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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 16,738, 5,467 total housing units (homes and apartments), and a median house value of $320,840, Radford real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Radford, accounting for 51.74% of the city's housing units. Other types of housing that are prevalent in Radford include large apartment complexes or high rise apartments ( 34.06%), duplexes, homes converted to apartments or other small apartment buildings ( 9.13%), and a few row houses and other attached homes ( 3.71%).
The most prevalent building size and type in Radford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 37.17% owning and 62.83% renting.
There is a lot of housing in Radford 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 Radford built between 1940-1969 ( 30.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.73%). There's also some housing in Radford built before 1939 ( 12.09%).
Vacant housing appears to be an issue in Radford. Fully 15.24% of the housing stock is classified as vacant. Left unchecked, vacant Radford homes and apartments can be a drag on the real estate market, holding Radford real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Radford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Radford during the period has been just 5.12%, which is lower than 80% of US communities.
Over the last year, Radford appreciation rates have trailed the rest of the nation. In the last twelve months, Radford's appreciation rate has been 3.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Radford were at 1.24%, which equates to an annual appreciation rate of 5.04%.
Relative to Virginia, our data show that Radford'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 city. Individual neighborhoods within Radford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Radford - 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 Radford real estate investment or home purchase decisions.
$320,840
for Virginia
for nation
5,467
$1,264 / per month