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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.



Providence Forge, 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

Providence Forge, VA Housing Market Trends

With a population of 8,456, 3,250 total housing units (homes and apartments), and a median house value of $590,813, Providence Forge house prices are not only among the most expensive in Virginia, Providence Forge real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Providence Forge, accounting for 92.38% of the town's housing units. Other types of housing that are prevalent in Providence Forge include mobile homes or trailers ( 6.22%), row houses and other attached homes ( 1.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Providence Forge. Owner-occupied housing accounts for 87.82% of Providence Forge's homes, and 83.13% have either three or four bedrooms, which is average sized relative to America.

Providence Forge homes and real estate are some of the newest in America. 45.72% of Providence Forge's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Providence Forge real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.69%), and between 1940-1969 ( 13.91%). There's also some housing in Providence Forge built before 1939 ( 3.68%).

Providence Forge Home Appreciation Rates

Real estate appreciation rates in Providence Forge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.94% during the period.

NeighborhoodScout's data show that during the latest twelve months, Providence Forge's appreciation rate, at 5.98%, has been at or slightly above the national average. In the latest quarter, Providence Forge's appreciation rate has been 2.48%, which annualizes to a rate of 10.31%.

Relative to Virginia, our data show that Providence Forge's latest annual appreciation rate is lower than 50% of the other cities and towns in Virginia.

Average Home Values

Median Home Value

$590,813

Providence Forge, VA Home Prices
> $1,318,000
$988,001 - $1,318,000
$659,001 - $988,000
$527,001 - $659,000
$396,001 - $527,000
$264,001 - $396,000
$132,001 - $264,000
$66,001 - $132,000
$0 - $66,000
5.0%
5.0%
1.9%
1.9%
13.7%
13.7%
19.3%
19.3%
22.6%
22.6%
16.9%
16.9%
15.7%
15.7%
3.1%
3.1%
1.7%
1.7%
0% 100.0%
% of Homes
Very High

for Virginia

Very High

for nation

Number of Homes And Apartments:

3,250

Providence Forge Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,539 / per month

Homeownership Rate

Owners
Renters
87.8%
87.8%
12.2%
12.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.3%
5.3%
94.7%
94.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
45.7%
45.7%
36.7%
36.7%
13.9%
13.9%
3.7%
3.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
92.4%
92.4%
1.1%
1.1%
0.2%
0.2%
0.1%
0.1%
6.2%
6.2%
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
0.1%
0.1%
0.6%
0.6%
6.3%
6.3%
62.0%
62.0%
21.1%
21.1%
9.8%
9.8%
0% 100.0%
% of Homes

Popular Neighborhoods in Providence Forge

Zip Codes in Providence Forge, VA