Charlottesville, VA—22903
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 $527,000, with a year-over-year change of 1.7%. This indicates that home prices in Charlottesville, VA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $527,000 | 1.7% |
| Single Family | $580,000 | 1.0% |
| Condos | $274,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $274,000 | 3.4% |
2 Bed | $346,000 | 0.3% |
3 Bed | $482,000 | 0.6% |
4 Bed | $760,000 | 2.6% |
| 5 Bed | $1,176,000 | 4.5% |
% of Housing Stock
Rental Trends — Charlottesville, VA
As of July '25, Rentcast reports the average rent in Charlottesville, VA is $2,280, with a year-over-year rent change of 11.8%. Per bedroom, the median rent as of July '25 in Charlottesville, VA is 1-bedrooms: $1,590, 2-bedrooms: $1,910, 3-bedrooms: $2,450, 4-bedrooms: $3,100. The most common rental property sizes in Charlottesville, VA are 2-bedroom and 3-bedroom, accounting for 37.1% and 23.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,710 | $1,590 |
| 2 Bed Rent | $1,900 | $1,910 |
| 3 Bed Rent | $2,300 | $2,450 |
| 4 Bed Rent | $2,750 | $3,100 |
% 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 52. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $574,000 | -24.0% |
Listing Count | 119 | 10.0% |
| Listings as % of Homes | 0.5% | 10.0% |
Days on Market | 52 | -13.0% |
Demographics — Charlottesville, VA
As of the latest ACS Survey released in 2023, Charlottesville, VA has a population of 39,900, which has decreased by -1.4% over the past 5 years. Charlottesville, VA is a moderately popular place for families, as children make up 15.4% of the population. The area has a highly educated workforce, with 65.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,900 | -1.4% |
% Under 18 | 15.4% | 0.0% |
% Seniors | 11.6% | 11.5% |
% WFH | 16.9% | 128.4% |
% w/ College Degree | 65.1% | 3.8% |
As of the latest ACS Survey released in 2023, Charlottesville, VA is a predominantly white area, with 64.8% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Charlottesville, VA is black, making up 14.6% of the population. Foreign-born residents account for 12.7% of the population in Charlottesville, VA, and this percentage has decreased by 20.1% 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 | 64.8% | -4.1% |
% Black | 14.6% | -2.7% |
% Hispanic | 7.0% | 70.7% |
% Asian | 8.9% | -12.7% |
% Foreign Born | 12.7% | -20.1% |
Mortgage and Risk — Charlottesville, VA
According to HUD data as of 2023, there were 297 mortgage originations in Charlottesville, VA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Charlottesville, VA. Investor activity is low, as 5.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 297 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 5.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Charlottesville, VA
As of 2024, the percent of homes in Charlottesville, VA under the Section 8 program is 4.7%. 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. In Charlottesville, VA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 571 |
Total Units Section 8 | 419 |
% Rentals under Section 8 | 4.7% |
% Occupied Section 8 | 79.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$230 | $1,710 | $1,480 |
| 2 Bedroom | -$180 | $1,900 | $1,720 |
| 3 Bedroom | -$160 | $2,300 | $2,140 |
| 4 Bedroom | -$140 | $2,750 | $2,610 |
Affordability — Charlottesville, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.5 |
| Median Home Price | $527,000 |
| Median Household Income | $64,400 |