Patrick County, Virginia Housing Market
In Patrick County, Virginia, the median home value is $153,400, with a median monthly rent of $716. This places Patrick County at #2173 nationally out of 3134 counties by median home value, and #111 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: $788
- Establishments: 450
- BLS QCEW, 2025
Housing Supply
- Single-family: 34
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,678 (avg $58,994)
- Outflow: 6,255 (avg $59,008)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Patrick County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 24171 | 233.7 | -10.73% | 2025 |
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.
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Patrick County, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Patrick County →How Patrick County Compares
| Metric | Patrick County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $153,400 | $295,807 | $227,706 |
| Median Gross Rent | $716 | $1,169 | $968 |
| Owner Occupancy Rate | 76.9% | 70.8% | 73.3% |
| Price/Rent Ratio | 17.9 | 20.3 | 18.7 |
Market Analysis
The median home value in Patrick County is 48.1% below the Virginia state average and 32.6% below the U.S. national average. The median rent of $716/month is 38.8% below the state average.
With a price-to-rent ratio of 17.9, the buy-vs-rent decision in Patrick County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Patrick County has an owner-occupancy rate of 76.9%, 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 |
|---|---|---|---|
| Pierce County | Georgia | $153,300 | $799 |
| Dickinson County | Michigan | $153,300 | $797 |
| Hardee County | Florida | $153,600 | $962 |
| Greene County | Indiana | $153,200 | $797 |
| Muskogee County | Oklahoma | $153,200 | $849 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Bland County | $152,100 | $644 | 86.5% |
| Halifax County | $155,700 | $790 | 74.6% |
| Giles County | $151,100 | $789 | 78.9% |
| Buena Vista city | $156,200 | $1,112 | 56.5% |
| Carroll County | $156,500 | $738 | 77.1% |
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).