Cumberland, VA 23040 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Cumberland, VA—23040

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$267,000

2.5% YoY Growth

Household Income

$55,000

14.8% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$1,300

0.0% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$1,300

0.0% YoY Growth

Home Price Trends — Cumberland, VA

Cumberland, VA lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$267,000	2.5%
Single Family	$267,000	3.1%
Condos	N/A	N/A

Cost per Home Size

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

Rental Trends — Cumberland, VA

As of July '25, Rentcast reports the average rent in Cumberland, VA is $1,300, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Cumberland, VA is 3-bedrooms: $1,300. The most common rental property sizes in Cumberland, VA are 3-bedroom and 2-bedroom, accounting for 78.9% and 16.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,300	$1,300
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$1,300	$1,300
4 Bed Rent	N/A	N/A

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% of Rental Stock

2 Bedrooms

16.0%

3 Bedrooms

78.9%

4 Bedrooms

5.1%

Property Listings — Cumberland, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Cumberland, VA is 50. This is a increase of 25.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$385,000	4.0%
Listing Count	24	37.0%
Listings as % of Homes	1.1%	37.0%
Days on Market	50	25.0%

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Demographics — Cumberland, VA

As of the latest ACS Survey released in 2023, Cumberland, VA has a population of 4,490, which has increased by 1.1% over the past 5 years. Cumberland, VA is a moderately popular place for families, as children make up 17.7% of the population. The area has a poorly educated workforce, with 10.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	4,490	1.1%
% Under 18	17.7%	-19.5%
% Seniors	23.4%	36.0%
% WFH	5.0%	-19.4%
% w/ College Degree	10.4%	-22.4%

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As of the latest ACS Survey released in 2023, Cumberland, VA is a predominantly white area, with 58.8% of the population identifying as white. The white population has grown by 1.6% in the last 5 years. The second most common race or ethnicity in Cumberland, VA is black, making up 39.0% of the population. Foreign-born residents account for 0.9% of the population in Cumberland, VA, and this percentage has decreased by 25.0% 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	58.8%	1.6%
% Black	39.0%	1.3%
% Hispanic	0.5%	∞%
% Asian	0.0%	-100.0%
% Foreign Born	0.9%	-25.0%

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Mortgage and Risk — Cumberland, VA

According to HUD data as of 2023, there were 61 mortgage originations in Cumberland, VA, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Cumberland, VA. Investor activity is low, as 7.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	61
% Conventional Loans	57.0%
% Government Loans	43.0%
% Investor Loans	7.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Cumberland, VA

Cumberland, VA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	8
Total Units Section 8	8
% Rentals under Section 8	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$780
2 Bedroom	N/A	N/A	$910
3 Bedroom	-$170	$1,300	$1,130
4 Bedroom	N/A	N/A	$1,540

Cumberland, VA—23040

Key Metrics at a Glance

Home Price Trends — Cumberland, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Cumberland, VA

% of Rental Stock

Property Listings — Cumberland, VA

Demographics — Cumberland, VA

Race and Ethnicity

Mortgage and Risk — Cumberland, VA

Mortgages

Rentals and Section 8 — Cumberland, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Cumberland, VA

Home Price to Income Ratio

Cumberland, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Bremo Bluff, VA

Cartersville, VA

Farmville, VA

Bremo Bluff, VA

Dillwyn, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.3
Median Home Price	$267,000
Median Household Income	$55,000

Cumberland, VA—23040

Key Metrics at a Glance

Home Price Trends — Cumberland, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Cumberland, VA

% of Rental Stock

Property Listings — Cumberland, VA

Demographics — Cumberland, VA

Race and Ethnicity

Mortgage and Risk — Cumberland, VA

Mortgages

Rentals and Section 8 — Cumberland, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Cumberland, VA

Home Price to Income Ratio

Cumberland, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Bremo Bluff, VA

Cartersville, VA

Farmville, VA

Bremo Bluff, VA

Dillwyn, VA

Frequently Asked Questions

What is the average home price in Cumberland, VA 23040?

How have home prices in Cumberland, VA 23040 changed over the past year?

What is the home price projection for Cumberland, VA 23040?

What are the demographics of Cumberland, VA 23040?

How long does it take homes to sell in Cumberland, VA 23040?

What is the average rent price in Cumberland, VA 23040?