Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 449, 253 total housing units (homes and apartments), and a median house value of $343,168, Floyd real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Floyd, accounting for 75.72% of the town's housing units. Other types of housing that are prevalent in Floyd include large apartment complexes or high rise apartments ( 10.86%), duplexes, homes converted to apartments or other small apartment buildings ( 6.39%), and a few mobile homes or trailers ( 5.75%).
The most prevalent building size and type in Floyd are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.45% owning and 37.55% renting.
Vacant housing appears to be an issue in Floyd. Fully 19.17% of the housing stock is classified as vacant. Left unchecked, vacant Floyd homes and apartments can be a drag on the real estate market, holding Floyd real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Floyd have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.71%, which ranks in the top 40% nationwide. This equates to an annual average Floyd house appreciation rate of 7.00%.
Appreciation rates are so strong in Floyd that despite a nationwide downturn in the housing market, Floyd real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Floyd appreciation rates continue to be some of the highest in America, at 10.66%, which is higher than appreciation rates in 89.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Floyd. Floyd appreciation rates in the latest quarter were at 2.32%, which equates to an annual appreciation rate of 9.63%.
Relative to Virginia, our data show that Floyd's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.
$343,168
for Virginia
for nation
253
$1,100 / per month