Buchanan, VA—24066
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Buchanan, VA
As of Oct '25, the median home price in Buchanan, VA is $211,000, with a year-over-year change of -2.6%. This indicates that home prices in Buchanan, VA are decreasing. 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 | $211,000 | -2.6% |
| Single Family | $211,000 | -1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $191,000 | 2.7% |
3 Bed | $280,000 | 4.5% |
4 Bed | $365,000 | 4.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Buchanan, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Buchanan, VA is 68. This is a decrease of -9.0% 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 | $565,000 | 34.0% |
Listing Count | 17 | 4.0% |
| Listings as % of Homes | 0.6% | 4.0% |
Days on Market | 68 | -9.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Buchanan, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $211,000 |
| Median Household Income | $62,500 |