New Market, VA—22844
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Market, VA
New Market, VA lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $323,000 | -0.7% |
| Single Family | $324,000 | -1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $236,000 | -0.8% |
3 Bed | $348,000 | -0.3% |
4 Bed | $409,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Market, VA
As of July '25, Rentcast reports the average rent in New Market, VA is $1,470, with a year-over-year rent change of -3.3%. Per bedroom, the median rent as of July '25 in New Market, VA is 2-bedrooms: $1,120, 3-bedrooms: $1,700. The most common rental property sizes in New Market, VA are 2-bedroom and 1-bedroom, accounting for 41.5% and 35.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,470 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,120 |
| 3 Bed Rent | $1,900 | $1,700 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Market, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in New Market, VA is 69. This is a increase of 62.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $331,000 | -3.0% |
Listing Count | 38 | 124.0% |
| Listings as % of Homes | 0.9% | 124.0% |
Days on Market | 69 | 62.0% |
Demographics — New Market, VA
As of the latest ACS Survey released in 2023, New Market, VA has a population of 4,670, which has decreased by -3.7% over the past 5 years. New Market, VA is a less popular place for families, as children make up 10.9% of the population. The area has a poorly educated workforce, with 18.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,670 | -3.7% |
% Under 18 | 10.9% | -30.6% |
% Seniors | 31.9% | 33.5% |
% WFH | 10.7% | 245.2% |
% w/ College Degree | 18.8% | -17.5% |
As of the latest ACS Survey released in 2023, New Market, VA is a predominantly white area, with 91.6% of the population identifying as white. The white population has grown by 4.2% in the last 5 years. The second most common race or ethnicity in New Market, VA is hispanic, making up 3.9% of the population. Foreign-born residents account for 1.7% of the population in New Market, VA, and this percentage has decreased by 73.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.6% | 4.2% |
% Black | 3.1% | 181.8% |
% Hispanic | 3.9% | -61.4% |
% Asian | 0.2% | -33.3% |
% Foreign Born | 1.7% | -73.0% |
Mortgage and Risk — New Market, VA
According to HUD data as of 2023, there were 89 mortgage originations in New Market, VA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in New Market, VA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 89 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 2.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — New Market, VA
New Market, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 63 |
Total Units Section 8 | 63 |
% Rentals under Section 8 | 9.4% |
% Occupied Section 8 | 93.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | $40 | $1,050 | $1,090 |
| 3 Bedroom | -$440 | $1,900 | $1,460 |
| 4 Bedroom | N/A | N/A | $1,840 |
Affordability — New Market, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $323,000 |
| Median Household Income | $63,100 |