Housing Insights for ZIP Code 24148 (Ridgeway, VA)

Housing Summary for ZIP Code 24148

Homeowners

The median home value in ZIP Code 24148 (Ridgeway, VA) is $111,000. Approximately 78.3% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 2.3%.

The average occupancy of owner-occupied units in ZIP Code 24148 is 2.47 occupants, while owner-occupied units have an aggregate average size of 2.84 bedrooms per housing unit.

Renters

In the 24148 ZIP Code, an estimated 21.7% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 2.7%.

Among renter-occupied units in this ZIP, the average occupancy is 2.24 occupants, while renters in this Henry County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 24148

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 24148.

ZIP 24148 Virginia U.S.
Median Home Value $111,000 $402,127 $364,385
Owner-Occupied Housing Units 78.3% 66.3% 64.0%
Homeowner Vacancy Rate 2.3% 1.5% 1.6%
Average Size of Owner-Occupied Unit 2.47 2.67 2.70
Average # of Bedrooms Per Unit 2.84 2.97 2.75
Median Housing Rent $0 $1,234 $1,062
Renter-Occupied Housing Units 21.7% 33.7% 36.0%
Rental Vacancy Rate 2.7% 5.4% 6.0%
Average Size of Renter-Occupied Unit 2.24 2.48 2.49
Percent of Income Spent on Rent 0% 29.45% 29.83%

Home Values in ZIP Code 24148 (Ridgeway, VA)

The median home value in ZIP Code 24148 is $111,000. That median value is about 59% lower than the median home value of $273,100 in Virginia overall, and is 49% lower than the $217,500 the median home value in the entire U.S. Approximately 27.8% of homes in ZIP Code 24148 are valued $50,000 to $99,999. That is 315% higher than in the state ofVirginia, where 6.7% of homes are valued at $50,000 to $99,999, and is about 132% higher than in the U.S. overall (12.0% of homes valued at $50,000 to $99,999). The home value range that the smallest portion of ZIP Code 24148 homes fall into is $1,000,000 or more (0.0% of homes).

Home Values in ZIP Code 24148

This chart visualizes the breakdown of home values in ZIP Code 24148, Virginia, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 24148 vs. home values in both the state of Virginia and in the U.S. overall.

Home Values in ZIP Code 24148

See the table below for a regional comparison of home values in ZIP Code 24148.

Home Value ZIP 24148 Virginia U.S.
Less than $50,000 17.6% 4.3% 6.9%
$50,000 to $99,999 27.8% 6.7% 12.0%
$100,000 to $149,999 19.9% 9.7% 13.3%
$150,000 to $199,999 19.5% 13.0% 14.0%
$200,000 to $299,999 11.8% 21.7% 19.6%
$300,000 to $499,999 2.4% 24.6% 19.3%
$500,000 to $999,999 1.1% 17.1% 11.4%
$1,000,000 or more 0.0% 2.9% 3.4%

Home Ages in ZIP Code 24148 (Ridgeway, VA)

Approximately 19.5% of homes in this Ridgeway, VA region were built in 1990 to 1999. This amount of homes built in 1990 to 1999 in ZIP Code 24148 is about 23% higher than percentage of homes built in this time period in Virginia overall (15.8% of homes), and is 40% higher the percentage (13.9% of homes) in the U.S. as a whole. Additionally, an esimated 18.1% of local homes were built in 1980 to 1989. On the other end of the scale, just 0.0% of homes in this Henry County ZIP Code were built in 2014 or later in ZIP Code 24148. In comparison, 2.6% of homes in Virginia overall were built in 2014 or later, while 2.5% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 24148

A detailed regional comparison of home ages in ZIP Code 24148.

Year Built ZIP 24148 Virginia U.S.
2014 or later 0.0% 2.6% 2.5%
2010 to 2013 1.3% 3.2% 2.7%
2000 to 2009 9.5% 15.2% 14.0%
1990 to 1999 19.5% 15.8% 13.9%
1980 to 1989 18.1% 16.4% 13.4%
1970 to 1979 13.9% 15.7% 15.2%
1960 to 1969 15.5% 10.6% 10.6%
1950 to 1959 10.7% 8.8% 10.3%
1940 to 1949 6.8% 4.4% 4.9%
1939 or earlier 4.6% 7.4% 12.6%

Age of Homes in ZIP Code 24148

See the chart below for details on the age of homes in ZIP Code 24148, Virginia, and also in the U.S. overall. Data here refers to years that homes were built.

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Housing FAQs for ZIP Code 24148

Frequently asked questions about housing in this Ridgeway, VA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 24148.

1

What is the average home value ZIP Code 24148?

The median home value in ZIP Code 24148 (Ridgeway, VA) is $111,000.
2

Are homes expensive in ZIP Code 24148?

The median home value in 24148 ($111,000) is an estimated 59% lower than the aggregate median value of $273,100 in Virginia, and is 49% lower than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 24148?

The vacacy rate for owner-occupied housing in ZIP Code 24148 is 2.3%. This rate is 53% higher than the overall Virginia owner-occupied vacancy rate of 1.5%. Additionally, the 24148 vacancy rate is 44% higher than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 24148 have older homes or newer construction?

In ZIP Code 24148, about 19.5% of homes were built in 1990 to 1999. That time range includes the most home construction. Also, 18.1% of homes in the region were built in 1980 to 1989. In contrast, 0.0% of homes in 24148 were built in 2014 or later.
5

What is the housing breakdown in ZIP Code 24148? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 24148 than renter-occupied housing. Owner-occupied units make up 78.3% of housing, compared to 21.7% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 24148?

The vacacy rate for rental units in ZIP Code 24148 is 2.7%. This rate is 50% lower than the overall Virginia vacancy rate of 5.4%. Additionally, the 24148 vacancy rate is 55% lower than the entire U.S. vacancy rate of 6.0%.