Lee County, Virginia Housing Market
In Lee County, Virginia, the median home value is $98,900, with a median monthly rent of $738. This places Lee County at #2931 nationally out of 3134 counties by median home value, and #130 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: $804
- Establishments: 468
- BLS QCEW, 2025
Housing Supply
- Single-family: 16
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,876 (avg $47,551)
- Outflow: 6,475 (avg $47,868)
- IRS Statistics of Income
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💰 Mortgage Guide → 🧾 Property Tax Data →How Lee County Compares
| Metric | Lee County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $98,900 | $295,807 | $227,706 |
| Median Gross Rent | $738 | $1,169 | $968 |
| Owner Occupancy Rate | 73.0% | 70.8% | 73.3% |
| Price/Rent Ratio | 11.2 | 20.3 | 18.7 |
Market Analysis
The median home value in Lee County is 66.6% below the Virginia state average and 56.6% below the U.S. national average. The median rent of $738/month is 36.9% below the state average.
With a price-to-rent ratio of 11.2, buying a home in Lee 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.
Lee County has an owner-occupancy rate of 73.0%, 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 |
|---|---|---|---|
| Lawrence County | Arkansas | $98,900 | $697 |
| Wilcox County | Alabama | $98,800 | $745 |
| Refugio County | Texas | $99,000 | $795 |
| Zavala County | Texas | $98,800 | $548 |
| Lawrence County | Illinois | $99,100 | $836 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Martinsville city | $98,400 | $808 | 55.4% |
| Dickenson County | $102,700 | $738 | 76.1% |
| Buchanan County | $94,900 | $743 | 83.1% |
| Norton city | $110,000 | $692 | 50.0% |
| Covington city | $83,500 | $794 | 70.1% |
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).