Charlottesville, 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
4.39×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Virginia
- 3.86×
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
24.2%
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
tight
Cap rate proxy
3.58%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Virginia
- 3.96%
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.31%
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
strong
Permit pipeline
5.95
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+0.05
- vs U.S.
- 3.52+2.42
Benchmark
Census BPS permits TTM ÷ population × 1,000
very tight labor market
Unemployment
2.9%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Virginia
- 3.3%-0.4
- vs U.S.
- 3.9%-1.0
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+52.2%
homeValues.yearOverYear
+4.2%
Median home value
$397,600
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,602 | $19,224 | 21.2% |
| 2 BR | $1,824 | $21,888 | 24.2% |
| 3 BR | $2,218 | $26,616 | 29.4% |
Labor market direction
Unemployment
2.9%
Median household income
$90,552
What's being built
Total TTM
1,318
+40.2% YoY
Single-family
958
2–4 unit
19
5+ unit
341
All 5 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Albemarle County | 112,513 | $471,000 | $102,617 | 718 | +7.2% |
| Charlottesville city | 46,289 | $448,400 | $69,829 | 160 | +247.8% |
| Fluvanna County | 27,442 | $281,700 | $91,959 | 185 | +54.2% |
| Greene County | 20,631 | $315,300 | $85,268 | 195 | |
| Nelson County | 14,773 | $283,000 | $68,525 | 60 | +5.3% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Charlottesville | 221,648 | $90,552 | 4.39× | 3.58% | +52.2% | 5.95 | 2.9% |
| Burlington-South Burlington, VT | 225,745 | $90,911 | — | — | +56.9% | — | 2.3% |
| Rochester, MN | 225,911 | $89,675 | — | — | +39.2% | — | 3.3% |
| Barnstable Town, MA | 229,436 | $94,452 | — | — | +63.1% | — | 5.8% |
| Hilton Head Island-Bluffton, SC | 218,515 | $81,015 | — | — | +71.6% | — | 4.5% |
| Bellingham, WA | 226,523 | $80,989 | — | — | +49.5% | — | 5.2% |
Where people are moving in from
Net migration
-677
-0.31% of population
| Origin county | Tax returns |
|---|---|
| Albemarle County, VA | 1,160 |
| Charlottesville city, VA | 1,045 |
| Fairfax County, VA | 235 |
| Fluvanna County, VA | 232 |
| Greene County, VA | 185 |
| Louisa County, VA | 185 |
Who lives in Charlottesville
- Median age
- 39
- Bachelor's+
- 52.2%
- Owner-occupancy
- 65.8%
- Vacancy rate
- 10.5%
- Rent burdened (30%+)
- 45.8%
- Median household income
- $90,552
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.