The Blacksburg Housing Market - Truly Unique
Photo by Ivan Morozov
www.IvanMPhotography.com
By population, Blacksburg is the largest town in Virginia. With full-time resident population of about 42,000 and a college student population of about 28,000, the "big town" has a unique housing profile - perhaps more so than any other community in the state...
According to CityData.com, Blacksburg's median family income is right about
30,000/year (quite a bit less than the state median income of $59,330/year and a
statistic obviously skewed by the student population), while more than 60% of
the town's population over the age of 25 has at a four-year college degree. More
than forty-percent of the town's full-time residents are employed in
"educational services" (i.e., employed by Virginia Tech) , with the most common
occupation listed as "Postsecondary teachers".
The gist of all this data? There is always high demand for moderately-priced
single-family homes in Blacksburg, somewhat insulating the town from dips in the
housing market such as the recent Great Recession. Why?
- With a vast number of Blacksburg residents employed in education roles at
Virginia Tech, and a vast number of residents moving in and out of the town in
waves ruled by the tides of the academic calendar, houses are always being
bought and sold.
- Due to public schools' nationally recognized for academic excellence
(Blacksburg High School consistently making Newsweek's list of America's Best
High Schools) and extracurricular excellence (multi-year state championship
soccer team; renowned marching band), academicians moving to the town often
place home-location-in Blacksburg-school-district on their "must have" list for
home shopping criteria.
- Due to the town's amenities & features (town-wide Blacksburg Transit
service free to all with a Virginia Tech i.d.; many friendly walking/biking/jogging options including the Huckleberry Trail; the Blacksburg Aquatic Center; the truly charming Hand-in-Hand Playground; the very low crime rate) Blacksburg is a comfortable place to live for retirees as well, as illustrated by the town making U.S. News & World Report's list of "Best Places to Retire".
30,000/year (quite a bit less than the state median income of $59,330/year and a
statistic obviously skewed by the student population), while more than 60% of
the town's population over the age of 25 has at a four-year college degree. More
than forty-percent of the town's full-time residents are employed in
"educational services" (i.e., employed by Virginia Tech) , with the most common
occupation listed as "Postsecondary teachers".
The gist of all this data? There is always high demand for moderately-priced
single-family homes in Blacksburg, somewhat insulating the town from dips in the
housing market such as the recent Great Recession. Why?
- With a vast number of Blacksburg residents employed in education roles at
Virginia Tech, and a vast number of residents moving in and out of the town in
waves ruled by the tides of the academic calendar, houses are always being
bought and sold.
- Due to public schools' nationally recognized for academic excellence
(Blacksburg High School consistently making Newsweek's list of America's Best
High Schools) and extracurricular excellence (multi-year state championship
soccer team; renowned marching band), academicians moving to the town often
place home-location-in Blacksburg-school-district on their "must have" list for
home shopping criteria.
- Due to the town's amenities & features (town-wide Blacksburg Transit
service free to all with a Virginia Tech i.d.; many friendly walking/biking/jogging options including the Huckleberry Trail; the Blacksburg Aquatic Center; the truly charming Hand-in-Hand Playground; the very low crime rate) Blacksburg is a comfortable place to live for retirees as well, as illustrated by the town making U.S. News & World Report's list of "Best Places to Retire".
I live in Blacksburg; my son goes to Blacksburg schools; my wife is a professor at Virginia Tech. And I am one of the very few real estate agents in the area who will confess the following: my love in real estate is working with buyers. I prefer to work with buyers, concentrating my energies on that side of the negotiation table. I enjoy showing properties, watching the market, keeping abreast of properties newly hitting the market - or even properties in the wings, as their owners prepare to offer them for sale. Let me help you through leveraging my knowledge of this unique real estate market to ensure the best possible home buying experience.
Copyright© 2011 Bob Lockee,
All Rights Reserved.
All Rights Reserved.
Hokie Real Estate, Inc.
318 N Main Street
Blacksburg, VA 24060
Office - (540) 998-1276
Fax - (888) 813-5452
318 N Main Street
Blacksburg, VA 24060
Office - (540) 998-1276
Fax - (888) 813-5452
