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 4,881 people, 2,204 houses or apartments, and a median cost of homes of $287,291, South Hill 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 South Hill, accounting for 63.31% of the town's housing units. Other types of housing that are prevalent in South Hill include large apartment complexes or high rise apartments ( 15.79%), duplexes, homes converted to apartments or other small apartment buildings ( 9.17%), and a few row houses and other attached homes ( 6.86%).
The most prevalent building size and type in South Hill are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.17% owning and 46.83% renting.
There is a lot of housing in South Hill 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 South Hill built between 1940-1969 ( 35.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.41%). There's also some housing in South Hill built before 1939 ( 5.88%).
Vacant housing appears to be an issue in South Hill. Fully 10.55% of the housing stock is classified as vacant. Left unchecked, vacant South Hill homes and apartments can be a drag on the real estate market, holding South Hill 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.
South Hill's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Hill during the period has been just 5.65%, which is lower than 70% of US communities.
Over the last year, South Hill appreciation rates have trailed the rest of the nation. In the last twelve months, South Hill's appreciation rate has been 6.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Hill were at -1.03%, which equates to an annual appreciation rate of -4.04%.
Notably, South Hill's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that South Hill's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.
$287,291
for Virginia
for nation
2,204
$1,878 / per month