The housing market in Petersburg, VA is thriving. The median value of homes in Petersburg is $250,300, which is significantly lower than the US House Median of $338,100. However, when observing the 1 year appreciation rate for houses in this area, we find that it is 12.84%, much higher than the national average of 8.27%. This indicates that despite the lower median value, house prices are rising rapidly in Petersburg and providing significant investment opportunities for prospective buyers.
The median home cost in Petersburg is $250,300. Home appreciation the last 10 years has been 77.0%. Home Appreciation in Petersburg is up 18.6%.
Average Age of Homes
- The median age of Petersburg real estate is 48 years old
The Rental Market in Petersburg
- Renters make up 42.1% of the Petersburg population
- 4.3% of houses and apartments in Petersburg, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.