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 33,768, 11,093 total housing units (homes and apartments), and a median house value of $467,942, Spotsylvania real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Spotsylvania, accounting for 89.38% of the town's housing units. Other types of housing that are prevalent in Spotsylvania include large apartment complexes or high rise apartments ( 4.58%), row houses and other attached homes ( 3.36%), and a few mobile homes or trailers ( 2.28%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spotsylvania. Owner-occupied housing accounts for 88.51% of Spotsylvania's homes, and 78.69% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Spotsylvania built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Spotsylvania built between 2000 and later ( 38.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.91%). There's also some housing in Spotsylvania built before 1939 ( 1.73%).
Real estate appreciation rates in Spotsylvania's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.83% during the period.
Over the last year, Spotsylvania appreciation rates have trailed the rest of the nation. In the last twelve months, Spotsylvania's appreciation rate has been 4.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Spotsylvania were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Spotsylvania one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Spotsylvania's latest annual appreciation rate is lower than 70% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Spotsylvania differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Spotsylvania - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Spotsylvania real estate investment or home purchase decisions.
$467,942
for Virginia
for nation
11,093
$1,810 / per month