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 18,294 people, 7,612 houses or apartments, and a median cost of homes of $300,498, Colonial Heights real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Colonial Heights, accounting for 78.74% of the city's housing units. Other types of housing that are prevalent in Colonial Heights include large apartment complexes or high rise apartments ( 10.45%), duplexes, homes converted to apartments or other small apartment buildings ( 6.80%), and a few row houses and other attached homes ( 3.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Colonial Heights. Owner-occupied housing accounts for 65.77% of Colonial Heights's homes, and 64.89% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Colonial Heights's housing was primarily built during this period, from the '40s through the '60s. A full 45.14% of the city's housing hails from this era. Other housing ages represented in Colonial Heights include homes built between 1970-1999 ( 41.12%) and housing constructed between 2000 and later ( 7.46%). There's also some housing in Colonial Heights built before 1939 ( 6.28%).
Real estate appreciation rates in Colonial Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.29% during the period.
NeighborhoodScout's data show that during the latest twelve months, Colonial Heights's appreciation rate, at 5.94%, has been at or slightly above the national average. In the latest quarter, Colonial Heights's appreciation rate has been 2.48%, which annualizes to a rate of 10.31%.
Relative to Virginia, our data show that Colonial Heights's latest annual appreciation rate is lower than 50% 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 city. Individual neighborhoods within Colonial Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Colonial Heights - 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 Colonial Heights real estate investment or home purchase decisions.
$300,498
for Virginia
for nation
7,612
$2,146 / per month