Norton, VA—24273
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norton, VA
As of Oct '25, the median home price in Norton, VA is $116,000, with a year-over-year change of 0.0%. This indicates that home prices in Norton, VA are flat. 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 | $116,000 | 0.0% |
| Single Family | $115,000 | -0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $80,000 | -3.6% |
3 Bed | $132,000 | 0.0% |
4 Bed | $187,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Norton, VA
Norton, 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 — Norton, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Norton, VA is 90. This is a increase of 31.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $157,000 | 3.0% |
Listing Count | 22 | -6.0% |
| Listings as % of Homes | 0.3% | -6.0% |
Days on Market | 90 | 31.0% |
Demographics — Norton, VA
As of the latest ACS Survey released in 2023, Norton, VA has a population of 5,860, which has decreased by -7.9% over the past 5 years. Norton, VA is a moderately popular place for families, as children make up 19.2% of the population. The area has a poorly educated workforce, with 13.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,860 | -7.9% |
% Under 18 | 19.2% | -9.9% |
% Seniors | 21.7% | 15.4% |
% WFH | 10.2% | 1,940.0% |
% w/ College Degree | 13.4% | 9.8% |
As of the latest ACS Survey released in 2023, Norton, VA is a predominantly white area, with 94.9% of the population identifying as white. The white population has grown by 1.9% in the last 5 years. The second most common race or ethnicity in Norton, VA is hispanic, making up 2.0% of the population. Foreign-born residents account for 0.6% of the population in Norton, VA, and this percentage has decreased by 64.7% 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 | 94.9% | 1.9% |
% Black | 0.8% | -72.4% |
% Hispanic | 2.0% | 185.7% |
% Asian | 0.1% | -95.2% |
% Foreign Born | 0.6% | -64.7% |
Mortgage and Risk — Norton, VA
According to HUD data as of 2023, there were 66 mortgage originations in Norton, VA, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Norton, VA. Investor activity is low, as 6.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 66 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Norton, VA
Norton, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 359 |
Total Units Section 8 | 141 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 92.0% |
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 | $910 |
| 3 Bedroom | N/A | N/A | $1,210 |
| 4 Bedroom | N/A | N/A | $1,530 |
Affordability — Norton, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $116,000 |
| Median Household Income | $39,800 |