Hayes, VA—23072
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hayes, VA
As of Oct '25, the median home price in Hayes, VA is $353,000, with a year-over-year change of 2.6%. This indicates that home prices in Hayes, VA are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $353,000 | 2.7% |
| Single Family | $356,000 | 2.9% |
| Condos | $278,000 | 5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $261,000 | 2.8% |
3 Bed | $351,000 | 2.6% |
4 Bed | $450,000 | 3.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hayes, VA
As of July '25, Rentcast reports the average rent in Hayes, VA is $1,750, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Hayes, VA is 1-bedrooms: $1,070, 2-bedrooms: $1,220, 3-bedrooms: $2,180, 4-bedrooms: $2,400. The most common rental property sizes in Hayes, VA are 2-bedroom and 3-bedroom, accounting for 47.4% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,750 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $1,070 |
| 2 Bed Rent | $1,220 | $1,220 |
| 3 Bed Rent | $2,400 | $2,180 |
| 4 Bed Rent | $1,000 | $2,400 |
% of Rental Stock
Property Listings — Hayes, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hayes, VA is 47. This is a decrease of -12.0% 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 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 | $489,000 | -5.0% |
Listing Count | 46 | -12.0% |
| Listings as % of Homes | 0.6% | -12.0% |
Days on Market | 47 | -12.0% |
Demographics — Hayes, VA
As of the latest ACS Survey released in 2023, Hayes, VA has a population of 13,100, which has increased by 11.9% over the past 5 years. Hayes, VA is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 22.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,100 | 11.9% |
% Under 18 | 21.4% | -1.8% |
% Seniors | 19.6% | 8.9% |
% WFH | 7.0% | 159.3% |
% w/ College Degree | 22.7% | 9.1% |
As of the latest ACS Survey released in 2023, Hayes, VA is a predominantly white area, with 79.8% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Hayes, VA is black, making up 10.3% of the population. Foreign-born residents account for 1.9% of the population in Hayes, VA, and this percentage has decreased by 26.9% 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 | 79.8% | -6.6% |
% Black | 10.3% | 83.9% |
% Hispanic | 4.7% | -9.6% |
% Asian | 1.1% | 83.3% |
% Foreign Born | 1.9% | -26.9% |
Mortgage and Risk — Hayes, VA
According to HUD data as of 2023, there were 363 mortgage originations in Hayes, VA, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Hayes, VA. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 363 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Hayes, VA
As of 2024, the percent of homes in Hayes, VA under the Section 8 program is 1.0%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Hayes, VA, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,000 | $1,200 |
| 2 Bedroom | $150 | $1,220 | $1,370 |
| 3 Bedroom | -$490 | $2,400 | $1,910 |
| 4 Bedroom | $1,280 | $1,000 | $2,280 |
Affordability — Hayes, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $353,000 |
| Median Household Income | $71,900 |