Wise County, Virginia Housing Market Prices
Wise 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.
-
Median home price 75% below the Virginia median Cheaper than 88% of counties in Virginia$64,936
-
Median rent 50% below the Virginia median Cheaper than 85% of counties in Virginia$789
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wise County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $64,936 | $256,082 | $248,835 |
| Price Trend (Annual %) | -3.2% | 3.5% | 7.5% |
| Median Gross Rent | $789 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wise County is about 75% lower than in Virginia. Rent is about 50% 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 Wise County: home prices fell about 3.2% a year while rent rose about 2.9% a year. That is an unusual pattern worth watching.
Median rent in Wise County rose about 31.9% between 2015 and 2024, from $598 to $789. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Wise County.
Buying the median-priced home in Wise County costs roughly 6.9 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 Wise County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Wise County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $64,936 | $256,082 | $248,835 |
| Median Household Income | $53,154 | $93,527 | $80,455 |
| Price-to-Income Ratio | 1.2 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wise County fell about 50.6%, while median household income rose about 55.8% 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 | Wise County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.0% | 61.5% | 58.5% |
| Rental Rate | 21.6% | 29.8% | 31.2% |
| Vacancy Rate | 16.4% | 8.7% | 10.2% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Wise County has a homeownership rate of 62.0%, higher than the Virginia average of 61.5%. Its housing vacancy rate is 16.4%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Wise County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1980 | 1982 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Wise County was built around 1980. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 20.0 years on average.
Wise County, VA Housing Compared With Nearby Counties
Wise County, VA is the largest of the 5 counties compared here, 35,431 residents against a local median of 17,319. Where Wise County, VA breaks from the counties next to it is median home price, sitting 47% below the local median of $121,776 at $64,936.
The counties themselves spread $181,861 on median home price, so Wise County, VA sits at one end of an already wide local range rather than apart from it. Wise County, VA has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wise County, VA | 35,431 | $64,936 #4/5 | $789 #1/5 | 74.2% #3/5 |
| Scott County, VA | 21,488 | $155,318 | $698 | 77.0% |
| Letcher County, KY | 20,808 | $22,812 | $669 | 74.1% |
| Dickenson County, VA | 13,730 | $204,673 | $737 | 76.1% |
| Knott County, KY | 13,830 | $88,234 | $756 | 72.7% |
Frequently Asked Questions
Common questions about the housing market in Wise County, Virginia.
What is the median home price in Wise County, Virginia?
The median home price in Wise County, Virginia is $64,936, lower than the Virginia average of $256,082.
What is the average home price in Wise County, Virginia?
The typical home price in Wise County, Virginia, reported as the median sale price, is $64,936. 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 Wise County, Virginia?
The median gross rent in Wise County, Virginia is $789 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Wise County in 2020?
In 2020, the median gross rent in Wise County, Virginia was $637 per month.
What is the price-to-rent ratio in Wise County, Virginia?
The price-to-rent ratio in Wise County, Virginia is about 6.9, meaning it would take roughly 6.9 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 Wise County.
Are home prices or rent rising faster in Wise County, Virginia?
Home prices and rent are moving in opposite directions in Wise County: home prices fell about 3.2% a year while rent rose about 2.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Wise County, Virginia?
62.0% of households in Wise County, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in Wise County, Virginia?
The housing vacancy rate in Wise County, Virginia is 16.4%, higher than the Virginia average of 8.7%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →