Colonial Heights city, Virginia Housing Market
In Colonial Heights city, Virginia, the median home value is $246,600, with a median monthly rent of $1,234. This places Colonial Heights city at #916 nationally out of 3134 counties by median home value, and #72 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: $811
- Establishments: 706
- BLS QCEW, 2025
Housing Supply
- Single-family: 15
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 7,682 (avg $61,345)
- Outflow: 7,266 (avg $61,818)
- IRS Statistics of Income
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| Metric | Colonial Heights city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $246,600 | $295,807 | $227,706 |
| Median Gross Rent | $1,234 | $1,169 | $968 |
| Owner Occupancy Rate | 68.1% | 70.8% | 73.3% |
| Price/Rent Ratio | 16.7 | 20.3 | 18.7 |
Market Analysis
The median home value in Colonial Heights city is 16.6% below the Virginia state average and 8.3% above the U.S. national average. The median rent of $1,234/month is 5.6% above the state average.
With a price-to-rent ratio of 16.7, the buy-vs-rent decision in Colonial Heights city is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Colonial Heights city has an owner-occupancy rate of 68.1%, 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 |
|---|---|---|---|
| Lincoln County | Colorado | $246,500 | $868 |
| Logan County | Oklahoma | $246,700 | $891 |
| Buffalo County | Nebraska | $246,400 | $936 |
| Coffee County | Tennessee | $246,800 | $913 |
| Portsmouth city | Virginia | $246,900 | $1,300 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Portsmouth city | $246,900 | $1,300 | 57.9% |
| Hampton city | $245,700 | $1,427 | 56.9% |
| Waynesboro city | $245,500 | $1,020 | 59.9% |
| Rockbridge County | $248,800 | $925 | 79.3% |
| Charles City County | $241,400 | $1,099 | 86.3% |
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).