Charlottesville, VA—22901
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Charlottesville, VA
As of Oct '25, the median home price in Charlottesville, VA is $513,000, with a year-over-year change of 2.0%. This indicates that home prices in Charlottesville, VA are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $513,000 | 2.0% |
| Single Family | $562,000 | 1.8% |
| Condos | $211,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $199,000 | 2.6% |
2 Bed | $276,000 | 2.6% |
3 Bed | $458,000 | 1.3% |
4 Bed | $701,000 | 2.8% |
| 5 Bed | $971,000 | 3.1% |
% of Housing Stock
Rental Trends — Charlottesville, VA
As of July '25, Rentcast reports the average rent in Charlottesville, VA is $1,990, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Charlottesville, VA is studios: $1,910, 1-bedrooms: $1,480, 2-bedrooms: $1,720, 3-bedrooms: $2,230, 4-bedrooms: $3,420. The most common rental property sizes in Charlottesville, VA are 2-bedroom and 1-bedroom, accounting for 44.6% and 22.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,990 |
| Studio Rent | $1,600 | $1,910 |
| 1 Bed Rent | $1,500 | $1,480 |
| 2 Bed Rent | $1,650 | $1,720 |
| 3 Bed Rent | $2,300 | $2,230 |
| 4 Bed Rent | $2,850 | $3,420 |
% of Rental Stock
Property Listings — Charlottesville, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Charlottesville, VA is 46. This is a increase of 52.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $624,000 | 0.0% |
Listing Count | 223 | 71.0% |
| Listings as % of Homes | 0.7% | 71.0% |
Days on Market | 46 | 52.0% |
Demographics — Charlottesville, VA
As of the latest ACS Survey released in 2023, Charlottesville, VA has a population of 36,900, which has increased by 5.2% over the past 5 years. Charlottesville, VA is a moderately popular place for families, as children make up 20.0% of the population. The area has a highly educated workforce, with 60.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,900 | 5.2% |
% Under 18 | 20.0% | -2.9% |
% Seniors | 22.7% | 24.0% |
% WFH | 20.2% | 248.3% |
% w/ College Degree | 60.6% | 9.6% |
As of the latest ACS Survey released in 2023, Charlottesville, VA is a predominantly white area, with 69.8% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Charlottesville, VA is black, making up 12.4% of the population. Foreign-born residents account for 12.2% of the population in Charlottesville, VA, and this percentage has increased by 1.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.8% | -4.0% |
% Black | 12.4% | -11.4% |
% Hispanic | 8.9% | 34.8% |
% Asian | 4.8% | 2.1% |
% Foreign Born | 12.2% | 1.7% |
Mortgage and Risk — Charlottesville, VA
According to HUD data as of 2023, there were 528 mortgage originations in Charlottesville, VA, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Charlottesville, VA. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 528 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Charlottesville, VA
As of 2024, the percent of homes in Charlottesville, VA under the Section 8 program is 8.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Charlottesville, VA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 641 |
Total Units Section 8 | 618 |
% Rentals under Section 8 | 8.7% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,500 | $1,520 |
| 2 Bedroom | $120 | $1,650 | $1,770 |
| 3 Bedroom | -$90 | $2,300 | $2,210 |
| 4 Bedroom | -$170 | $2,850 | $2,680 |
Affordability — Charlottesville, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $513,000 |
| Median Household Income | $91,200 |