Prince Edward County, Virginia Housing Market Prices
Prince Edward 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 58% below the Virginia median Cheaper than 80% of counties in Virginia$106,617
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Median rent 41% below the Virginia median$931
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Prince Edward County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $106,617 | $256,082 | $248,835 |
| Price Trend (Annual %) | -7.7% | 3.5% | 7.5% |
| Median Gross Rent | $931 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Prince Edward County is about 58% lower than in Virginia. Rent is about 41% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Prince Edward County: home prices fell about 7.7% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
Median rent in Prince Edward County rose about 24.5% between 2015 and 2024, from $748 to $931. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Prince Edward County.
Buying the median-priced home in Prince Edward County costs roughly 9.5 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 Prince Edward County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Prince Edward County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $106,617 | $256,082 | $248,835 |
| Median Household Income | $55,516 | $93,527 | $80,455 |
| Price-to-Income Ratio | 1.9 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Prince Edward County fell about 31.3%, while median household income rose about 42.9% 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 | Prince Edward County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.1% | 61.5% | 58.5% |
| Rental Rate | 34.8% | 29.8% | 31.2% |
| Vacancy Rate | 17.0% | 8.7% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Prince Edward County has a homeownership rate of 48.1%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 17.0%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Prince Edward County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1980 | 1982 | 1978 |
| Median Number of Rooms | 5.5 | 6.0 | 5.5 |
The typical housing unit in Prince Edward County was built around 1980. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Prince Edward County, Virginia.
What is the median home price in Prince Edward County, Virginia?
The median home price in Prince Edward County, Virginia is $106,617, lower than the Virginia average of $256,082.
What is the average home price in Prince Edward County, Virginia?
The typical home price in Prince Edward County, Virginia, reported as the median sale price, is $106,617. 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 Prince Edward County, Virginia?
The median gross rent in Prince Edward County, Virginia is $931 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Prince Edward County in 2020?
In 2020, the median gross rent in Prince Edward County, Virginia was $714 per month.
What is the price-to-rent ratio in Prince Edward County, Virginia?
The price-to-rent ratio in Prince Edward County, Virginia is about 9.5, meaning it would take roughly 9.5 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 Prince Edward County.
Are home prices or rent rising faster in Prince Edward County, Virginia?
Home prices and rent are moving in opposite directions in Prince Edward County: home prices fell about 7.7% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Prince Edward County, Virginia?
48.1% of households in Prince Edward County, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Prince Edward County, Virginia?
The housing vacancy rate in Prince Edward County, Virginia is 17.0%, higher than the Virginia average of 8.7%.
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