Petersburg city, Virginia Housing Market
In Petersburg city, Virginia, the median home value is $189,000, with a median monthly rent of $1,174. This places Petersburg city at #1531 nationally out of 3134 counties by median home value, and #99 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: $1,026
- Establishments: 958
- BLS QCEW, 2025
Housing Supply
- Single-family: 95
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 12,935 (avg $39,044)
- Outflow: 11,862 (avg $39,278)
- IRS Statistics of Income
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Petersburg city, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Petersburg city →How Petersburg city Compares
| Metric | Petersburg city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $189,000 | $295,807 | $227,706 |
| Median Gross Rent | $1,174 | $1,169 | $968 |
| Owner Occupancy Rate | 38.6% | 70.8% | 73.3% |
| Price/Rent Ratio | 13.4 | 20.3 | 18.7 |
Market Analysis
The median home value in Petersburg city is 36.1% below the Virginia state average and 17.0% below the U.S. national average. The median rent of $1,174/month is about equal to the state average.
With a price-to-rent ratio of 13.4, buying a home in Petersburg city 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.
Petersburg city has an owner-occupancy rate of 38.6%, 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 |
|---|---|---|---|
| Craig County | Virginia | $189,000 | $713 |
| Boone County | Arkansas | $188,900 | $733 |
| Black Hawk County | Iowa | $188,900 | $989 |
| Kalkaska County | Michigan | $188,900 | $853 |
| Coos County | New Hampshire | $188,900 | $876 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Craig County | $189,000 | $713 | 83.7% |
| Roanoke city | $190,500 | $996 | 52.4% |
| Pulaski County | $191,700 | $813 | 73.4% |
| Mecklenburg County | $192,600 | $823 | 68.3% |
| Bristol city | $184,100 | $801 | 63.6% |
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).