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 467 people, 245 houses or apartments, and a median cost of homes of $276,420, Troutville real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Troutville, accounting for 70.37% of the town's housing units. Other types of housing that are prevalent in Troutville include row houses and other attached homes ( 19.53%), duplexes, homes converted to apartments or other small apartment buildings ( 6.06%), and a few mobile homes or trailers ( 4.04%).
The most prevalent building size and type in Troutville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.78% owning and 41.22% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Troutville's housing was primarily built during this period, from the '40s through the '60s. A full 34.68% of the town's housing hails from this era. Other housing ages represented in Troutville include homes built between 1970-1999 ( 34.34%) and housing constructed between 2000 and later ( 16.84%). There's also some housing in Troutville built before 1939 ( 14.14%).
Vacant housing appears to be an issue in Troutville. Fully 17.51% of the housing stock is classified as vacant. Left unchecked, vacant Troutville homes and apartments can be a drag on the real estate market, holding Troutville 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.
Troutville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Troutville during the period has been just 5.13%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Troutville's appreciation rate, at 6.47%, has been at or slightly above the national average. In the latest quarter, Troutville's appreciation rate has been 3.42%, which annualizes to a rate of 14.40%.
Importantly, this makes Troutville 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 Troutville's latest annual appreciation rate is lower than 50% of the other cities and towns in Virginia.
$276,420
for Virginia
for nation
245
$1,735 / per month