Richlands, VA—24639
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Richlands, VA
Home Price Trends — Richlands, VA
As of Oct '25, the median home price in Richlands, VA is $81,000, with a year-over-year change of -8.9%. This indicates that home prices in Richlands, VA are decreasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $81,000 | -8.9% |
| Single Family | $81,000 | -8.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $63,000 | -14.9% |
3 Bed | $103,000 | -6.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richlands, VA
Richlands, VA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Richlands, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Richlands, VA is 10. This is a decrease of -48.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $259,000 | 55.0% |
Listing Count | 2 | -18.0% |
| Listings as % of Homes | 0.2% | -18.0% |
Days on Market | 10 | -48.0% |
Demographics — Richlands, VA
As of the latest ACS Survey released in 2023, Richlands, VA has a population of 3,430, which has increased by 10.6% over the past 5 years. Richlands, VA is a popular place for families, as children make up 28.7% of the population. The area has a poorly educated workforce, with 24.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,430 | 10.6% |
% Under 18 | 28.7% | 57.7% |
% Seniors | 18.4% | -23.3% |
% WFH | 2.3% | ∞% |
% w/ College Degree | 24.6% | 156.2% |
As of the latest ACS Survey released in 2023, Richlands, VA is a predominantly white area, with 98.0% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Richlands, VA is hispanic, making up 0.6% of the population. Foreign-born residents account for 0.4% of the population in Richlands, VA, and this percentage has decreased by 75.0% 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 | 98.0% | 0.2% |
% Black | 0.1% | 0.0% |
% Hispanic | 0.6% | ∞% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.4% | -75.0% |
Mortgage and Risk — Richlands, VA
According to HUD data as of 2023, there were 24 mortgage originations in Richlands, VA, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Richlands, VA. Investor activity is low, as 0.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 24 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Richlands, VA
Richlands, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 25 |
Total Units Section 8 | 25 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $660 |
| 2 Bedroom | N/A | N/A | $850 |
| 3 Bedroom | N/A | N/A | $1,060 |
| 4 Bedroom | N/A | N/A | $1,310 |
Affordability — Richlands, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $81,000 |
| Median Household Income | $43,400 |