Wise County, Virginia Housing Market
In Wise County, Virginia, the median home value is $118,600, with a median monthly rent of $790. This places Wise County at #2662 nationally out of 3134 counties by median home value, and #126 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: $853
- Establishments: 710
- BLS QCEW, 2025
Housing Supply
- Single-family: 37
- Multi-family: 8
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 11,791 (avg $51,801)
- Outflow: 11,152 (avg $52,765)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Wise County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 24293 | 165.2 | — | 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.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Wise County Compares
| Metric | Wise County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $118,600 | $295,807 | $227,706 |
| Median Gross Rent | $790 | $1,169 | $968 |
| Owner Occupancy Rate | 74.2% | 70.8% | 73.3% |
| Price/Rent Ratio | 12.5 | 20.3 | 18.7 |
Market Analysis
The median home value in Wise County is 59.9% below the Virginia state average and 47.9% below the U.S. national average. The median rent of $790/month is 32.4% below the state average.
With a price-to-rent ratio of 12.5, buying a home in Wise 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.
Wise County has an owner-occupancy rate of 74.2%, 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 |
|---|---|---|---|
| Keokuk County | Iowa | $118,700 | $828 |
| Caldwell County | Kentucky | $118,500 | $767 |
| Knox County | Kentucky | $118,700 | $681 |
| Terrell County | Georgia | $118,400 | $745 |
| Calhoun County | Iowa | $118,800 | $723 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Tazewell County | $118,300 | $795 | 74.4% |
| Danville city | $119,100 | $836 | 47.8% |
| Russell County | $120,600 | $653 | 76.3% |
| Alleghany County | $125,800 | $765 | 82.3% |
| Norton city | $110,000 | $692 | 50.0% |
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).