Blakes, VA—23035
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Blakes, VA
As of Oct '25, the median home price in Blakes, VA is $350,000, with a year-over-year change of 3.1%. This indicates that home prices in Blakes, VA are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $350,000 | 3.1% |
| Single Family | $349,000 | 2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $373,000 | 4.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Blakes, VA
As of July '25, Rentcast reports the average rent in Blakes, VA is $1,350, with a year-over-year rent change of -42.6%. Per bedroom, the median rent as of July '25 in Blakes, VA is 2-bedrooms: $1,350. The most common rental property sizes in Blakes, VA are 3-bedroom and 1-bedroom, accounting for 40.6% and 33.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,350 | $1,350 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Blakes, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Blakes, VA is 39. This is a decrease of -11.0% 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 | $278,000 | -33.0% |
Listing Count | 9 | 33.0% |
| Listings as % of Homes | 0.5% | 33.0% |
Days on Market | 39 | -11.0% |
Demographics — Blakes, VA
As of the latest ACS Survey released in 2023, Blakes, VA has a population of 1,550, which has increased by 16.2% over the past 5 years. Blakes, VA is a moderately popular place for families, as children make up 16.3% of the population. The area has a moderately educated workforce, with 34.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,550 | 16.2% |
% Under 18 | 16.3% | -16.0% |
% Seniors | 25.9% | 19.4% |
% WFH | 16.8% | 300.0% |
% w/ College Degree | 34.0% | 211.9% |
As of the latest ACS Survey released in 2023, Blakes, VA is a predominantly white area, with 71.9% of the population identifying as white. The white population has shrunk by 11.2% in the last 5 years. The second most common race or ethnicity in Blakes, VA is black, making up 11.2% of the population. Foreign-born residents account for 8.3% of the population in Blakes, VA, and this percentage has increased by Inf% 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 | 71.9% | -11.2% |
% Black | 11.2% | 194.7% |
% Hispanic | 2.7% | -38.6% |
% Asian | 0.0% | N/A |
% Foreign Born | 8.3% | ∞% |
Mortgage and Risk — Blakes, VA
According to HUD data as of 2023, there were 67 mortgage originations in Blakes, VA, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Blakes, VA. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 67 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 1.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Blakes, VA
Blakes, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,190 |
| 2 Bedroom | $10 | $1,350 | $1,360 |
| 3 Bedroom | N/A | N/A | $1,890 |
| 4 Bedroom | N/A | N/A | $2,280 |
Affordability — Blakes, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $350,000 |
| Median Household Income | $80,300 |