Bedford, VA 24523 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Bedford, VA—24523

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$262,000

1.2% YoY Growth

Household Income

$70,100

36.7% YoY Growth

Days on Market

4.0% Longer YoY

Home Price Forecast

2.7%

Median Rent

$1,200

16.4% YoY Growth

1-Bed Rent

$699

15.6% YoY Growth

2-Bed Rent

$895

10.7% YoY Growth

3-Bed Rent

$1,500

2.8% YoY Growth

Home Price Trends — Bedford, VA

As of Dec '25, the median home price in Bedford, VA is $262,000, with a year-over-year change of 1.2%. This indicates that home prices in Bedford, VA are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$262,000	1.2%
Single Family	$262,000	1.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

1.5%

1 Bedroom

18.3%

2 Bedrooms

44.6%

3 Bedrooms

29.1%

4 Bedrooms

4.2%

5+ Bedrooms

2.3%

Property Listings — Bedford, VA

As of Dec '25, Realtor.com reports that the median days on market for a home in Bedford, VA is 59. This is a decrease of -5.0% 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	$376,000	-5.0%
Listing Count	106	49.0%
Listings as % of Homes	0.4%	49.0%
Days on Market	67	4.0%

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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%

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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%

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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%

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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

Bedford, VA—24523

Key Metrics at a Glance

Home Price Trends — Bedford, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bedford, VA

% of Rental Stock

Property Listings — Bedford, VA

Demographics — Bedford, VA

Race and Ethnicity

Mortgage and Risk — Bedford, VA

Mortgages

Rentals and Section 8 — Bedford, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Bedford, VA

Home Price to Income Ratio

Bedford, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Goode, VA

Thaxton, VA

Montvale, VA

Forest, VA

Moneta, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$262,000
Median Household Income	$70,100

Bedford, VA—24523

Key Metrics at a Glance

Home Price Trends — Bedford, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bedford, VA

% of Rental Stock

Property Listings — Bedford, VA

Demographics — Bedford, VA

Race and Ethnicity

Mortgage and Risk — Bedford, VA

Mortgages

Rentals and Section 8 — Bedford, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Bedford, VA

Home Price to Income Ratio

Bedford, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Goode, VA

Thaxton, VA

Montvale, VA

Forest, VA

Moneta, VA

Frequently Asked Questions

What is the average home price in Bedford, VA 24523?

How have home prices in Bedford, VA 24523 changed over the past year?

What is the home price projection for Bedford, VA 24523?

What are the demographics of Bedford, VA 24523?

How long does it take homes to sell in Bedford, VA 24523?

What is the average rent price in Bedford, VA 24523?