Wakefield, VA 23888 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Wakefield, VA—23888

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$198,000

3.8% YoY Growth

Household Income

$69,100

83.7% YoY Growth

Days on Market

51.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$1,300

N/A

1-Bed Rent

$1,250

N/A

2-Bed Rent

N/A

3-Bed Rent

$1,300

N/A

Home Price Trends — Wakefield, VA

Wakefield, VA lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$198,000	-3.8%
Single Family	$198,000	-2.5%
Condos	N/A	N/A

Cost per Home Size

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

Rental Trends — Wakefield, VA

Wakefield, VA lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$1,300	$1,350
Studio Rent	N/A	N/A
1 Bed Rent	$1,250	$1,250
2 Bed Rent	N/A	N/A
3 Bed Rent	$1,300	$1,400
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

11.5%

2 Bedrooms

38.8%

3 Bedrooms

41.8%

4 Bedrooms

7.9%

Property Listings — Wakefield, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Wakefield, VA is 94. This is a increase of 51.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$435,000	-12.0%
Listing Count	15	73.0%
Listings as % of Homes	0.5%	73.0%
Days on Market	94	51.0%

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Demographics — Wakefield, VA

As of the latest ACS Survey released in 2023, Wakefield, VA has a population of 2,560, which has increased by 20.9% over the past 5 years. Wakefield, VA is a moderately popular place for families, as children make up 18.5% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,560	20.9%
% Under 18	18.5%	-13.1%
% Seniors	19.8%	-14.3%
% WFH	10.0%	∞%
% w/ College Degree	19.4%	43.7%

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As of the latest ACS Survey released in 2023, Wakefield, VA is a predominantly black area, with 48.0% of the population identifying as black. The black population has grown by 46.8% in the last 5 years. The second most common race or ethnicity in Wakefield, VA is white, making up 47.2% of the population. Foreign-born residents account for 1.5% of the population in Wakefield, VA, and this percentage has increased by 66.7% 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	47.2%	-24.8%
% Black	48.0%	46.8%
% Hispanic	0.2%	-89.5%
% Asian	1.2%	∞%
% Foreign Born	1.5%	66.7%

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Mortgage and Risk — Wakefield, VA

According to HUD data as of 2023, there were 31 mortgage originations in Wakefield, VA, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Wakefield, VA. Investor activity is low, as 0.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	31
% Conventional Loans	58.0%
% Government Loans	42.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Wakefield, VA

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

Section 8 Market Size

Total Units under HUD	34
Total Units Section 8	34
% Rentals under Section 8	9.5%
% Occupied Section 8	88.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$110	$1,250	$1,140
2 Bedroom	N/A	N/A	$1,290
3 Bedroom	$340	$1,300	$1,640
4 Bedroom	N/A	N/A	$2,040

Wakefield, VA—23888

Key Metrics at a Glance

Home Price Trends — Wakefield, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wakefield, VA

% of Rental Stock

Property Listings — Wakefield, VA

Demographics — Wakefield, VA

Race and Ethnicity

Mortgage and Risk — Wakefield, VA

Mortgages

Rentals and Section 8 — Wakefield, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Wakefield, VA

Home Price to Income Ratio

Wakefield, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Ivor, VA

Ivor, VA

Dendron, VA

Waverly, VA

Zuni, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.7
Median Home Price	$198,000
Median Household Income	$69,100

Wakefield, VA—23888

Key Metrics at a Glance

Home Price Trends — Wakefield, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wakefield, VA

% of Rental Stock

Property Listings — Wakefield, VA

Demographics — Wakefield, VA

Race and Ethnicity

Mortgage and Risk — Wakefield, VA

Mortgages

Rentals and Section 8 — Wakefield, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Wakefield, VA

Home Price to Income Ratio

Wakefield, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Ivor, VA

Ivor, VA

Dendron, VA

Waverly, VA

Zuni, VA

Frequently Asked Questions

What is the average home price in Wakefield, VA 23888?

How have home prices in Wakefield, VA 23888 changed over the past year?

What is the home price projection for Wakefield, VA 23888?

What are the demographics of Wakefield, VA 23888?

How long does it take homes to sell in Wakefield, VA 23888?

What is the average rent price in Wakefield, VA 23888?