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 4,194, 1,934 total housing units (homes and apartments), and a median house value of $133,679, house prices in North Tazewell 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 North Tazewell, accounting for 62.28% of the town's housing units. Other types of housing that are prevalent in North Tazewell include mobile homes or trailers ( 35.67%), large apartment complexes or high rise apartments ( 1.06%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Tazewell. Owner-occupied housing accounts for 71.01% of North Tazewell's homes, and 62.05% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in North Tazewell 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 North Tazewell built between 1940-1969 ( 21.78%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.93%). There's also some housing in North Tazewell built before 1939 ( 12.64%).
Vacant housing appears to be an issue in North Tazewell. Fully 26.88% of the housing stock is classified as vacant. Left unchecked, vacant North Tazewell homes and apartments can be a drag on the real estate market, holding North Tazewell 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.
North Tazewell's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in North Tazewell during the period has been just 4.55%, which is lower than 80% of US communities.
Over the last year, North Tazewell appreciation rates have trailed the rest of the nation. In the last twelve months, North Tazewell's appreciation rate has been 4.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Tazewell were at 2.32%, which equates to an annual appreciation rate of 9.62%.
Relative to Virginia, our data show that North Tazewell's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.
$133,679
for Virginia
for nation
1,934
$1,248 / per month