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 28,757 people, 11,276 houses or apartments, and a median cost of homes of $580,568, Fredericksburg house prices are not only among the most expensive in Virginia, Fredericksburg real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Fredericksburg, accounting for 43.00% of the city's housing units. Other types of housing that are prevalent in Fredericksburg include single-family detached homes ( 40.84%), row houses and other attached homes ( 10.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.99%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Fredericksburg primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Fredericksburg has a mixture of owner-occupied and renter-occupied housing.
Fredericksburg homes and real estate are some of the newest in America. 35.39% of Fredericksburg's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Fredericksburg real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.32%), and between 1940-1969 ( 18.52%). There's also some housing in Fredericksburg built before 1939 ( 13.77%).
Fredericksburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Fredericksburg during the period has been just 5.61%, which is lower than 70% of US communities.
Over the last year, Fredericksburg appreciation rates have trailed the rest of the nation. In the last twelve months, Fredericksburg's appreciation rate has been 4.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fredericksburg were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Fredericksburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Virginia, our data show that Fredericksburg's latest annual appreciation rate is lower than 70% 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 Fredericksburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fredericksburg - 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 Fredericksburg real estate investment or home purchase decisions.
$580,568
for Virginia
for nation
11,276
$1,977 / per month