The housing market in Lake Monticello, VA is thriving. The median value of homes in the area stands at $277,300, which is far below the US median house value of $338,100. However, that hasn’t stopped the area from experiencing strong appreciation over the last year. The 1 year appreciation rate is 14.98%, more than twice the national 1 year house appreciation rate of 8.27%. This makes Lake Monticello a desirable destination for home buyers and investors looking for an appreciating market with lower entry costs than other areas of the country.
The median home cost in Lake Monticello is $277,300. Home appreciation the last 10 years has been 68.6%. Home Appreciation in Lake Monticello is up 14.9%.
Average Age of Homes
- The median age of Lake Monticello real estate is 21 years old
The Rental Market in Lake Monticello
- Renters make up 13.9% of the Lake Monticello population
- 1.2% of houses and apartments in Lake Monticello, 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.