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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



North Tazewell, VA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

North Tazewell, VA Housing Market Trends

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 Home Appreciation Rates

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.

Average Home Values

Median Home Value

$133,679

North Tazewell, VA Home Prices
> $1,487,000
$1,115,001 - $1,487,000
$743,001 - $1,115,000
$595,001 - $743,000
$446,001 - $595,000
$297,001 - $446,000
$149,001 - $297,000
$74,001 - $149,000
$0 - $74,000
0.2%
0.2%
0.6%
0.6%
0.0%
0.0%
1.2%
1.2%
1.9%
1.9%
6.6%
6.6%
39.5%
39.5%
33.1%
33.1%
16.9%
16.9%
0% 100.0%
% of Homes
Very Low

for Virginia

Very Low

for nation

Number of Homes And Apartments:

1,934

North Tazewell Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,248 / per month

Homeownership Rate

Owners
Renters
71.0%
71.0%
29.0%
29.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
26.9%
26.9%
73.1%
73.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.9%
13.9%
51.6%
51.6%
21.8%
21.8%
12.6%
12.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.3%
62.3%
0.5%
0.5%
0.5%
0.5%
1.1%
1.1%
35.7%
35.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
3.3%
3.3%
31.8%
31.8%
48.8%
48.8%
13.3%
13.3%
0.4%
0.4%
0% 100.0%
% of Homes

Popular Neighborhoods in North Tazewell

Zip Codes in North Tazewell, VA