Big Stone Gap, VA—24219
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Big Stone Gap, VA
As of Oct '25, the median home price in Big Stone Gap, VA is $137,000, with a year-over-year change of 2.4%. This indicates that home prices in Big Stone Gap, VA are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $137,000 | 2.4% |
| Single Family | $137,000 | 2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $82,000 | -1.2% |
3 Bed | $142,000 | 2.2% |
4 Bed | $220,000 | 5.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Big Stone Gap, VA
Big Stone Gap, VA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Big Stone Gap, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Big Stone Gap, VA is 88. This is a increase of 36.0% 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 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $242,000 | -13.0% |
Listing Count | 34 | 28.0% |
| Listings as % of Homes | 0.3% | 28.0% |
Days on Market | 88 | 36.0% |
Demographics — Big Stone Gap, VA
As of the latest ACS Survey released in 2023, Big Stone Gap, VA has a population of 10,400, which has decreased by -10.4% over the past 5 years. Big Stone Gap, VA is a moderately popular place for families, as children make up 18.1% of the population. The area has a poorly educated workforce, with 16.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,400 | -10.4% |
% Under 18 | 18.1% | -5.7% |
% Seniors | 19.9% | 23.6% |
% WFH | 4.4% | 76.0% |
% w/ College Degree | 16.2% | -14.7% |
As of the latest ACS Survey released in 2023, Big Stone Gap, VA is a predominantly white area, with 85.3% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Big Stone Gap, VA is black, making up 10.0% of the population. Foreign-born residents account for 0.9% of the population in Big Stone Gap, 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 | 85.3% | -3.4% |
% Black | 10.0% | 13.6% |
% Hispanic | 0.9% | -35.7% |
% Asian | 0.6% | 100.0% |
% Foreign Born | 0.9% | -25.0% |
Mortgage and Risk — Big Stone Gap, VA
According to HUD data as of 2023, there were 101 mortgage originations in Big Stone Gap, VA, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Big Stone Gap, VA. Investor activity is low, as 9.0% 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 | 101 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 9.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Big Stone Gap, VA
Big Stone Gap, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 449 |
Total Units Section 8 | 432 |
% Rentals under Section 8 | 37.8% |
% Occupied Section 8 | 80.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $700 |
| 2 Bedroom | N/A | N/A | $900 |
| 3 Bedroom | N/A | N/A | $1,190 |
| 4 Bedroom | N/A | N/A | $1,500 |
Affordability — Big Stone Gap, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $137,000 |
| Median Household Income | $52,300 |