 per month.
What is the price-to-rent ratio in New Kent County, Virginia?
The price-to-rent ratio in New Kent County, Virginia is about 21.8, meaning it would take roughly 21.8 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 New Kent County.
Are home prices or rent rising faster in New Kent County, Virginia?
Both home prices and rent are rising in New Kent County, up about 8.2% and 8.9% a year respectively. Rent is changing faster.
What is the homeownership rate in New Kent County, Virginia?
87.6% of households in New Kent County, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in New Kent County, Virginia?
The housing vacancy rate in New Kent County, Virginia is 5.4%, lower than the Virginia average of 8.7%.
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