Hiwassee, VA—24347
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hiwassee, VA
As of Oct '25, the median home price in Hiwassee, VA is $205,000, with a year-over-year change of -1.5%. This indicates that home prices in Hiwassee, VA are decreasing. 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 | $205,000 | -1.5% |
| Single Family | $205,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hiwassee, VA
Hiwassee, 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 — Hiwassee, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hiwassee, VA is 75. This is a decrease of -6.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $344,000 | 42.0% |
Listing Count | 9 | 25.0% |
| Listings as % of Homes | 0.7% | 25.0% |
Days on Market | 75 | -6.0% |
Demographics — Hiwassee, VA
As of the latest ACS Survey released in 2023, Hiwassee, VA has a population of 1,550, which has decreased by -9.6% over the past 5 years. Hiwassee, VA is a moderately popular place for families, as children make up 18.1% of the population. The area has a poorly educated workforce, with 17.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,550 | -9.6% |
% Under 18 | 18.1% | -5.2% |
% Seniors | 19.3% | 25.3% |
% WFH | 1.8% | 5.9% |
% w/ College Degree | 17.6% | 81.4% |
As of the latest ACS Survey released in 2023, Hiwassee, VA is a predominantly white area, with 98.5% of the population identifying as white. The white population has grown by 5.8% in the last 5 years. The second most common race or ethnicity in Hiwassee, VA is asian, making up 0.3% of the population. Foreign-born residents account for 2.1% of the population in Hiwassee, VA, and this percentage has increased by 90.9% 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 | 98.5% | 5.8% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.3% | ∞% |
% Foreign Born | 2.1% | 90.9% |
Mortgage and Risk — Hiwassee, VA
According to HUD data as of 2023, there were 60 mortgage originations in Hiwassee, VA, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Hiwassee, VA. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 60 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 2.0% |
% Second Loans | 15.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Hiwassee, VA
Hiwassee, 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 | 2.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $900 |
| 2 Bedroom | N/A | N/A | $1,140 |
| 3 Bedroom | N/A | N/A | $1,550 |
| 4 Bedroom | N/A | N/A | $1,930 |
Affordability — Hiwassee, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $205,000 |
| Median Household Income | $58,600 |