Charlottesville city, Virginia Housing Market
In Charlottesville city, Virginia, the median home value is $486,700, with a median monthly rent of $1,540. This places Charlottesville city at #147 nationally out of 3134 counties by median home value, and #13 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,446
- Establishments: 2,470
- BLS QCEW, 2025
Housing Supply
- Single-family: 53
- Multi-family: 836
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 17,238 (avg $131,006)
- Outflow: 15,768 (avg $134,265)
- IRS Statistics of Income
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| Metric | Charlottesville city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $486,700 | $295,807 | $227,706 |
| Median Gross Rent | $1,540 | $1,169 | $968 |
| Owner Occupancy Rate | 44.2% | 70.8% | 73.3% |
| Price/Rent Ratio | 26.3 | 20.3 | 18.7 |
Market Analysis
The median home value in Charlottesville city is 64.5% above the Virginia state average and 113.7% above the U.S. national average. The median rent of $1,540/month is 31.7% above the state average.
With a price-to-rent ratio of 26.3, Charlottesville city is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Charlottesville city has an owner-occupancy rate of 44.2%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Chester County | Pennsylvania | $485,600 | $1,763 |
| Bonner County | Idaho | $487,900 | $1,122 |
| Stafford County | Virginia | $485,100 | $2,020 |
| Charleston County | South Carolina | $489,100 | $1,620 |
| Adams County | Colorado | $484,200 | $1,781 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Stafford County | $485,100 | $2,020 | 80.5% |
| Fredericksburg city | $483,700 | $1,619 | 39.7% |
| Albemarle County | $495,400 | $1,692 | 65.9% |
| Goochland County | $500,600 | $1,614 | 84.9% |
| Rappahannock County | $506,400 | $1,290 | 73.4% |
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).