Wise, VA—24293
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wise, VA
As of Oct '25, the median home price in Wise, VA is $182,000, with a year-over-year change of 5.4%. This indicates that home prices in Wise, VA are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $182,000 | 5.4% |
| Single Family | $184,000 | 5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $102,000 | 0.0% |
3 Bed | $187,000 | 5.1% |
4 Bed | $259,000 | 6.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wise, VA
Wise, VA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Wise, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Wise, VA is 100. This is a increase of 44.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $209,000 | 4.0% |
Listing Count | 26 | -17.0% |
| Listings as % of Homes | 0.2% | -17.0% |
Days on Market | 100 | 44.0% |
Demographics — Wise, VA
As of the latest ACS Survey released in 2023, Wise, VA has a population of 9,620, which has increased by 5.0% over the past 5 years. Wise, VA is a moderately popular place for families, as children make up 19.2% of the population. The area has a poorly educated workforce, with 22.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,620 | 5.0% |
% Under 18 | 19.2% | 1.1% |
% Seniors | 18.1% | 5.8% |
% WFH | 13.8% | 263.2% |
% w/ College Degree | 22.4% | 9.8% |
As of the latest ACS Survey released in 2023, Wise, VA is a predominantly white area, with 95.7% of the population identifying as white. The white population has grown by 1.1% in the last 5 years. The second most common race or ethnicity in Wise, VA is hispanic, making up 1.1% of the population. Foreign-born residents account for 1.5% of the population in Wise, VA, and this percentage has decreased by 16.7% 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 | 95.7% | 1.1% |
% Black | 0.8% | -71.4% |
% Hispanic | 1.1% | 120.0% |
% Asian | 0.4% | -71.4% |
% Foreign Born | 1.5% | -16.7% |
Mortgage and Risk — Wise, VA
According to HUD data as of 2023, there were 100 mortgage originations in Wise, VA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Wise, VA. Investor activity is low, as 5.0% 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 | 100 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Wise, VA
Wise, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 242 |
Total Units Section 8 | 241 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $670 |
| 2 Bedroom | N/A | N/A | $850 |
| 3 Bedroom | N/A | N/A | $1,130 |
| 4 Bedroom | N/A | N/A | $1,430 |
Affordability — Wise, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $182,000 |
| Median Household Income | $54,000 |