Brookneal, VA—24528
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Brookneal, VA
As of Oct '25, the median home price in Brookneal, VA is $153,000, with a year-over-year change of -1.0%. This indicates that home prices in Brookneal, VA are decreasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $153,000 | -1.0% |
| Single Family | $153,000 | -0.6% |
| 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 | $171,000 | 0.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Brookneal, VA
As of July '25, Rentcast reports the average rent in Brookneal, VA is $859, with a year-over-year rent change of 21.0%. Per bedroom, the median rent as of July '25 in Brookneal, VA is studios: $800, 2-bedrooms: $874. The most common rental property sizes in Brookneal, VA are 3-bedroom and 2-bedroom, accounting for 62.2% and 31.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $859 |
| Studio Rent | $800 | $800 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $800 | $874 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Brookneal, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Brookneal, VA is 70. This is a increase of 55.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $248,000 | 13.0% |
Listing Count | 26 | -16.0% |
| Listings as % of Homes | 0.3% | -16.0% |
Days on Market | 70 | 55.0% |
Demographics — Brookneal, VA
As of the latest ACS Survey released in 2023, Brookneal, VA has a population of 3,790, which has increased by 13.3% over the past 5 years. Brookneal, VA is a moderately popular place for families, as children make up 22.3% of the population. The area has a poorly educated workforce, with 14.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,790 | 13.3% |
% Under 18 | 22.3% | 9.9% |
% Seniors | 23.2% | 10.5% |
% WFH | 3.2% | -50.8% |
% w/ College Degree | 14.4% | 28.6% |
As of the latest ACS Survey released in 2023, Brookneal, VA is a predominantly white area, with 70.5% of the population identifying as white. The white population has grown by 16.0% in the last 5 years. The second most common race or ethnicity in Brookneal, VA is black, making up 24.0% of the population. Foreign-born residents account for 1.1% of the population in Brookneal, VA, and this percentage has decreased by 66.7% 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 | 70.5% | 16.0% |
% Black | 24.0% | -20.3% |
% Hispanic | 1.3% | -59.4% |
% Asian | 0.0% | N/A |
% Foreign Born | 1.1% | -66.7% |
Mortgage and Risk — Brookneal, VA
According to HUD data as of 2023, there were 39 mortgage originations in Brookneal, VA, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Brookneal, VA. Investor activity is low, as 5.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 39 |
% Conventional Loans | 56.0% |
% Government Loans | 44.0% |
% Investor Loans | 5.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Brookneal, VA
Brookneal, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 21 |
Total Units Section 8 | 21 |
% Rentals under Section 8 | 5.7% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $940 |
| 2 Bedroom | $280 | $800 | $1,080 |
| 3 Bedroom | N/A | N/A | $1,470 |
| 4 Bedroom | N/A | N/A | $1,640 |
Affordability — Brookneal, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $153,000 |
| Median Household Income | $56,000 |