Charlottesville, VA—22911
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 $501,000, with a year-over-year change of 1.6%. 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 | $501,000 | 1.6% |
| Single Family | $519,000 | 1.4% |
| Condos | $318,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $239,000 | 3.9% |
2 Bed | $327,000 | 2.5% |
3 Bed | $438,000 | 0.7% |
4 Bed | $601,000 | 1.9% |
| 5 Bed | $805,000 | 2.3% |
% of Housing Stock
Rental Trends — Charlottesville, VA
As of July '25, Rentcast reports the average rent in Charlottesville, VA is $2,490, with a year-over-year rent change of 10.7%. Per bedroom, the median rent as of July '25 in Charlottesville, VA is 1-bedrooms: $1,630, 2-bedrooms: $2,060, 3-bedrooms: $2,530, 4-bedrooms: $2,870. The most common rental property sizes in Charlottesville, VA are 2-bedroom and 3-bedroom, accounting for 41.1% and 28.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,680 | $1,630 |
| 2 Bed Rent | $1,930 | $2,060 |
| 3 Bed Rent | $2,440 | $2,530 |
| 4 Bed Rent | $2,650 | $2,870 |
% 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 64. This is a decrease of -3.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $750,000 | 15.0% |
Listing Count | 160 | -15.0% |
| Listings as % of Homes | 1.5% | -15.0% |
Days on Market | 64 | -3.0% |
Demographics — Charlottesville, VA
As of the latest ACS Survey released in 2023, Charlottesville, VA has a population of 19,000, which has increased by 7.1% over the past 5 years. Charlottesville, VA is a moderately popular place for families, as children make up 22.2% of the population. The area has a highly educated workforce, with 60.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,000 | 7.1% |
% Under 18 | 22.2% | -3.1% |
% Seniors | 22.9% | 17.4% |
% WFH | 20.3% | 290.4% |
% w/ College Degree | 60.3% | 12.3% |
As of the latest ACS Survey released in 2023, Charlottesville, VA is a predominantly white area, with 73.5% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Charlottesville, VA is black, making up 7.4% of the population. Foreign-born residents account for 10.5% of the population in Charlottesville, VA, and this percentage has decreased by 15.3% 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 | 73.5% | -6.4% |
% Black | 7.4% | -11.9% |
% Hispanic | 5.7% | -1.7% |
% Asian | 6.8% | 30.8% |
% Foreign Born | 10.5% | -15.3% |
Mortgage and Risk — Charlottesville, VA
According to HUD data as of 2023, there were 498 mortgage originations in Charlottesville, VA, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Charlottesville, VA. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 498 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Charlottesville, VA
As of 2024, the percent of homes in Charlottesville, VA under the Section 8 program is 3.9%. 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, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 98 |
Total Units Section 8 | 98 |
% Rentals under Section 8 | 3.9% |
% Occupied Section 8 | 72.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $1,680 | $1,690 |
| 2 Bedroom | $40 | $1,930 | $1,970 |
| 3 Bedroom | $20 | $2,440 | $2,460 |
| 4 Bedroom | $340 | $2,650 | $2,990 |
Affordability — Charlottesville, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $501,000 |
| Median Household Income | $122,000 |