Centreville, VA Real Estate Market
Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Centreville, VA Housing Market Trends
With a population of 73,518, 24,950 total housing units (homes and apartments), and a median house value of $668,958, Centreville house prices are not only among the most expensive in Virginia, Centreville real estate also is some of the most expensive in all of America.
Row houses and other attached homes are the single most common housing type in Centreville, accounting for 45.83% of the town's housing units. Other types of housing that are prevalent in Centreville include single-family detached homes ( 33.58%), large apartment complexes or high rise apartments ( 18.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.28%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.
Owner-occupied, three and four bedroom dwellings, primarily in row houses and other attached homes are the most prevalent type of housing you will see in Centreville. Owner-occupied housing accounts for 73.58% of Centreville's homes, and 63.33% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Centreville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Centreville built between 2000 and later ( 18.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.78%).
Centreville Home Appreciation Rates
Centreville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Centreville during the period has been just 4.61%, which is lower than 80% of US communities.
Over the last year, Centreville appreciation rates have trailed the rest of the nation. In the last twelve months, Centreville's appreciation rate has been 4.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Centreville were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Centreville one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Centreville's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Centreville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Centreville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Centreville real estate investment or home purchase decisions.
Median Home Value
$668,958
Very High
for Virginia
Very High
for nation
Number of Homes And Apartments:
24,950
VA
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$3,039 / per month