Tazewell, VA—24651
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tazewell, VA
As of Oct '25, the median home price in Tazewell, VA is $156,000, with a year-over-year change of 3.6%. This indicates that home prices in Tazewell, VA are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $156,000 | 3.6% |
| Single Family | $156,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $94,000 | 3.3% |
3 Bed | $160,000 | 3.2% |
4 Bed | $216,000 | 8.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Tazewell, VA
As of July '25, Rentcast reports the average rent in Tazewell, VA is $807, with a year-over-year rent change of 13.3%. Per bedroom, the median rent as of July '25 in Tazewell, VA is 1-bedrooms: $625, 4-bedrooms: $1,900. The most common rental property sizes in Tazewell, VA are 2-bedroom and 1-bedroom, accounting for 43.3% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $625 | $807 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $625 | $625 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $1,900 | $1,900 |
% of Rental Stock
Property Listings — Tazewell, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Tazewell, VA is 129. This is a increase of 82.0% 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 7.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $199,000 | 31.0% |
Listing Count | 27 | 15.0% |
| Listings as % of Homes | 0.5% | 15.0% |
Days on Market | 129 | 82.0% |
Demographics — Tazewell, VA
As of the latest ACS Survey released in 2023, Tazewell, VA has a population of 5,680, which has remained stable by 0.6% over the past 5 years. Tazewell, VA is a moderately popular place for families, as children make up 20.4% of the population. The area has a poorly educated workforce, with 16.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,680 | 0.6% |
% Under 18 | 20.4% | -13.6% |
% Seniors | 25.0% | 23.8% |
% WFH | 6.6% | 153.8% |
% w/ College Degree | 16.8% | -24.3% |
As of the latest ACS Survey released in 2023, Tazewell, VA is a predominantly white area, with 90.9% 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 Tazewell, VA is black, making up 4.9% of the population. Foreign-born residents account for 0.5% of the population in Tazewell, VA, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.9% | -2.0% |
% Black | 4.9% | 44.1% |
% Hispanic | 2.5% | 257.1% |
% Asian | 0.2% | -77.8% |
% Foreign Born | 0.5% | 0.0% |
Mortgage and Risk — Tazewell, VA
According to HUD data as of 2023, there were 63 mortgage originations in Tazewell, VA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 84.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Tazewell, VA. Investor activity is low, as 8.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 63 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 8.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Tazewell, VA
Tazewell, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 85 |
Total Units Section 8 | 85 |
% 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 | $35 | $625 | $660 |
| 2 Bedroom | N/A | N/A | $850 |
| 3 Bedroom | N/A | N/A | $1,030 |
| 4 Bedroom | -$650 | $1,900 | $1,250 |
Affordability — Tazewell, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $156,000 |
| Median Household Income | $46,000 |