22454, Dunnsville, VA

The 22454 zip code of Dunnsville, VA has a median home value of $183,000 and a median home equity value of $128,000. The average home price in the 22454 zip code has increased by 10.5% over the past year and is projected to increase by an additional 7.8% in the next year. The 22454 zip code is one of the most affordable areas in Virginia with a median home value below the national average.

Home prices in Dunnsville have been increasing due to strong demand from buyers and limited supply of homes available for sale. The number of homes available for sale has decreased by 6% over the past year while the number of active listings has decreased by only 1%. This indicates that there are more buyers than sellers in this area which is likely driving up prices. Additionally, Dunnsville is located within close proximity to major metropolitan areas such as Washington D.C., Richmond, and Charlottesville which are likely contributing to increased demand for housing in this area.

Despite increasing prices, homeownership rates remain high in Dunnsville with over 80% of households owning their homes compared to the national average of 63%. This high homeownership rate may be due to low interest rates and strong economic conditions which make buying a home more affordable than renting today. Additionally, many first-time buyers are likely purchasing homes in Dunnsville due to its affordability compared to other areas within Virginia such as Northern Virginia or Richmond where house prices are higher.