Bedford, VA—24523
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bedford, VA
As of Oct '25, the median home price in Bedford, VA is $261,000, with a year-over-year change of 0.5%. This indicates that home prices in Bedford, VA are flat. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $261,000 | 0.5% |
| Single Family | $261,000 | 1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $209,000 | 1.0% |
3 Bed | $271,000 | 1.9% |
4 Bed | $344,000 | 3.9% |
| 5 Bed | $404,000 | 5.5% |
% of Housing Stock
Rental Trends — Bedford, VA
As of July '25, Rentcast reports the average rent in Bedford, VA is $1,350, with a year-over-year rent change of 16.4%. Per bedroom, the median rent as of July '25 in Bedford, VA is 1-bedrooms: $1,000, 2-bedrooms: $1,240, 3-bedrooms: $1,450, 4-bedrooms: $2,000. The most common rental property sizes in Bedford, VA are 2-bedroom and 3-bedroom, accounting for 44.6% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $699 | $1,000 |
| 2 Bed Rent | $895 | $1,240 |
| 3 Bed Rent | $1,500 | $1,450 |
| 4 Bed Rent | $2,000 | $2,000 |
% of Rental Stock
Property Listings — Bedford, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bedford, VA is 51. This is a decrease of -10.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $354,000 | -3.0% |
Listing Count | 109 | 33.0% |
| Listings as % of Homes | 0.4% | 33.0% |
Days on Market | 51 | -10.0% |
Demographics — Bedford, VA
As of the latest ACS Survey released in 2023, Bedford, VA has a population of 21,400, which has increased by 6.8% over the past 5 years. Bedford, VA is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | 6.8% |
% Under 18 | 20.6% | 5.1% |
% Seniors | 22.4% | 7.2% |
% WFH | 8.8% | 214.3% |
% w/ College Degree | 24.7% | 24.7% |
As of the latest ACS Survey released in 2023, Bedford, VA is a predominantly white area, with 82.2% of the population identifying as white. The white population has grown by 0.6% in the last 5 years. The second most common race or ethnicity in Bedford, VA is black, making up 9.7% of the population. Foreign-born residents account for 1.9% of the population in Bedford, VA, and this percentage has increased by 90.0% 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 | 82.2% | 0.6% |
% Black | 9.7% | -33.1% |
% Hispanic | 2.2% | 120.0% |
% Asian | 0.5% | 66.7% |
% Foreign Born | 1.9% | 90.0% |
Mortgage and Risk — Bedford, VA
According to HUD data as of 2023, there were 479 mortgage originations in Bedford, VA, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Bedford, VA. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 479 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Bedford, VA
As of 2024, the percent of homes in Bedford, VA under the Section 8 program is 13.6%. 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 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Bedford, VA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 308 |
Total Units Section 8 | 258 |
% Rentals under Section 8 | 13.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $371 | $699 | $1,070 |
| 2 Bedroom | $315 | $895 | $1,210 |
| 3 Bedroom | $160 | $1,500 | $1,660 |
| 4 Bedroom | -$200 | $2,000 | $1,800 |
Affordability — Bedford, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $261,000 |
| Median Household Income | $70,100 |