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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Blue Ridge, VA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Blue Ridge, VA Housing Market Trends

With a population of 3,185, 1,111 total housing units (homes and apartments), and a median house value of $361,881, Blue Ridge real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Blue Ridge, accounting for 95.53% of the town's housing units. Other types of housing that are prevalent in Blue Ridge include mobile homes or trailers ( 4.47%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Blue Ridge. Owner-occupied housing accounts for 94.60% of Blue Ridge's homes, and 82.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Blue Ridge 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 Blue Ridge built between 1940-1969 ( 23.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.00%). There's also some housing in Blue Ridge built before 1939 ( 6.14%).

Vacant housing appears to be an issue in Blue Ridge. Fully 11.40% of the housing stock is classified as vacant. Left unchecked, vacant Blue Ridge homes and apartments can be a drag on the real estate market, holding Blue Ridge 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.

Blue Ridge Home Appreciation Rates

Real estate appreciation rates in Blue Ridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.96% during the period.

NeighborhoodScout's data show that during the latest twelve months, Blue Ridge's appreciation rate, at 7.29%, has been at or slightly above the national average. In the latest quarter, Blue Ridge's appreciation rate has been 3.42%, which annualizes to a rate of 14.40%.

Importantly, this makes Blue Ridge 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 Blue Ridge's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.

Average Home Values

Median Home Value

$361,881

Blue Ridge, VA Home Prices
> $1,410,000
$1,057,001 - $1,410,000
$705,001 - $1,057,000
$564,001 - $705,000
$423,001 - $564,000
$282,001 - $423,000
$141,001 - $282,000
$70,001 - $141,000
$0 - $70,000
1.7%
1.7%
4.7%
4.7%
1.5%
1.5%
6.3%
6.3%
12.0%
12.0%
53.8%
53.8%
15.0%
15.0%
2.9%
2.9%
2.2%
2.2%
0% 100.0%
% of Homes
Average

for Virginia

High

for nation

Number of Homes And Apartments:

1,111

Blue Ridge Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,151 / per month

Homeownership Rate

Owners
Renters
94.6%
94.6%
5.4%
5.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.4%
11.4%
88.6%
88.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.0%
13.0%
57.6%
57.6%
23.3%
23.3%
6.1%
6.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
95.5%
95.5%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
4.5%
4.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.3%
1.3%
13.8%
13.8%
40.2%
40.2%
42.5%
42.5%
2.2%
2.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Blue Ridge

Zip Codes in Blue Ridge, VA