Hiwassee, VA 24347 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hiwassee, VA—24347

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$204,000

0.7% YoY Growth

Household Income

$58,600

12.0% YoY Growth

Days on Market

155

12.0% Shorter YoY

Home Price Forecast

1.1%

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Hiwassee, VA

As of Dec '25, the median home price in Hiwassee, VA is $204,000, with a year-over-year change of -0.7%. This indicates that home prices in Hiwassee, VA are flat. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$204,000	-0.7%
Single Family	$205,000	0.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

17.9%

2 Bedrooms

26.2%

3 Bedrooms

56.0%

Property Listings — Hiwassee, VA

As of Dec '25, Realtor.com reports that the median days on market for a home in Hiwassee, VA is 85. This is a decrease of -19.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$339,000	42.0%
Listing Count	6	5.0%
Listings as % of Homes	0.7%	5.0%
Days on Market	155	-12.0%

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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%

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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%

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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%

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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

Hiwassee, VA—24347

Key Metrics at a Glance

Home Price Trends — Hiwassee, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hiwassee, VA

% of Rental Stock

Property Listings — Hiwassee, VA

Demographics — Hiwassee, VA

Race and Ethnicity

Mortgage and Risk — Hiwassee, VA

Mortgages

Rentals and Section 8 — Hiwassee, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Hiwassee, VA

Home Price to Income Ratio

Hiwassee, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Draper, VA

Barren Springs, VA

Radford, VA

Pulaski, VA

New River

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.6
Median Home Price	$204,000
Median Household Income	$58,600

Hiwassee, VA—24347

Key Metrics at a Glance

Home Price Trends — Hiwassee, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hiwassee, VA

% of Rental Stock

Property Listings — Hiwassee, VA

Demographics — Hiwassee, VA

Race and Ethnicity

Mortgage and Risk — Hiwassee, VA

Mortgages

Rentals and Section 8 — Hiwassee, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Hiwassee, VA

Home Price to Income Ratio

Hiwassee, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Draper, VA

Barren Springs, VA

Radford, VA

Pulaski, VA

New River

Frequently Asked Questions

What is the average home price in Hiwassee, VA 24347?

How have home prices in Hiwassee, VA 24347 changed over the past year?

What is the home price projection for Hiwassee, VA 24347?

What are the demographics of Hiwassee, VA 24347?

How long does it take homes to sell in Hiwassee, VA 24347?

What is the average rent price in Hiwassee, VA 24347?