Radford city, Virginia Housing Market Prices
Radford city 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 83% below the Virginia median Cheaper than 92% of counties in Virginia$44,000
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Median rent 35% below the Virginia median$1,033
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Radford city | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $44,000 | $256,082 | $248,835 |
| Price Trend (Annual %) | 16.2% | 3.5% | 7.5% |
| Median Gross Rent | $1,033 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Radford city is about 83% lower than in Virginia. Rent is about 35% 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 Radford city, up about 16.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Radford city rose about 46.5% between 2015 and 2024, from $705 to $1,033. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Radford city.
Buying the median-priced home in Radford city costs roughly 3.6 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 Radford city. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Radford city | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $44,000 | $256,082 | $248,835 |
| Median Household Income | $55,097 | $93,527 | $80,455 |
| Price-to-Income Ratio | 0.8 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Radford city fell about 64.0%, while median household income rose about 66.4% 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 | Radford city | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.3% | 61.5% | 58.5% |
| Rental Rate | 49.5% | 29.8% | 31.2% |
| Vacancy Rate | 14.2% | 8.7% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Radford city has a homeownership rate of 36.3%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 14.2%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Radford city | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1984 | 1982 | 1978 |
| Median Number of Rooms | 5.3 | 6.0 | 5.5 |
The typical housing unit in Radford city was built around 1984. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Radford city, VA Housing Compared With Nearby Counties
Radford city, VA is the smallest of the 4 counties compared here, 16,726 residents against a local median of 33,685. Where Radford city, VA breaks from the counties next to it is median home price, sitting 64% below the local median of $122,130 at $44,000.
Homeownership tells the same story from another angle: 42.3% against a local median of 73.4%, 42% below it. The one measure here that carries a verdict is homeownership, and at 42% below the local median it puts Radford city, VA at the weaker end of the local range. The counties themselves spread $299,266 on median home price, so Radford city, VA sits at one end of an already wide local range rather than apart from it. Radford city, VA has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Radford city, VA | 16,726 | $44,000 #4/4 | $1,033 #2/4 | 42.3% #4/4 |
| Pulaski County, VA | 33,685 | $122,130 | $813 | 73.4% |
| Montgomery County, VA | 99,089 | $358,482 | $1,239 | 55.3% |
| Carroll County, VA | 29,157 | $59,216 | $737 | 77.1% |
Frequently Asked Questions
Common questions about the housing market in Radford city, Virginia.
What is the median home price in Radford city, Virginia?
The median home price in Radford city, Virginia is $44,000, lower than the Virginia average of $256,082.
What is the average home price in Radford city, Virginia?
The typical home price in Radford city, Virginia, reported as the median sale price, is $44,000. 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 Radford city, Virginia?
The median gross rent in Radford city, Virginia is $1,033 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Radford city in 2020?
In 2020, the median gross rent in Radford city, Virginia was $839 per month.
What is the price-to-rent ratio in Radford city, Virginia?
The price-to-rent ratio in Radford city, Virginia is about 3.6, meaning it would take roughly 3.6 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 Radford city.
Are home prices or rent rising faster in Radford city, Virginia?
Both home prices and rent are rising in Radford city, up about 16.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Radford city, Virginia?
36.3% of households in Radford city, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Radford city, Virginia?
The housing vacancy rate in Radford city, Virginia is 14.2%, higher than the Virginia average of 8.7%.
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