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 a population of 3,021, 1,095 total housing units (homes and apartments), and a median house value of $290,176, Timberville 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 Timberville, accounting for 62.52% of the town's housing units. Other types of housing that are prevalent in Timberville include row houses and other attached homes ( 17.97%), duplexes, homes converted to apartments or other small apartment buildings ( 9.54%), and a few large apartment complexes or high rise apartments ( 5.11%).
The most prevalent building size and type in Timberville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.61% owning and 37.39% renting.
There is a lot of housing in Timberville 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 Timberville built between 2000 and later ( 33.30%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.80%). There's also some housing in Timberville built before 1939 ( 10.05%).
Real estate appreciation rates in Timberville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.21% during the period.
NeighborhoodScout's data show that during the latest twelve months, Timberville's appreciation rate, at 10.89%, has been at or slightly above the national average. In the latest quarter, Timberville's appreciation rate has been 17.74%, which annualizes to a rate of 92.15%.
Importantly, this makes Timberville 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 Timberville's latest annual appreciation rate is higher than 70% of the other cities and towns in Virginia.
$290,176
for Virginia
for nation
1,095
$1,467 / per month