Housing Insights for ZIP Code 24472 (Raphine, VA)

Housing Summary for ZIP Code 24472

Homeowners

The median home value in ZIP Code 24472 (Raphine, VA) is $247,800. Approximately 61.1% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 0.0%.

The average occupancy of owner-occupied units in ZIP Code 24472 is 2.20 occupants, while owner-occupied units have an aggregate average size of 2.46 bedrooms per housing unit.

Renters

In the 24472 ZIP Code, an estimated 38.9% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 8.8%.

Among renter-occupied units in this ZIP, the average occupancy is 2.03 occupants, while renters in this Rockbridge County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 24472

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 24472.

ZIP 24472 Virginia U.S.
Median Home Value $247,800 $402,453 $365,011
Owner-Occupied Housing Units 61.1% 66.3% 64.0%
Homeowner Vacancy Rate 0.0% 1.5% 1.6%
Average Size of Owner-Occupied Unit 2.20 2.67 2.70
Average # of Bedrooms Per Unit 2.46 2.97 2.75
Median Housing Rent $0 $1,234 $1,062
Renter-Occupied Housing Units 38.9% 33.7% 36.0%
Rental Vacancy Rate 8.8% 5.4% 6.0%
Average Size of Renter-Occupied Unit 2.03 2.48 2.49
Percent of Income Spent on Rent 0% 29.45% 29.83%

Home Values in ZIP Code 24472 (Raphine, VA)

The median home value in ZIP Code 24472 is $247,800. That median value is about 9% lower than the median home value of $273,100 in Virginia overall, and is 14% higher than the $217,500 the median home value in the entire U.S. About 33.9% of homes in ZIP Code 24472 are valued $300,000 to $499,999. That is 38% higher than in Virginia, in which 24.6% of homes are valued at $300,000 to $499,999, and is about 76% higher than in the U.S. overall (19.3% of homes valued at $300,000 to $499,999). The home value range that the smallest portion of ZIP Code 24472 homes fall into is $1,000,000 or more (0.0% of homes).

Home Values in ZIP Code 24472

This chart visualizes the breakdown of home values in ZIP Code 24472, Virginia, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 24472 vs. home values in both the state of Virginia and in the U.S. overall.

Home Values in ZIP Code 24472

See the table below for a regional comparison of home values in ZIP Code 24472.

Home Value ZIP 24472 Virginia U.S.
Less than $50,000 7.4% 4.3% 6.9%
$50,000 to $99,999 2.5% 6.7% 12.0%
$100,000 to $149,999 11.9% 9.7% 13.3%
$150,000 to $199,999 17.4% 13.0% 14.0%
$200,000 to $299,999 22.7% 21.7% 19.6%
$300,000 to $499,999 33.9% 24.6% 19.3%
$500,000 to $999,999 4.3% 17.1% 11.4%
$1,000,000 or more 0.0% 2.9% 3.4%

Home Ages in ZIP Code 24472 (Raphine, VA)

Approximately 24.0% of homes in this Raphine, VA region were built in 1990 to 1999. This amount of homes built in 1990 to 1999 in ZIP Code 24472 is about 52% higher than percentage of homes built in this time period in Virginia overall (15.8% of homes), and is 73% higher the percentage (13.9% of homes) in the U.S. as a whole. Additionally, an esimated 17.5% of local homes were built in 1939 or earlier. On the other end of the scale, just 0.0% of homes in this Rockbridge County ZIP Code were built in 1940 to 1949 in ZIP Code 24472. In comparison, 4.4% of homes in Virginia overall were built in 1940 to 1949, while 4.9% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 24472

A detailed regional comparison of home ages in ZIP Code 24472.

Year Built ZIP 24472 Virginia U.S.
2014 or later 1.3% 2.6% 2.5%
2010 to 2013 13.8% 3.2% 2.7%
2000 to 2009 16.4% 15.2% 14.0%
1990 to 1999 24.0% 15.8% 13.9%
1980 to 1989 9.8% 16.4% 13.4%
1970 to 1979 9.2% 15.7% 15.2%
1960 to 1969 1.5% 10.6% 10.6%
1950 to 1959 6.5% 8.8% 10.3%
1940 to 1949 0.0% 4.4% 4.9%
1939 or earlier 17.5% 7.4% 12.6%

Age of Homes in ZIP Code 24472

See the chart below for details on the age of homes in ZIP Code 24472, Virginia, and also in the U.S. overall. Data here refers to years that homes were built.

">

Housing FAQs for ZIP Code 24472

Frequently asked questions about housing in this Raphine, VA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 24472.

1

What is the average home value ZIP Code 24472?

The median home value in ZIP Code 24472 (Raphine, VA) is $247,800.
2

Are homes expensive in ZIP Code 24472?

The median home value in 24472 ($247,800) is an estimated 9% lower than the aggregate median value of $273,100 in Virginia, and is 14% higher than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 24472?

The vacacy rate for owner-occupied housing in ZIP Code 24472 is 0.0%. This rate is 100% lower than the overall Virginia owner-occupied vacancy rate of 1.5%. Additionally, the 24472 vacancy rate is 100% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 24472 have older homes or newer construction?

In ZIP Code 24472, about 24.0% of homes were built in 1990 to 1999. That time range includes the most home construction. Also, 17.5% of homes in the region were built in 1939 or earlier. In contrast, 0.0% of homes in 24472 were built in 1940 to 1949.
5

What is the housing breakdown in ZIP Code 24472? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 24472 than renter-occupied housing. Owner-occupied units make up 61.1% of housing, compared to 38.9% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 24472?

The vacacy rate for rental units in ZIP Code 24472 is 8.8%. This rate is 63% higher than the overall Virginia vacancy rate of 5.4%. Additionally, the 24472 vacancy rate is 47% higher than the entire U.S. vacancy rate of 6.0%.