Colonial Heights, VA—23834
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Colonial Heights, VA
As of Oct '25, the median home price in Colonial Heights, VA is $291,000, with a year-over-year change of 0.5%. This indicates that home prices in Colonial Heights, VA are flat. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $291,000 | 0.5% |
| Single Family | $291,000 | 0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $204,000 | -1.4% |
3 Bed | $276,000 | 0.4% |
4 Bed | $345,000 | 1.8% |
| 5 Bed | $441,000 | 2.8% |
% of Housing Stock
Rental Trends — Colonial Heights, VA
As of July '25, Rentcast reports the average rent in Colonial Heights, VA is $1,730, with a year-over-year rent change of 1.2%. Per bedroom, the median rent as of July '25 in Colonial Heights, VA is studios: $2,580, 1-bedrooms: $826, 2-bedrooms: $1,310, 3-bedrooms: $1,900, 4-bedrooms: $2,150. The most common rental property sizes in Colonial Heights, VA are 2-bedroom and 3-bedroom, accounting for 55.2% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,790 | $1,730 |
| Studio Rent | $2,580 | $2,580 |
| 1 Bed Rent | $707 | $826 |
| 2 Bed Rent | $1,250 | $1,310 |
| 3 Bed Rent | $1,900 | $1,900 |
| 4 Bed Rent | $2,150 | $2,150 |
% of Rental Stock
Property Listings — Colonial Heights, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Colonial Heights, VA is 40. This is a increase of 8.0% 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 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | 4.0% |
Listing Count | 83 | -2.0% |
| Listings as % of Homes | 0.5% | -2.0% |
Days on Market | 40 | 8.0% |
Demographics — Colonial Heights, VA
As of the latest ACS Survey released in 2023, Colonial Heights, VA has a population of 26,800, which has increased by 7.8% over the past 5 years. Colonial Heights, VA is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,800 | 7.8% |
% Under 18 | 22.3% | -0.9% |
% Seniors | 17.6% | -5.4% |
% WFH | 9.3% | 389.5% |
% w/ College Degree | 29.3% | 24.7% |
As of the latest ACS Survey released in 2023, Colonial Heights, VA is a predominantly white area, with 62.9% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Colonial Heights, VA is black, making up 23.6% of the population. Foreign-born residents account for 6.6% of the population in Colonial Heights, VA, and this percentage has decreased by 5.7% 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 | 62.9% | -6.3% |
% Black | 23.6% | 18.0% |
% Hispanic | 8.2% | 18.8% |
% Asian | 3.3% | 10.0% |
% Foreign Born | 6.6% | -5.7% |
Mortgage and Risk — Colonial Heights, VA
According to HUD data as of 2023, there were 330 mortgage originations in Colonial Heights, VA, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Colonial Heights, VA. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 330 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Colonial Heights, VA
As of 2024, the percent of homes in Colonial Heights, VA under the Section 8 program is 15.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Colonial Heights, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 454 |
Total Units Section 8 | 454 |
% Rentals under Section 8 | 15.1% |
% Occupied Section 8 | 85.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $703 | $707 | $1,410 |
| 2 Bedroom | $310 | $1,250 | $1,560 |
| 3 Bedroom | $80 | $1,900 | $1,980 |
| 4 Bedroom | $290 | $2,150 | $2,440 |
Affordability — Colonial Heights, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $291,000 |
| Median Household Income | $82,300 |