Radford, VA—24141
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Radford, VA
As of Oct '25, the median home price in Radford, VA is $258,000, with a year-over-year change of 0.4%. This indicates that home prices in Radford, VA are flat. 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 | $258,000 | 0.4% |
| Single Family | $261,000 | 0.4% |
| Condos | $158,000 | -1.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $180,000 | 2.3% |
3 Bed | $270,000 | 1.5% |
4 Bed | $372,000 | 2.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Radford, VA
As of July '25, Rentcast reports the average rent in Radford, VA is $1,580, with a year-over-year rent change of 20.6%. Per bedroom, the median rent as of July '25 in Radford, VA is studios: $1,930, 1-bedrooms: $812, 2-bedrooms: $1,180, 3-bedrooms: $2,040, 4-bedrooms: $1,660. The most common rental property sizes in Radford, VA are 2-bedroom and 3-bedroom, accounting for 44.9% and 20.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,380 | $1,580 |
| Studio Rent | $1,500 | $1,930 |
| 1 Bed Rent | $750 | $812 |
| 2 Bed Rent | $1,200 | $1,180 |
| 3 Bed Rent | $1,900 | $2,040 |
| 4 Bed Rent | $1,380 | $1,660 |
% of Rental Stock
Property Listings — Radford, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Radford, VA is 49. This is a decrease of -4.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $298,000 | -3.0% |
Listing Count | 76 | -17.0% |
| Listings as % of Homes | 0.4% | -17.0% |
Days on Market | 49 | -4.0% |
Demographics — Radford, VA
As of the latest ACS Survey released in 2023, Radford, VA has a population of 21,400, which has decreased by -4.9% over the past 5 years. Radford, VA is a moderately popular place for families, as children make up 16.2% of the population. The area has a moderately educated workforce, with 40.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | -4.9% |
% Under 18 | 16.2% | 14.9% |
% Seniors | 14.7% | 2.8% |
% WFH | 5.4% | 86.2% |
% w/ College Degree | 40.9% | 15.9% |
As of the latest ACS Survey released in 2023, Radford, VA is a predominantly white area, with 85.4% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Radford, VA is black, making up 6.9% of the population. Foreign-born residents account for 3.1% of the population in Radford, VA, and this percentage has increased by 19.2% 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 | 85.4% | -5.3% |
% Black | 6.9% | 30.2% |
% Hispanic | 3.9% | 160.0% |
% Asian | 1.9% | 35.7% |
% Foreign Born | 3.1% | 19.2% |
Mortgage and Risk — Radford, VA
According to HUD data as of 2023, there were 238 mortgage originations in Radford, VA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Radford, VA. Investor activity is low, as 4.0% 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 | 238 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Radford, VA
As of 2024, the percent of homes in Radford, 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. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Radford, VA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 398 |
Total Units Section 8 | 398 |
% Rentals under Section 8 | 10.7% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $750 | $900 |
| 2 Bedroom | -$60 | $1,200 | $1,140 |
| 3 Bedroom | -$350 | $1,900 | $1,550 |
| 4 Bedroom | $550 | $1,380 | $1,930 |
Affordability — Radford, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $258,000 |
| Median Household Income | $60,500 |