Toano, VA—23168
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Toano, VA
As of Oct '25, the median home price in Toano, VA is $448,000, with a year-over-year change of 2.4%. This indicates that home prices in Toano, 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 | $448,000 | 2.4% |
| Single Family | $457,000 | 2.2% |
| Condos | $274,000 | 2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $247,000 | 3.3% |
3 Bed | $391,000 | 1.8% |
4 Bed | $538,000 | 2.5% |
| 5 Bed | $630,000 | 2.3% |
% of Housing Stock
Rental Trends — Toano, VA
As of July '25, Rentcast reports the average rent in Toano, VA is $2,580, with a year-over-year rent change of 3.2%. Per bedroom, the median rent as of July '25 in Toano, VA is 1-bedrooms: $1,600, 2-bedrooms: $1,880, 3-bedrooms: $2,400, 4-bedrooms: $2,970. The most common rental property sizes in Toano, VA are 3-bedroom and 2-bedroom, accounting for 46.2% and 38.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,580 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $1,880 | $1,880 |
| 3 Bed Rent | $2,250 | $2,400 |
| 4 Bed Rent | $2,800 | $2,970 |
% of Rental Stock
Property Listings — Toano, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Toano, VA is 53. This is a increase of 19.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $528,000 | 3.0% |
Listing Count | 51 | 85.0% |
| Listings as % of Homes | 0.9% | 85.0% |
Days on Market | 53 | 19.0% |
Demographics — Toano, VA
As of the latest ACS Survey released in 2023, Toano, VA has a population of 8,780, which has increased by 21.0% over the past 5 years. Toano, VA is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 44.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,780 | 21.0% |
% Under 18 | 21.6% | -12.2% |
% Seniors | 16.2% | 1.9% |
% WFH | 14.5% | 281.6% |
% w/ College Degree | 44.4% | -8.6% |
As of the latest ACS Survey released in 2023, Toano, VA is a predominantly white area, with 69.0% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Toano, VA is black, making up 16.3% of the population. Foreign-born residents account for 6.1% of the population in Toano, VA, and this percentage has increased by 134.6% 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 | 69.0% | -3.6% |
% Black | 16.3% | 23.5% |
% Hispanic | 4.3% | -31.7% |
% Asian | 5.1% | 537.5% |
% Foreign Born | 6.1% | 134.6% |
Mortgage and Risk — Toano, VA
According to HUD data as of 2023, there were 277 mortgage originations in Toano, VA, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Toano, VA. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 277 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Toano, VA
As of 2024, the percent of homes in Toano, VA under the Section 8 program is 0.3%. 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 Toano, 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 | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$250 | $1,600 | $1,350 |
| 2 Bedroom | -$340 | $1,880 | $1,540 |
| 3 Bedroom | -$110 | $2,250 | $2,140 |
| 4 Bedroom | -$250 | $2,800 | $2,550 |
Affordability — Toano, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $448,000 |
| Median Household Income | $128,000 |