Isle of Wight County, Virginia Housing Market
In Isle of Wight County, Virginia, the median home value is $356,500, with a median monthly rent of $1,359. This places Isle of Wight County at #394 nationally out of 3134 counties by median home value, and #36 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: $1,260
- Establishments: 884
- BLS QCEW, 2025
Housing Supply
- Single-family: 277
- Multi-family: 26
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 16,674 (avg $91,731)
- Outflow: 15,265 (avg $92,559)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Isle of Wight County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 23851 | 244.6 | +14.39% | 2025 |
| 2 | 23314 | 276.3 | +1.41% | 2025 |
| 3 | 23898 | 269.6 | — | 2025 |
| 4 | 23430 | 257.5 | +4.90% | 2025 |
| 5 | 23487 | 261.4 | +9.01% | 2025 |
| 6 | 23315 | 253.4 | -9.28% | 2023 |
| 7 | 23866 | 257.2 | — | 2024 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Isle of Wight County Compares
| Metric | Isle of Wight County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $356,500 | $295,807 | $227,706 |
| Median Gross Rent | $1,359 | $1,169 | $968 |
| Owner Occupancy Rate | 80.1% | 70.8% | 73.3% |
| Price/Rent Ratio | 21.9 | 20.3 | 18.7 |
Market Analysis
The median home value in Isle of Wight County is 20.5% above the Virginia state average and 56.6% above the U.S. national average. The median rent of $1,359/month is 16.3% above the state average.
With a price-to-rent ratio of 21.9, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Isle of Wight County has an owner-occupancy rate of 80.1%, 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 |
|---|---|---|---|
| Llano County | Texas | $356,500 | $998 |
| Livingston County | Michigan | $356,800 | $1,287 |
| Maury County | Tennessee | $355,700 | $1,300 |
| Dallas County | Iowa | $355,600 | $1,311 |
| Coweta County | Georgia | $357,500 | $1,488 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Henrico County | $359,200 | $1,541 | 64.5% |
| Richmond city | $353,000 | $1,372 | 43.5% |
| Middlesex County | $352,200 | $1,059 | 87.4% |
| Mathews County | $360,900 | $1,032 | 84.0% |
| Orange County | $364,200 | $1,205 | 78.7% |
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).