Rustburg, VA—24588
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rustburg, VA
As of Oct '25, the median home price in Rustburg, VA is $271,000, with a year-over-year change of 3.3%. This indicates that home prices in Rustburg, VA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $271,000 | 3.3% |
| Single Family | $271,000 | 3.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $184,000 | 1.1% |
3 Bed | $275,000 | 3.4% |
4 Bed | $367,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Rustburg, VA
As of July '25, Rentcast reports the average rent in Rustburg, VA is $1,740, with a year-over-year rent change of 6.7%. Per bedroom, the median rent as of July '25 in Rustburg, VA is 2-bedrooms: $950, 3-bedrooms: $1,850, 4-bedrooms: $2,000. The most common rental property sizes in Rustburg, VA are 2-bedroom and 3-bedroom, accounting for 55.3% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,740 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $950 | $950 |
| 3 Bed Rent | $1,750 | $1,850 |
| 4 Bed Rent | $2,000 | $2,000 |
% of Rental Stock
Property Listings — Rustburg, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Rustburg, VA is 50. This is a decrease of -8.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $335,000 | -13.0% |
Listing Count | 65 | 28.0% |
| Listings as % of Homes | 0.8% | 28.0% |
Days on Market | 50 | -8.0% |
Demographics — Rustburg, VA
As of the latest ACS Survey released in 2023, Rustburg, VA has a population of 8,660, which has decreased by -13.2% over the past 5 years. Rustburg, VA is a moderately popular place for families, as children make up 18.2% of the population. The area has a moderately educated workforce, with 25.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,660 | -13.2% |
% Under 18 | 18.2% | -13.3% |
% Seniors | 18.1% | 24.0% |
% WFH | 3.9% | 95.0% |
% w/ College Degree | 25.2% | 34.0% |
As of the latest ACS Survey released in 2023, Rustburg, VA is a predominantly white area, with 77.9% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Rustburg, VA is black, making up 14.2% of the population. Foreign-born residents account for 3.0% of the population in Rustburg, VA, and this percentage has increased by 66.7% 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 | 77.9% | -2.0% |
% Black | 14.2% | -18.4% |
% Hispanic | 4.1% | 355.6% |
% Asian | 1.6% | 220.0% |
% Foreign Born | 3.0% | 66.7% |
Mortgage and Risk — Rustburg, VA
According to HUD data as of 2023, there were 192 mortgage originations in Rustburg, VA, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Rustburg, VA. Investor activity is low, as 3.0% 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 | 192 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Rustburg, VA
Rustburg, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 31 |
Total Units Section 8 | 31 |
% Rentals under Section 8 | 3.3% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $870 |
| 2 Bedroom | $40 | $950 | $990 |
| 3 Bedroom | -$400 | $1,750 | $1,350 |
| 4 Bedroom | -$530 | $2,000 | $1,470 |
Affordability — Rustburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $271,000 |
| Median Household Income | $68,900 |