Buchanan, VA 24066 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Buchanan, VA—24066

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$213,000

1.7% YoY Growth

Household Income

$62,500

12.9% YoY Growth

Days on Market

37.0% Longer YoY

Home Price Forecast

2.9%

Median Rent

$950

5.3% YoY Growth

1-Bed Rent

$750

N/A

2-Bed Rent

$975

N/A

3-Bed Rent

$1,300

23.8% YoY Growth

Home Price Trends — Buchanan, VA

As of Dec '25, the median home price in Buchanan, VA is $213,000, with a year-over-year change of -1.7%. This indicates that home prices in Buchanan, VA are decreasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$213,000	-1.7%
Single Family	$214,000	-0.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Buchanan, VA

As of July '25, Rentcast reports the average rent in Buchanan, VA is $994, with a year-over-year rent change of -5.3%. Per bedroom, the median rent as of July '25 in Buchanan, VA is 1-bedrooms: $850, 2-bedrooms: $975, 3-bedrooms: $1,300. The most common rental property sizes in Buchanan, VA are 3-bedroom and 2-bedroom, accounting for 44.6% and 42.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$950	$994
Studio Rent	N/A	N/A
1 Bed Rent	$750	$850
2 Bed Rent	$975	$975
3 Bed Rent	$1,300	$1,300
4 Bed Rent	N/A	N/A

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% of Rental Stock

2 Bedrooms

42.9%

3 Bedrooms

44.6%

4 Bedrooms

10.4%

5+ Bedrooms

2.1%

Property Listings — Buchanan, VA

As of Dec '25, Realtor.com reports that the median days on market for a home in Buchanan, VA is 76. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$378,000	28.0%
Listing Count	13	-20.0%
Listings as % of Homes	0.6%	-20.0%
Days on Market	80	37.0%

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Demographics — Buchanan, VA

As of the latest ACS Survey released in 2023, Buchanan, VA has a population of 5,230, which has increased by 3.2% over the past 5 years. Buchanan, VA is a moderately popular place for families, as children make up 19.0% of the population. The area has a poorly educated workforce, with 19.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	5,230	3.2%
% Under 18	19.0%	2.7%
% Seniors	25.4%	22.7%
% WFH	11.1%	208.3%
% w/ College Degree	19.1%	22.4%

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As of the latest ACS Survey released in 2023, Buchanan, VA is a predominantly white area, with 92.6% of the population identifying as white. The white population has shrunk by 1.1% in the last 5 years. The second most common race or ethnicity in Buchanan, VA is hispanic, making up 2.6% of the population. Foreign-born residents account for 1.5% of the population in Buchanan, VA, and this percentage has decreased by 21.1% 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	92.6%	-1.1%
% Black	1.0%	-64.3%
% Hispanic	2.6%	44.4%
% Asian	0.1%	∞%
% Foreign Born	1.5%	-21.1%

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Mortgage and Risk — Buchanan, VA

According to HUD data as of 2023, there were 76 mortgage originations in Buchanan, VA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Buchanan, VA. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	76
% Conventional Loans	68.0%
% Government Loans	32.0%
% Investor Loans	4.0%
% Second Loans	0.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — Buchanan, VA

Buchanan, VA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	1
Total Units Section 8	1
% 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	$150	$750	$900
2 Bedroom	$95	$975	$1,070
3 Bedroom	$200	$1,300	$1,500
4 Bedroom	N/A	N/A	$1,770

Buchanan, VA—24066

Key Metrics at a Glance

Home Price Trends — Buchanan, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Buchanan, VA

% of Rental Stock

Property Listings — Buchanan, VA

Demographics — Buchanan, VA

Race and Ethnicity

Mortgage and Risk — Buchanan, VA

Mortgages

Rentals and Section 8 — Buchanan, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Buchanan, VA

Home Price to Income Ratio

Buchanan, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Montvale, VA

Thaxton, VA

Blue Ridge, VA

Eagle Rock, VA

Fincastle, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$213,000
Median Household Income	$62,500

Buchanan, VA—24066

Key Metrics at a Glance

Home Price Trends — Buchanan, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Buchanan, VA

% of Rental Stock

Property Listings — Buchanan, VA

Demographics — Buchanan, VA

Race and Ethnicity

Mortgage and Risk — Buchanan, VA

Mortgages

Rentals and Section 8 — Buchanan, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Buchanan, VA

Home Price to Income Ratio

Buchanan, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Montvale, VA

Thaxton, VA

Blue Ridge, VA

Eagle Rock, VA

Fincastle, VA

Frequently Asked Questions

What is the average home price in Buchanan, VA 24066?

How have home prices in Buchanan, VA 24066 changed over the past year?

What is the home price projection for Buchanan, VA 24066?

What are the demographics of Buchanan, VA 24066?

How long does it take homes to sell in Buchanan, VA 24066?

What is the average rent price in Buchanan, VA 24066?