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 | Northampton County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $181,027 | $257,048 | $242,182 |
| Price Trend (Annual %) | 24.0% | 4.1% | 8.2% |
| Median Gross Rent | $779 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 1.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Northampton County is about 30% lower than in Virginia. Rent is about 49% 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 Northampton County, up about 24.0% and 1.0% a year respectively. Home prices are changing faster.
Median rent in Northampton County rose about 12.4% between 2015 and 2023, from $693 to $779. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Northampton County.
Buying the median-priced home in Northampton County costs roughly 19.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Northampton County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Northampton County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $181,027 | $257,048 | $242,182 |
| Median Household Income | $57,246 | $91,409 | $78,145 |
| Price-to-Income Ratio | 3.2 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Northampton County rose about 55.0%, while median household income rose about 56.7% 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 | Northampton County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.7% | 61.1% | 58.2% |
| Rental Rate | 24.9% | 29.9% | 31.3% |
| Vacancy Rate | 28.4% | 9.0% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Northampton County has a homeownership rate of 46.7%, lower than the Virginia average of 61.1%. Its housing vacancy rate is 28.4%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Northampton County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1977 | 1981 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Northampton County was built around 1977. On average, 2.2 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Northampton County, Virginia.
What is the median home price in Northampton County, Virginia?
The median home price in Northampton County, Virginia is $181,027, lower than the Virginia average of $257,048.
What is the average home price in Northampton 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 Northampton County, Virginia?
The median gross rent in Northampton County, Virginia is $779 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Northampton County in 2020?
In 2020, the median gross rent in Northampton County, Virginia was $708 per month.
What is the price-to-rent ratio in Northampton County, Virginia?
The price-to-rent ratio in Northampton County, Virginia is about 19.4, meaning it would take roughly 19.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Northampton County.
Are home prices or rent rising faster in Northampton County, Virginia?
Both home prices and rent are rising in Northampton County, up about 24.0% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Northampton County, Virginia?
46.7% of households in Northampton County, Virginia own their home, lower than the Virginia average of 61.1%.
What is the vacancy rate in Northampton County, Virginia?
The housing vacancy rate in Northampton County, Virginia is 28.4%, higher than the Virginia average of 9.0%.