New Market, VA 22844 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

New Market, VA—22844

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$323,000

0.9% YoY Growth

Household Income

$63,100

24.1% YoY Growth

Days on Market

49.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$1,300

3.3% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,050

3.7% YoY Growth

3-Bed Rent

$1,900

23.2% YoY Growth

Home Price Trends — New Market, VA

New Market, VA lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$323,000	-0.9%
Single Family	$324,000	-1.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — New Market, VA

As of July '25, Rentcast reports the average rent in New Market, VA is $1,470, with a year-over-year rent change of -3.3%. Per bedroom, the median rent as of July '25 in New Market, VA is 2-bedrooms: $1,120, 3-bedrooms: $1,700. The most common rental property sizes in New Market, VA are 2-bedroom and 1-bedroom, accounting for 41.5% and 35.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,300	$1,470
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$1,050	$1,120
3 Bed Rent	$1,900	$1,700
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

3.4%

1 Bedroom

35.4%

2 Bedrooms

41.5%

3 Bedrooms

6.1%

4 Bedrooms

6.7%

5+ Bedrooms

7.0%

Property Listings — New Market, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in New Market, VA is 85. This is a increase of 49.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$310,000	-11.0%
Listing Count	27	72.0%
Listings as % of Homes	0.9%	72.0%
Days on Market	85	49.0%

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Demographics — New Market, VA

As of the latest ACS Survey released in 2023, New Market, VA has a population of 4,670, which has decreased by -3.7% over the past 5 years. New Market, VA is a less popular place for families, as children make up 10.9% of the population. The area has a poorly educated workforce, with 18.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	4,670	-3.7%
% Under 18	10.9%	-30.6%
% Seniors	31.9%	33.5%
% WFH	10.7%	245.2%
% w/ College Degree	18.8%	-17.5%

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As of the latest ACS Survey released in 2023, New Market, VA is a predominantly white area, with 91.6% of the population identifying as white. The white population has grown by 4.2% in the last 5 years. The second most common race or ethnicity in New Market, VA is hispanic, making up 3.9% of the population. Foreign-born residents account for 1.7% of the population in New Market, VA, and this percentage has decreased by 73.0% 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	91.6%	4.2%
% Black	3.1%	181.8%
% Hispanic	3.9%	-61.4%
% Asian	0.2%	-33.3%
% Foreign Born	1.7%	-73.0%

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Mortgage and Risk — New Market, VA

According to HUD data as of 2023, there were 89 mortgage originations in New Market, VA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in New Market, VA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	89
% Conventional Loans	69.0%
% Government Loans	31.0%
% Investor Loans	2.0%
% Second Loans	6.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — New Market, VA

New Market, VA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	63
Total Units Section 8	63
% Rentals under Section 8	9.4%
% Occupied Section 8	93.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$840
2 Bedroom	$40	$1,050	$1,090
3 Bedroom	-$440	$1,900	$1,460
4 Bedroom	N/A	N/A	$1,840

New Market, VA—22844

Key Metrics at a Glance

Home Price Trends — New Market, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Market, VA

% of Rental Stock

Property Listings — New Market, VA

Demographics — New Market, VA

Race and Ethnicity

Mortgage and Risk — New Market, VA

Mortgages

Rentals and Section 8 — New Market, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — New Market, VA

Home Price to Income Ratio

New Market, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Timberville, VA

Shenandoah, VA

Broadway, VA

Linville, VA

Zenda, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.6
Median Home Price	$323,000
Median Household Income	$63,100

New Market, VA—22844

Key Metrics at a Glance

Home Price Trends — New Market, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Market, VA

% of Rental Stock

Property Listings — New Market, VA

Demographics — New Market, VA

Race and Ethnicity

Mortgage and Risk — New Market, VA

Mortgages

Rentals and Section 8 — New Market, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — New Market, VA

Home Price to Income Ratio

New Market, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Timberville, VA

Shenandoah, VA

Broadway, VA

Linville, VA

Zenda, VA

Frequently Asked Questions

What is the average home price in New Market, VA 22844?

How have home prices in New Market, VA 22844 changed over the past year?

What is the home price projection for New Market, VA 22844?

What are the demographics of New Market, VA 22844?

How long does it take homes to sell in New Market, VA 22844?

What is the average rent price in New Market, VA 22844?