menu
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.



Rocky Mount, 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

Rocky Mount, VA Housing Market Trends

With a population of 4,936, 1,758 total housing units (homes and apartments), and a median house value of $163,337, house prices in Rocky Mount are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Rocky Mount, accounting for 71.08% of the town's housing units. Other types of housing that are prevalent in Rocky Mount include large apartment complexes or high rise apartments ( 17.72%), duplexes, homes converted to apartments or other small apartment buildings ( 6.04%), and a few row houses and other attached homes ( 4.81%).

The most prevalent building size and type in Rocky Mount are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.87% owning and 37.13% renting.

There is a lot of housing in Rocky Mount 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 Rocky Mount built between 1940-1969 ( 31.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.43%). There's also some housing in Rocky Mount built before 1939 ( 6.38%).

Vacant housing appears to be an issue in Rocky Mount. Fully 13.70% of the housing stock is classified as vacant. Left unchecked, vacant Rocky Mount homes and apartments can be a drag on the real estate market, holding Rocky Mount 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.

Rocky Mount Home Appreciation Rates

Rocky Mount's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rocky Mount during the period has been just 5.10%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Rocky Mount's appreciation rate, at 6.12%, has been at or slightly above the national average. In the latest quarter, Rocky Mount's appreciation rate has been 3.42%, which annualizes to a rate of 14.40%.

Importantly, this makes Rocky Mount 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 Rocky Mount'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 town. Individual neighborhoods within Rocky Mount differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rocky Mount - 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 Rocky Mount real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$163,337

Rocky Mount, VA Home Prices
> $1,250,000
$938,001 - $1,250,000
$625,001 - $938,000
$500,001 - $625,000
$375,001 - $500,000
$250,001 - $375,000
$125,001 - $250,000
$63,001 - $125,000
$0 - $63,000
0.0%
0.0%
0.4%
0.4%
3.1%
3.1%
2.5%
2.5%
13.8%
13.8%
10.9%
10.9%
45.8%
45.8%
11.3%
11.3%
12.3%
12.3%
0% 100.0%
% of Homes
Very Low

for Virginia

Very Low

for nation

Number of Homes And Apartments:

1,758

Rocky Mount Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,384 / per month

Homeownership Rate

Owners
Renters
62.9%
62.9%
37.1%
37.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.7%
13.7%
86.3%
86.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.4%
14.4%
48.0%
48.0%
31.2%
31.2%
6.4%
6.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.1%
71.1%
4.8%
4.8%
6.0%
6.0%
17.7%
17.7%
0.3%
0.3%
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%
8.7%
8.7%
24.6%
24.6%
51.1%
51.1%
14.3%
14.3%
1.2%
1.2%
0% 100.0%
% of Homes