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 637 people, 393 houses or apartments, and a median cost of homes of $234,072, house prices in Jarratt are solidly below the national average.
Single-family detached homes are the single most common housing type in Jarratt, accounting for 85.36% of the town's housing units. Other types of housing that are prevalent in Jarratt include duplexes, homes converted to apartments or other small apartment buildings ( 7.21%), large apartment complexes or high rise apartments ( 5.63%), and a few row houses and other attached homes ( 1.35%).
The most prevalent building size and type in Jarratt are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.03% owning and 40.97% renting.
There is a lot of housing in Jarratt 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 Jarratt built between 1940-1969 ( 35.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.50%). There's also some housing in Jarratt built before 1939 ( 5.41%).
Vacant housing appears to be an issue in Jarratt. Fully 11.49% of the housing stock is classified as vacant. Left unchecked, vacant Jarratt homes and apartments can be a drag on the real estate market, holding Jarratt 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.
Real estate appreciation rates in Jarratt's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.52% during the period.
NeighborhoodScout's data show that during the latest twelve months, Jarratt's appreciation rate, at 6.59%, has been at or slightly above the national average. In the latest quarter, Jarratt's appreciation rate has been 2.36%, which annualizes to a rate of 9.76%.
Relative to Virginia, our data show that Jarratt's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.
$234,072
for Virginia
for nation
393
$2,044 / per month