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 | Rappahannock County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $791,666 | $257,048 | $242,182 |
| Price Trend (Annual %) | -1.3% | 4.1% | 8.2% |
| Median Gross Rent | $1,384 | $1,514 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rappahannock County is about 208% higher than in Virginia. Rent is about 9% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Rappahannock County: home prices fell about 1.3% a year while rent rose about 4.3% a year. That is an unusual pattern worth watching.
Median rent in Rappahannock County rose about 33.6% between 2015 and 2023, from $1,036 to $1,384. Over the same span, rent in Virginia rose about 35.7%.
Affordability
On average, housing unit costs 8.1 yearly household incomes in Rappahannock County.
Buying the median-priced home in Rappahannock County costs roughly 47.7 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 Rappahannock County. The price-to-rent ratio in Virginia is about 14.2.
| Metric | Rappahannock County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $791,666 | $257,048 | $242,182 |
| Median Household Income | $97,836 | $91,409 | $78,145 |
| Price-to-Income Ratio | 8.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rappahannock County fell about 60.4%, while median household income rose about 67.2% 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 | Rappahannock County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.9% | 61.1% | 58.2% |
| Rental Rate | 16.5% | 29.9% | 31.3% |
| Vacancy Rate | 25.6% | 9.0% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Rappahannock County has a homeownership rate of 57.9%, lower than the Virginia average of 61.1%. Its housing vacancy rate is 25.6%, compared with 9.0% in Virginia.
Housing Stock
| Metric | Rappahannock County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.53 people | 2.54 people |
| Median Structure Built Year | 1982 | 1981 | 1978 |
| Median Number of Rooms | 6.6 | 6.0 | 5.5 |
The typical housing unit in Rappahannock County was built around 1982. On average, 2.6 people live in a home with about 6.6 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rappahannock County, Virginia.
What is the median home price in Rappahannock County, Virginia?
The median home price in Rappahannock County, Virginia is $791,667, higher than the Virginia average of $257,048.
What is the average home price in Rappahannock 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 Rappahannock County, Virginia?
The median gross rent in Rappahannock County, Virginia is $1,384 per month, lower than the Virginia average of $1,514.
What was the median gross rent in Rappahannock County in 2020?
In 2020, the median gross rent in Rappahannock County, Virginia was $1,107 per month.
What is the price-to-rent ratio in Rappahannock County, Virginia?
The price-to-rent ratio in Rappahannock County, Virginia is about 47.7, meaning it would take roughly 47.7 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 Rappahannock County.
Are home prices or rent rising faster in Rappahannock County, Virginia?
Home prices and rent are moving in opposite directions in Rappahannock County: home prices fell about 1.3% a year while rent rose about 4.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Rappahannock County, Virginia?
57.9% of households in Rappahannock County, Virginia own their home, lower than the Virginia average of 61.1%.
What is the vacancy rate in Rappahannock County, Virginia?
The housing vacancy rate in Rappahannock County, Virginia is 25.6%, higher than the Virginia average of 9.0%.