Prince George, VA—23875
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Prince George, VA
As of Oct '25, the median home price in Prince George, VA is $340,000, with a year-over-year change of 1.4%. This indicates that home prices in Prince George, VA are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $340,000 | 1.4% |
| Single Family | $340,000 | 1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $249,000 | 0.0% |
3 Bed | $323,000 | 1.6% |
4 Bed | $373,000 | 1.9% |
| 5 Bed | $442,000 | 1.6% |
% of Housing Stock
Rental Trends — Prince George, VA
As of July '25, Rentcast reports the average rent in Prince George, VA is $1,610, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Prince George, VA is 1-bedrooms: $1,540, 2-bedrooms: $1,230, 3-bedrooms: $1,750, 4-bedrooms: $2,150. The most common rental property sizes in Prince George, VA are 2-bedroom and 3-bedroom, accounting for 46.6% and 46.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,610 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,240 | $1,540 |
| 2 Bed Rent | $1,200 | $1,230 |
| 3 Bed Rent | $1,700 | $1,750 |
| 4 Bed Rent | $1,800 | $2,150 |
% of Rental Stock
Property Listings — Prince George, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Prince George, VA is 58. This is a increase of 20.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $357,000 | -2.0% |
Listing Count | 47 | 52.0% |
| Listings as % of Homes | 0.4% | 52.0% |
Days on Market | 58 | 20.0% |
Demographics — Prince George, VA
As of the latest ACS Survey released in 2023, Prince George, VA has a population of 12,900, which has increased by 6.4% over the past 5 years. Prince George, VA is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 28.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,900 | 6.4% |
% Under 18 | 21.2% | -9.0% |
% Seniors | 15.9% | 21.4% |
% WFH | 9.5% | 352.4% |
% w/ College Degree | 28.6% | 6.3% |
As of the latest ACS Survey released in 2023, Prince George, VA is a predominantly white area, with 49.9% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Prince George, VA is black, making up 37.4% of the population. Foreign-born residents account for 3.5% of the population in Prince George, VA, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 49.9% | -2.0% |
% Black | 37.4% | -2.3% |
% Hispanic | 5.2% | -24.6% |
% Asian | 2.0% | -23.1% |
% Foreign Born | 3.5% | 0.0% |
Mortgage and Risk — Prince George, VA
According to HUD data as of 2023, there were 121 mortgage originations in Prince George, VA, of which 40.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 56.0% above 90% LTV (very high). This implies large mortgage risk in Prince George, VA. Investor activity is low, as 1.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 121 |
% Conventional Loans | 40.0% |
% Government Loans | 60.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Prince George, VA
As of 2024, the percent of homes in Prince George, VA under the Section 8 program is 10.7%. 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 Prince George, 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 | 131 |
Total Units Section 8 | 131 |
% Rentals under Section 8 | 10.7% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,240 | $1,480 |
| 2 Bedroom | $440 | $1,200 | $1,640 |
| 3 Bedroom | $380 | $1,700 | $2,080 |
| 4 Bedroom | $770 | $1,800 | $2,570 |
Affordability — Prince George, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $340,000 |
| Median Household Income | $76,600 |