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 | Page County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $308,336 | $257,048 | $242,182 |
| Price Trend (Annual %) | 11.6% | 4.1% | 8.2% |
| Median Gross Rent | $851 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Page County is about 20% higher than in Virginia. Rent is about 44% 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 Page County, up about 11.6% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Page County rose about 19.7% between 2015 and 2023, from $711 to $851. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Page County.
Buying the median-priced home in Page County costs roughly 30.2 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 Page County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Page County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $308,336 | $257,048 | $242,182 |
| Median Household Income | $59,311 | $91,409 | $78,145 |
| Price-to-Income Ratio | 5.2 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Page County rose about 51.6%, while median household income rose about 40.6% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Page County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.3% | 61.1% | 58.2% |
| Rental Rate | 21.8% | 29.9% | 31.3% |
| Vacancy Rate | 19.9% | 9.0% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Page County has a homeownership rate of 58.3%, lower than the Virginia average of 61.1%. Its housing vacancy rate is 19.9%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Page County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1975 | 1981 | 1978 |
| Median Number of Rooms | 6.1 | 6.0 | 5.5 |
The typical housing unit in Page County was built around 1975. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Page County, Virginia.
What is the median home price in Page County, Virginia?
The median home price in Page County, Virginia is $308,336, higher than the Virginia average of $257,048.
What is the average home price in Page 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 Page County, Virginia?
The median gross rent in Page County, Virginia is $851 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Page County in 2020?
In 2020, the median gross rent in Page County, Virginia was $745 per month.
What is the price-to-rent ratio in Page County, Virginia?
The price-to-rent ratio in Page County, Virginia is about 30.2, meaning it would take roughly 30.2 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 Page County.
Are home prices or rent rising faster in Page County, Virginia?
Both home prices and rent are rising in Page County, up about 11.6% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Page County, Virginia?
58.3% of households in Page County, Virginia own their home, lower than the Virginia average of 61.1%.
What is the vacancy rate in Page County, Virginia?
The housing vacancy rate in Page County, Virginia is 19.9%, higher than the Virginia average of 9.0%.