Bassett, VA—24055
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bassett, VA
As of Oct '25, the median home price in Bassett, VA is $120,000, with a year-over-year change of -5.4%. This indicates that home prices in Bassett, VA are decreasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $120,000 | -5.4% |
| Single Family | $120,000 | -5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $128,000 | 5.8% |
3 Bed | $189,000 | 5.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Bassett, VA
As of July '25, Rentcast reports the average rent in Bassett, VA is $681, with a year-over-year rent change of 3.5%. Per bedroom, the median rent as of July '25 in Bassett, VA is studios: $595, 1-bedrooms: $596, 2-bedrooms: $790. The most common rental property sizes in Bassett, VA are 2-bedroom and 3-bedroom, accounting for 38.1% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $595 | $681 |
| Studio Rent | $595 | $595 |
| 1 Bed Rent | $595 | $596 |
| 2 Bed Rent | $750 | $790 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Bassett, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bassett, VA is 65. This is a decrease of -13.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $214,000 | 7.0% |
Listing Count | 47 | 5.0% |
| Listings as % of Homes | 0.4% | 5.0% |
Days on Market | 65 | -13.0% |
Demographics — Bassett, VA
As of the latest ACS Survey released in 2023, Bassett, VA has a population of 11,500, which has decreased by -14.2% over the past 5 years. Bassett, VA is a moderately popular place for families, as children make up 18.6% of the population. The area has a poorly educated workforce, with 14.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,500 | -14.2% |
% Under 18 | 18.6% | -7.9% |
% Seniors | 27.6% | 20.0% |
% WFH | 9.0% | 233.3% |
% w/ College Degree | 14.6% | 15.0% |
As of the latest ACS Survey released in 2023, Bassett, VA is a predominantly white area, with 79.4% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Bassett, VA is black, making up 13.8% of the population. Foreign-born residents account for 1.2% of the population in Bassett, VA, and this percentage has decreased by 57.1% 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 | 79.4% | -2.8% |
% Black | 13.8% | 19.0% |
% Hispanic | 5.5% | 1.9% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 1.2% | -57.1% |
Mortgage and Risk — Bassett, VA
According to HUD data as of 2023, there were 189 mortgage originations in Bassett, VA, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Bassett, VA. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 189 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Bassett, VA
Bassett, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $105 | $595 | $700 |
| 2 Bedroom | $100 | $750 | $850 |
| 3 Bedroom | N/A | N/A | $1,060 |
| 4 Bedroom | N/A | N/A | $1,250 |
Affordability — Bassett, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $120,000 |
| Median Household Income | $41,700 |