Charlottesville, VA 22903 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Charlottesville, VA—22903

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$518,000

1.2% YoY Growth

Household Income

$64,400

1.6% YoY Growth

Days on Market

67

1.0% Shorter YoY

Home Price Forecast

1.6%

Median Rent

$2,000

11.8% YoY Growth

1-Bed Rent

$1,710

12.0% YoY Growth

2-Bed Rent

$1,900

4.4% YoY Growth

3-Bed Rent

$2,300

1.2% YoY Growth

Other Zip Codes in Charlottesville, VA

22901 22902 22911

Home Price Trends — Charlottesville, VA

As of Nov '25, the median home price in Charlottesville, VA is $518,000, with a year-over-year change of 1.2%. This indicates that home prices in Charlottesville, VA are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$518,000	1.2%
Single Family	$571,000	0.5%
Condos	$273,000	2.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Charlottesville, VA

As of July '25, Rentcast reports the average rent in Charlottesville, VA is $2,280, with a year-over-year rent change of 11.8%. Per bedroom, the median rent as of July '25 in Charlottesville, VA is 1-bedrooms: $1,590, 2-bedrooms: $1,910, 3-bedrooms: $2,450, 4-bedrooms: $3,100. The most common rental property sizes in Charlottesville, VA are 2-bedroom and 3-bedroom, accounting for 37.1% and 23.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,000	$2,280
Studio Rent	N/A	N/A
1 Bed Rent	$1,710	$1,590
2 Bed Rent	$1,900	$1,910
3 Bed Rent	$2,300	$2,450
4 Bed Rent	$2,750	$3,100

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% of Rental Stock

Studio

4.8%

1 Bedroom

19.8%

2 Bedrooms

37.1%

3 Bedrooms

23.6%

4 Bedrooms

11.7%

5+ Bedrooms

3.0%

Property Listings — Charlottesville, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Charlottesville, VA is 67. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$569,000	-21.0%
Listing Count	117	13.0%
Listings as % of Homes	0.5%	13.0%
Days on Market	67	-1.0%

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Demographics — Charlottesville, VA

As of the latest ACS Survey released in 2023, Charlottesville, VA has a population of 39,900, which has decreased by -1.4% over the past 5 years. Charlottesville, VA is a moderately popular place for families, as children make up 15.4% of the population. The area has a highly educated workforce, with 65.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	39,900	-1.4%
% Under 18	15.4%	0.0%
% Seniors	11.6%	11.5%
% WFH	16.9%	128.4%
% w/ College Degree	65.1%	3.8%

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As of the latest ACS Survey released in 2023, Charlottesville, VA is a predominantly white area, with 64.8% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Charlottesville, VA is black, making up 14.6% of the population. Foreign-born residents account for 12.7% of the population in Charlottesville, VA, and this percentage has decreased by 20.1% 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	64.8%	-4.1%
% Black	14.6%	-2.7%
% Hispanic	7.0%	70.7%
% Asian	8.9%	-12.7%
% Foreign Born	12.7%	-20.1%

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Mortgage and Risk — Charlottesville, VA

According to HUD data as of 2023, there were 297 mortgage originations in Charlottesville, VA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Charlottesville, VA. Investor activity is low, as 5.0% 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	297
% Conventional Loans	97.0%
% Government Loans	3.0%
% Investor Loans	5.0%
% Second Loans	4.0%
% Cash Out Refinance	4.0%

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Rentals and Section 8 — Charlottesville, VA

As of 2024, the percent of homes in Charlottesville, VA under the Section 8 program is 4.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Charlottesville, VA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	571
Total Units Section 8	419
% Rentals under Section 8	4.7%
% Occupied Section 8	79.2%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$230	$1,710	$1,480
2 Bedroom	-$180	$1,900	$1,720
3 Bedroom	-$160	$2,300	$2,140
4 Bedroom	-$140	$2,750	$2,610