Blacksburg, VA—24060
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Blacksburg, VA
As of Oct '25, the median home price in Blacksburg, VA is $413,000, with a year-over-year change of 1.4%. This indicates that home prices in Blacksburg, VA are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $413,000 | 1.4% |
| Single Family | $424,000 | 1.9% |
| Condos | $256,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $190,000 | 2.2% |
2 Bed | $260,000 | 1.6% |
3 Bed | $392,000 | 1.6% |
4 Bed | $513,000 | 2.4% |
| 5 Bed | $678,000 | 2.1% |
% of Housing Stock
Rental Trends — Blacksburg, VA
As of July '25, Rentcast reports the average rent in Blacksburg, VA is $1,750, with a year-over-year rent change of -2.8%. Per bedroom, the median rent as of July '25 in Blacksburg, VA is studios: $951, 1-bedrooms: $1,240, 2-bedrooms: $1,390, 3-bedrooms: $1,910, 4-bedrooms: $2,100. The most common rental property sizes in Blacksburg, VA are 2-bedroom and 3-bedroom, accounting for 39.1% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,750 |
| Studio Rent | $945 | $951 |
| 1 Bed Rent | $1,200 | $1,240 |
| 2 Bed Rent | $1,300 | $1,390 |
| 3 Bed Rent | $1,820 | $1,910 |
| 4 Bed Rent | $1,800 | $2,100 |
% of Rental Stock
Property Listings — Blacksburg, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Blacksburg, VA is 58. This is a decrease of -18.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $535,000 | 7.0% |
Listing Count | 156 | 22.0% |
| Listings as % of Homes | 0.3% | 22.0% |
Days on Market | 58 | -18.0% |
Demographics — Blacksburg, VA
As of the latest ACS Survey released in 2023, Blacksburg, VA has a population of 48,200, which has decreased by -13.5% over the past 5 years. Blacksburg, VA is a less popular place for families, as children make up 13.5% of the population. The area has a highly educated workforce, with 63.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 48,200 | -13.5% |
% Under 18 | 13.5% | 13.4% |
% Seniors | 13.0% | 47.7% |
% WFH | 15.4% | 161.0% |
% w/ College Degree | 63.4% | -0.6% |
As of the latest ACS Survey released in 2023, Blacksburg, VA is a predominantly white area, with 80.4% of the population identifying as white. The white population has grown by 3.2% in the last 5 years. The second most common race or ethnicity in Blacksburg, VA is asian, making up 8.5% of the population. Foreign-born residents account for 14.1% of the population in Blacksburg, VA, and this percentage has increased by 21.6% 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 | 80.4% | 3.2% |
% Black | 3.2% | -34.7% |
% Hispanic | 3.7% | -2.6% |
% Asian | 8.5% | -19.8% |
% Foreign Born | 14.1% | 21.6% |
Mortgage and Risk — Blacksburg, VA
According to HUD data as of 2023, there were 474 mortgage originations in Blacksburg, VA, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Blacksburg, VA. Investor activity is low, as 7.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 474 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 7.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Blacksburg, VA
As of 2024, the percent of homes in Blacksburg, VA under the Section 8 program is 3.5%. 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. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Blacksburg, VA, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 383 |
Total Units Section 8 | 371 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,200 | $1,040 |
| 2 Bedroom | $20 | $1,300 | $1,320 |
| 3 Bedroom | -$50 | $1,820 | $1,770 |
| 4 Bedroom | $420 | $1,800 | $2,220 |
Affordability — Blacksburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $413,000 |
| Median Household Income | $63,500 |