Providence Forge, VA—23140
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Providence Forge, VA
As of Oct '25, the median home price in Providence Forge, VA is $439,000, with a year-over-year change of 3.7%. This indicates that home prices in Providence Forge, 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 | $439,000 | 3.7% |
| Single Family | $442,000 | 4.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $216,000 | 0.9% |
3 Bed | $360,000 | 2.6% |
4 Bed | $558,000 | 5.5% |
| 5 Bed | $631,000 | 4.8% |
% of Housing Stock
Rental Trends — Providence Forge, VA
As of July '25, Rentcast reports the average rent in Providence Forge, VA is $2,740, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Providence Forge, VA is 2-bedrooms: $1,600, 3-bedrooms: $2,750, 4-bedrooms: $3,230. The most common rental property sizes in Providence Forge, VA are 3-bedroom and 2-bedroom, accounting for 65.8% and 23.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $2,740 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,450 | $1,600 |
| 3 Bed Rent | $2,700 | $2,750 |
| 4 Bed Rent | $3,100 | $3,230 |
% of Rental Stock
Property Listings — Providence Forge, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Providence Forge, VA is 53. This is a increase of 46.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $640,000 | 22.0% |
Listing Count | 54 | -8.0% |
| Listings as % of Homes | 2.4% | -8.0% |
Days on Market | 53 | 46.0% |
Demographics — Providence Forge, VA
As of the latest ACS Survey released in 2023, Providence Forge, VA has a population of 7,530, which has increased by 12.8% over the past 5 years. Providence Forge, VA is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 34.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,530 | 12.8% |
% Under 18 | 23.3% | 5.9% |
% Seniors | 18.9% | 17.4% |
% WFH | 16.4% | 300.0% |
% w/ College Degree | 34.7% | 30.0% |
As of the latest ACS Survey released in 2023, Providence Forge, VA is a predominantly white area, with 60.7% of the population identifying as white. The white population has grown by 5.9% in the last 5 years. The second most common race or ethnicity in Providence Forge, VA is black, making up 23.4% of the population. Foreign-born residents account for 5.9% of the population in Providence Forge, VA, and this percentage has increased by 321.4% 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 | 60.7% | 5.9% |
% Black | 23.4% | -3.3% |
% Hispanic | 5.1% | 2.0% |
% Asian | 1.6% | 433.3% |
% Foreign Born | 5.9% | 321.4% |
Mortgage and Risk — Providence Forge, VA
According to HUD data as of 2023, there were 246 mortgage originations in Providence Forge, VA, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Providence Forge, VA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 246 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Providence Forge, VA
Providence Forge, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,720 |
| 2 Bedroom | $450 | $1,450 | $1,900 |
| 3 Bedroom | -$290 | $2,700 | $2,410 |
| 4 Bedroom | -$130 | $3,100 | $2,970 |
Affordability — Providence Forge, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $439,000 |
| Median Household Income | $99,100 |