Waverly, VA—23890
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waverly, VA
As of Oct '25, the median home price in Waverly, VA is $186,000, with a year-over-year change of -4.7%. This indicates that home prices in Waverly, VA are decreasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $186,000 | -4.7% |
| Single Family | $186,000 | -4.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $129,000 | -14.0% |
3 Bed | $196,000 | -3.0% |
4 Bed | $285,000 | -1.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Waverly, VA
As of July '25, Rentcast reports the average rent in Waverly, VA is $1,440, with a year-over-year rent change of -0.7%. Per bedroom, the median rent as of July '25 in Waverly, VA is 3-bedrooms: $1,350, 4-bedrooms: $1,700. The most common rental property sizes in Waverly, VA are 3-bedroom and 2-bedroom, accounting for 38.5% and 35.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,150 | $1,350 |
| 4 Bed Rent | $1,700 | $1,700 |
% of Rental Stock
Property Listings — Waverly, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Waverly, VA is 43. This is a decrease of -48.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $268,000 | -14.0% |
Listing Count | 17 | 110.0% |
| Listings as % of Homes | 0.7% | 110.0% |
Days on Market | 43 | -48.0% |
Demographics — Waverly, VA
As of the latest ACS Survey released in 2023, Waverly, VA has a population of 4,600, which has increased by 24.1% over the past 5 years. Waverly, VA is a moderately popular place for families, as children make up 21.0% of the population. The area has a poorly educated workforce, with 23.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,600 | 24.1% |
% Under 18 | 21.0% | 1.9% |
% Seniors | 18.8% | -26.6% |
% WFH | 9.2% | 187.5% |
% w/ College Degree | 23.6% | 38.8% |
As of the latest ACS Survey released in 2023, Waverly, VA is a predominantly black area, with 60.2% of the population identifying as black. The black population has grown by 3.4% in the last 5 years. The second most common race or ethnicity in Waverly, VA is white, making up 36.4% of the population. Foreign-born residents account for 0.5% of the population in Waverly, VA, and this percentage has decreased by 80.0% 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 | 36.4% | -4.5% |
% Black | 60.2% | 3.4% |
% Hispanic | 1.0% | -65.5% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.5% | -80.0% |
Mortgage and Risk — Waverly, VA
According to HUD data as of 2023, there were 33 mortgage originations in Waverly, VA, of which 48.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Waverly, VA. Investor activity is low, as 0.0% 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 | 33 |
% Conventional Loans | 48.0% |
% Government Loans | 52.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Waverly, VA
Waverly, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 119 |
Total Units Section 8 | 119 |
% Rentals under Section 8 | 26.1% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,230 |
| 2 Bedroom | N/A | N/A | $1,380 |
| 3 Bedroom | $620 | $1,150 | $1,770 |
| 4 Bedroom | $460 | $1,700 | $2,160 |
Affordability — Waverly, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $186,000 |
| Median Household Income | $83,700 |