Madison Heights, VA—24572
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Madison Heights, VA
As of Nov '25, the median home price in Madison Heights, VA is $238,000, with a year-over-year change of -1.2%. This indicates that home prices in Madison Heights, VA are decreasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $238,000 | -1.2% |
| Single Family | $238,000 | -1.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $125,000 | -5.3% |
2 Bed | $166,000 | -3.5% |
3 Bed | $251,000 | -1.2% |
4 Bed | $302,000 | 0.0% |
| 5 Bed | $330,372 | -3.0% |
% of Housing Stock
Rental Trends — Madison Heights, VA
As of July '25, Rentcast reports the average rent in Madison Heights, VA is $1,000, with a year-over-year rent change of -12.3%. Per bedroom, the median rent as of July '25 in Madison Heights, VA is studios: $795, 1-bedrooms: $797, 2-bedrooms: $1,050, 3-bedrooms: $1,250. The most common rental property sizes in Madison Heights, VA are 2-bedroom and 3-bedroom, accounting for 42.8% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $995 | $1,000 |
| Studio Rent | $795 | $795 |
| 1 Bed Rent | $750 | $797 |
| 2 Bed Rent | $1,050 | $1,050 |
| 3 Bed Rent | $1,250 | $1,250 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Madison Heights, VA
As of Nov '25, Realtor.com reports that the median days on market for a home in Madison Heights, VA is 42. This is a decrease of -14.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $325,000 | 6.0% |
Listing Count | 54 | -14.0% |
| Listings as % of Homes | 0.4% | -14.0% |
Days on Market | 42 | -14.0% |
Demographics — Madison Heights, VA
As of the latest ACS Survey released in 2023, Madison Heights, VA has a population of 15,500, which has decreased by -7.1% over the past 5 years. Madison Heights, VA is a moderately popular place for families, as children make up 19.4% of the population. The area has a poorly educated workforce, with 18.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,500 | -7.1% |
% Under 18 | 19.4% | -12.2% |
% Seniors | 21.5% | 17.5% |
% WFH | 8.4% | 394.1% |
% w/ College Degree | 18.3% | -1.6% |
As of the latest ACS Survey released in 2023, Madison Heights, VA is a predominantly white area, with 69.5% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Madison Heights, VA is black, making up 21.3% of the population. Foreign-born residents account for 1.0% of the population in Madison Heights, VA, and this percentage has decreased by 23.1% 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 | 69.5% | -1.8% |
% Black | 21.3% | -1.4% |
% Hispanic | 3.4% | 88.9% |
% Asian | 1.0% | 100.0% |
% Foreign Born | 1.0% | -23.1% |
Mortgage and Risk — Madison Heights, VA
According to HUD data as of 2023, there were 367 mortgage originations in Madison Heights, VA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Madison Heights, VA. Investor activity is low, as 4.0% 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 | 367 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Rentals and Section 8 — Madison Heights, VA
Madison Heights, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 58 |
Total Units Section 8 | 58 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $750 | $890 |
| 2 Bedroom | -$40 | $1,050 | $1,010 |
| 3 Bedroom | $140 | $1,250 | $1,390 |
| 4 Bedroom | N/A | N/A | $1,500 |
Affordability — Madison Heights, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $238,000 |
| Median Household Income | $64,200 |