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 | Pittsylvania County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,750 | $257,048 | $242,182 |
| Price Trend (Annual %) | 10.7% | 4.1% | 8.2% |
| Median Gross Rent | $855 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pittsylvania County is about 41% lower than in Virginia. Rent is about 43% 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 Pittsylvania County, up about 10.7% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Pittsylvania County rose about 32.9% between 2015 and 2023, from $644 to $855. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Pittsylvania County.
Buying the median-priced home in Pittsylvania County costs roughly 14.8 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 Pittsylvania County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Pittsylvania County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,750 | $257,048 | $242,182 |
| Median Household Income | $54,320 | $91,409 | $78,145 |
| Price-to-Income Ratio | 2.8 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pittsylvania County fell about 8.1%, while median household income rose about 36.6% 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 | Pittsylvania County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.8% | 61.1% | 58.2% |
| Rental Rate | 17.8% | 29.9% | 31.3% |
| Vacancy Rate | 16.4% | 9.0% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Pittsylvania County has a homeownership rate of 65.8%, higher than the Virginia average of 61.1%. Its housing vacancy rate is 16.4%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Pittsylvania County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1976 | 1981 | 1978 |
| Median Number of Rooms | 5.4 | 6.0 | 5.5 |
The typical housing unit in Pittsylvania County was built around 1976. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pittsylvania County, Virginia.
What is the median home price in Pittsylvania County, Virginia?
The median home price in Pittsylvania County, Virginia is $151,750, lower than the Virginia average of $257,048.
What is the average home price in Pittsylvania 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 Pittsylvania County, Virginia?
The median gross rent in Pittsylvania County, Virginia is $855 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Pittsylvania County in 2020?
In 2020, the median gross rent in Pittsylvania County, Virginia was $730 per month.
What is the price-to-rent ratio in Pittsylvania County, Virginia?
The price-to-rent ratio in Pittsylvania County, Virginia is about 14.8, meaning it would take roughly 14.8 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 Pittsylvania County.
Are home prices or rent rising faster in Pittsylvania County, Virginia?
Both home prices and rent are rising in Pittsylvania County, up about 10.7% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pittsylvania County, Virginia?
65.8% of households in Pittsylvania County, Virginia own their home, higher than the Virginia average of 61.1%.
What is the vacancy rate in Pittsylvania County, Virginia?
The housing vacancy rate in Pittsylvania County, Virginia is 16.4%, higher than the Virginia average of 9.0%.