Patrick County, Virginia Housing Market Prices
Patrick 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 59% below the Virginia median Cheaper than 80% of counties in Virginia$105,192
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Median rent 55% below the Virginia median$716
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Patrick County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $105,192 | $256,082 | $248,835 |
| Price Trend (Annual %) | 21.7% | 3.5% | 7.5% |
| Median Gross Rent | $716 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Patrick County is about 59% lower than in Virginia. Rent is about 55% lower 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 Patrick County, up about 21.7% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Patrick County rose about 34.8% between 2015 and 2024, from $531 to $716. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Patrick County.
Buying the median-priced home in Patrick County costs roughly 12.2 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 Patrick County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Patrick County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $105,192 | $256,082 | $248,835 |
| Median Household Income | $53,300 | $93,527 | $80,455 |
| Price-to-Income Ratio | 2.0 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Patrick County fell about 22.0%, while median household income rose about 39.9% 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 | Patrick County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.7% | 61.5% | 58.5% |
| Rental Rate | 17.9% | 29.8% | 31.2% |
| Vacancy Rate | 22.4% | 8.7% | 10.2% |
| Median Tenure (years) | 21.0 | 15.0 | 15.0 |
| Median Year Moved In | 2005 | 2011 | 2011 |
Patrick County has a homeownership rate of 59.7%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 22.4%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Patrick County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1979 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 6.0 | 5.5 |
The typical housing unit in Patrick County was built around 1979. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 21.0 years on average.
Patrick County, VA Housing Compared With Nearby Counties
Patrick County, VA is the smallest of the 4 counties compared here, 17,512 residents against a local median of 45,181. Where Patrick County, VA breaks from the counties next to it is median home price, sitting 52% above the local median of $69,062 at $105,192.
The counties themselves spread $105,142 on median home price, so Patrick County, VA sits at one end of an already wide local range rather than apart from it. Patrick County, VA has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Patrick County, VA | 17,512 | $105,192 #2/4 | $716 #4/4 | 76.9% #3/4 |
| Stokes County, NC | 45,181 | $164,358 | $774 | 79.2% |
| Henry County, VA | 49,976 | $69,062 | $727 | 75.2% |
| Carroll County, VA | 29,157 | $59,216 | $737 | 77.1% |
Frequently Asked Questions
Common questions about the housing market in Patrick County, Virginia.
What is the median home price in Patrick County, Virginia?
The median home price in Patrick County, Virginia is $105,192, lower than the Virginia average of $256,082.
What is the average home price in Patrick County, Virginia?
The typical home price in Patrick County, Virginia, reported as the median sale price, is $105,192. 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 Patrick County, Virginia?
The median gross rent in Patrick County, Virginia is $716 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Patrick County in 2020?
In 2020, the median gross rent in Patrick County, Virginia was $613 per month.
What is the price-to-rent ratio in Patrick County, Virginia?
The price-to-rent ratio in Patrick County, Virginia is about 12.2, meaning it would take roughly 12.2 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 Patrick County.
Are home prices or rent rising faster in Patrick County, Virginia?
Both home prices and rent are rising in Patrick County, up about 21.7% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Patrick County, Virginia?
59.7% of households in Patrick County, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Patrick County, Virginia?
The housing vacancy rate in Patrick County, Virginia is 22.4%, higher than the Virginia average of 8.7%.
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