Blacksburg-Christiansburg, VA
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.53×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Virginia
- 3.86×-0.33
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
23.6%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Virginia
- 22.9%
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.34%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Virginia
- 3.96%+0.38
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.25%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Virginia
- -0.06%
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
3.22
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Virginia
- 5.90
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.5%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Virginia
- 3.3%
- vs U.S.
- 3.9%-0.4
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+52.3%
homeValues.yearOverYear
+6.5%
Median home value
$228,400
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $993 | $11,916 | 18.4% |
| 2 BR | $1,271 | $15,252 | 23.6% |
| 3 BR | $1,706 | $20,472 | 31.7% |
Labor market direction
Unemployment
3.5%
Median household income
$64,627
What's being built
Total TTM
535
+47.2% YoY
Single-family
438
2–4 unit
25
5+ unit
72
All 5 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Montgomery County | 99,373 | $283,600 | $70,769 | 378 | +50.6% |
| Pulaski County | 33,841 | $182,500 | $60,767 | 55 | +89.7% |
| Giles County | 16,711 | $143,500 | $64,819 | 21 | -8.7% |
| Radford city | 16,379 | $211,700 | $52,791 | 11 | |
| Floyd County | 15,532 | $215,500 | $61,401 | 70 | +29.6% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Blacksburg | 166,304 | $64,627 | 3.53× | 4.34% | +52.3% | 3.22 | 3.5% |
| Burlington, NC | 171,779 | $64,445 | — | — | +64.1% | — | 3.4% |
| Jackson, MI | 160,637 | $65,004 | — | — | +49.9% | — | 4.9% |
| Pueblo, CO | 168,135 | $62,250 | — | — | +38.6% | — | 5.3% |
| Bloomington, IN | 161,426 | $62,949 | — | — | +48.5% | — | 2.4% |
| Muskegon, MI | 175,947 | $63,495 | — | — | +70.0% | — | 5.1% |
Where people are moving in from
Net migration
-408
-0.25% of population
| Origin county | Tax returns |
|---|---|
| Montgomery County, VA | 573 |
| Radford city, VA | 321 |
| Pulaski County, VA | 286 |
| Roanoke County, VA | 154 |
| Roanoke city, VA | 137 |
| Giles County, VA | 100 |
Who lives in Blacksburg
- Median age
- 35
- Bachelor's+
- 35.9%
- Owner-occupancy
- 62.5%
- Vacancy rate
- 14.6%
- Rent burdened (30%+)
- 41.8%
- Median household income
- $64,627
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.