Buchanan County, Virginia Housing Market
In Buchanan County, Virginia, the median home value is $94,900, with a median monthly rent of $743. This places Buchanan County at #2980 nationally out of 3134 counties by median home value, and #132 within Virginia.
📈 Price Trend (2017 → 2024)
ℹ️ FHFA HPI data is not available for this county due to limited mortgage transaction volume.
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,312
- Establishments: 470
- BLS QCEW, 2025
Housing Supply
- Single-family: 12
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,079 (avg $51,741)
- Outflow: 5,880 (avg $52,738)
- IRS Statistics of Income
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💰 Mortgage Guide → 🧾 Property Tax Data →How Buchanan County Compares
| Metric | Buchanan County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $94,900 | $295,807 | $227,706 |
| Median Gross Rent | $743 | $1,169 | $968 |
| Owner Occupancy Rate | 83.1% | 70.8% | 73.3% |
| Price/Rent Ratio | 10.6 | 20.3 | 18.7 |
Market Analysis
The median home value in Buchanan County is 67.9% below the Virginia state average and 58.3% below the U.S. national average. The median rent of $743/month is 36.4% below the state average.
With a price-to-rent ratio of 10.6, buying a home in Buchanan County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Buchanan County has an owner-occupancy rate of 83.1%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Johnson County | Georgia | $94,900 | $647 |
| Bradley County | Arkansas | $94,800 | $689 |
| Castro County | Texas | $95,000 | $896 |
| Emanuel County | Georgia | $94,700 | $783 |
| Starr County | Texas | $95,100 | $726 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Martinsville city | $98,400 | $808 | 55.4% |
| Lee County | $98,900 | $738 | 73.0% |
| Dickenson County | $102,700 | $738 | 76.1% |
| Covington city | $83,500 | $794 | 70.1% |
| Norton city | $110,000 | $692 | 50.0% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).