22902, Charlottesville, VA

The 22902 zip code of Charlottesville, VA has a median home value of $242,000 and a median home equity value of $141,000. This is higher than the statewide median home value of $217,500 and the national median home equity value of $142,700. The 22902 zip code also has a lower than average rate of homeownership at 63%. This is likely due to the high cost of living in Charlottesville.

Despite having a high median home value and low rate of homeownership, the 22902 zip code still experiences significant fluctuations in home prices. In 2016, the median home price was $269,900 but decreased to $235,000 in 2017. Similarly, thehome equity value increased from $138,000 in 2016 to$151,000in 2017. These fluctuations are likely due to local market conditions such as interest rates and availability of homes for sale.