Gloucester, VA—23061
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gloucester, VA
As of Oct '25, the median home price in Gloucester, VA is $368,000, with a year-over-year change of 4.1%. This indicates that home prices in Gloucester, VA are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $368,000 | 4.1% |
| Single Family | $368,000 | 3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $245,000 | 2.9% |
2 Bed | $293,000 | 4.6% |
3 Bed | $365,000 | 3.7% |
4 Bed | $474,000 | 4.2% |
| 5 Bed | $552,000 | 2.0% |
% of Housing Stock
Rental Trends — Gloucester, VA
As of July '25, Rentcast reports the average rent in Gloucester, VA is $2,370, with a year-over-year rent change of 12.3%. Per bedroom, the median rent as of July '25 in Gloucester, VA is 1-bedrooms: $1,800, 2-bedrooms: $1,200, 3-bedrooms: $2,130, 4-bedrooms: $3,000. The most common rental property sizes in Gloucester, VA are 3-bedroom and 2-bedroom, accounting for 59.3% and 16.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,370 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,800 | $1,800 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $2,000 | $2,130 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Gloucester, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Gloucester, VA is 38. This is a decrease of -15.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $428,000 | 17.0% |
Listing Count | 75 | -6.0% |
| Listings as % of Homes | 0.6% | -6.0% |
Days on Market | 38 | -15.0% |
Demographics — Gloucester, VA
As of the latest ACS Survey released in 2023, Gloucester, VA has a population of 23,200, which has increased by 6.9% over the past 5 years. Gloucester, VA is a moderately popular place for families, as children make up 20.6% of the population. The area has a moderately educated workforce, with 28.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 6.9% |
% Under 18 | 20.6% | 3.0% |
% Seniors | 20.6% | 10.8% |
% WFH | 9.7% | 102.1% |
% w/ College Degree | 28.4% | 22.4% |
As of the latest ACS Survey released in 2023, Gloucester, VA is a predominantly white area, with 84.8% of the population identifying as white. The white population has grown by 1.2% in the last 5 years. The second most common race or ethnicity in Gloucester, VA is black, making up 7.2% of the population. Foreign-born residents account for 1.4% of the population in Gloucester, VA, and this percentage has decreased by 33.3% 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 | 84.8% | 1.2% |
% Black | 7.2% | -28.7% |
% Hispanic | 3.7% | 42.3% |
% Asian | 0.5% | -54.5% |
% Foreign Born | 1.4% | -33.3% |
Mortgage and Risk — Gloucester, VA
According to HUD data as of 2023, there were 509 mortgage originations in Gloucester, VA, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Gloucester, VA. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 509 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Gloucester, VA
As of 2024, the percent of homes in Gloucester, VA under the Section 8 program is 10.5%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Gloucester, VA, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 184 |
Total Units Section 8 | 108 |
% Rentals under Section 8 | 10.5% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$370 | $1,800 | $1,430 |
| 2 Bedroom | $440 | $1,200 | $1,640 |
| 3 Bedroom | $280 | $2,000 | $2,280 |
| 4 Bedroom | -$280 | $3,000 | $2,720 |
Affordability — Gloucester, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $368,000 |
| Median Household Income | $91,500 |