Amherst, VA—24521
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Amherst, VA
As of Oct '25, the median home price in Amherst, VA is $282,000, with a year-over-year change of -0.2%. This indicates that home prices in Amherst, VA are flat. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $282,000 | -0.2% |
| Single Family | $283,000 | 0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $194,000 | -2.5% |
3 Bed | $289,000 | 0.3% |
4 Bed | $382,000 | 2.4% |
| 5 Bed | $483,000 | 2.5% |
% of Housing Stock
Rental Trends — Amherst, VA
As of July '25, Rentcast reports the average rent in Amherst, VA is $1,130, with a year-over-year rent change of 46.4%. Per bedroom, the median rent as of July '25 in Amherst, VA is 1-bedrooms: $795, 3-bedrooms: $1,800. The most common rental property sizes in Amherst, VA are 3-bedroom and 2-bedroom, accounting for 38.6% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $795 | $1,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $795 | $795 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,800 | $1,800 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Amherst, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Amherst, VA is 58. This is a decrease of -13.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $378,000 | 2.0% |
Listing Count | 38 | 15.0% |
| Listings as % of Homes | 0.5% | 15.0% |
Days on Market | 58 | -13.0% |
Demographics — Amherst, VA
As of the latest ACS Survey released in 2023, Amherst, VA has a population of 10,100, which has remained stable by -0.9% over the past 5 years. Amherst, VA is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 26.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,100 | -0.9% |
% Under 18 | 20.9% | 9.4% |
% Seniors | 23.2% | -2.9% |
% WFH | 11.9% | 190.2% |
% w/ College Degree | 26.9% | 33.8% |
As of the latest ACS Survey released in 2023, Amherst, VA is a predominantly white area, with 77.8% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Amherst, VA is black, making up 13.9% of the population. Foreign-born residents account for 1.9% of the population in Amherst, VA, and this percentage has decreased by 5.0% 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 | 77.8% | -4.2% |
% Black | 13.9% | 8.6% |
% Hispanic | 2.6% | -7.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.9% | -5.0% |
Mortgage and Risk — Amherst, VA
According to HUD data as of 2023, there were 205 mortgage originations in Amherst, VA, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Amherst, VA. Investor activity is low, as 3.0% 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 | 205 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Amherst, VA
Amherst, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 28 |
Total Units Section 8 | 28 |
% Rentals under Section 8 | 2.6% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $485 | $795 | $1,280 |
| 2 Bedroom | N/A | N/A | $1,520 |
| 3 Bedroom | $110 | $1,800 | $1,910 |
| 4 Bedroom | N/A | N/A | $2,350 |
Affordability — Amherst, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $282,000 |
| Median Household Income | $69,100 |