Big Stone Gap Virginia Area Home Supply Charts

This page looks at a variety of Big Stone Gap Virginia housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Big Stone Gap shows it has a Housing Units of 1,988 which is the largest of all places in the greater Big Stone Gap region.

Figure 2 illustrates the housing density in the Big Stone Gap housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Big Stone Gap shows it has a Housing Density of 406.6 which is the second most of all the places in the greater region. The city with the highest housing density in the area is Lynch which depicts a density of 1499.2 (approximately 3.7 times bigger). Comparing housing density to the United States average of 38.9, Big Stone Gap is substantially bigger. Also, measured against the state of Virginia, housing density of 89.2, Big Stone Gap is approximately 4.6 times bigger.

In Figure 4, Big Stone Gap area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Big Stone Gap depicts it has a Housing Unit Change of -3.1% which is in the center range of other places in the metro area. The city with the highest change in the housing units in the area is Dryden CDP which depicts a housing units of 4.1% (30.0% larger). Comparing change in the housing units to the United States average of 5.7%, Big Stone Gap is about the same size. Also, in comparison with the state of Virginia, change in the housing units of 4.4%, Big Stone Gap is about the same size.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Big Stone Gap depicts it has a Renter Percent of 46.7% which is the second most renter percent of all the places in the greater Big Stone Gap region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 53.3% which is the second smallest when ranked by owner percent of all the other places in the greater region.

Big Stone Gap Virginia Home Cost Charts

Looking at the housing data provided in Figure 7, the average Big Stone Gap home price is illustrated for this community and a useful analysis of affordable housing. Big Stone Gap indicates it has a Median Home Value of $126,100 which is the largest of all places in the greater Big Stone Gap region. Figure 8 provides aggregate comparative data for the Big Stone Gap Virginia metro area in terms of the median housing rental rate, apartment rent, etc. Big Stone Gap shows it has a Median Gross Rent of $690 which is the second most rental rates of all the places in the greater Big Stone Gap region. The city with the highest rental rates in the area is Lynch which shows a rental rates of $708 (only about 2.6% larger). Comparing rental rates to the United States average of $1,062, Big Stone Gap is approximately three-fourths the size. Also, measured against the state of Virginia, rental rates of $1,234, Big Stone Gap is approximately half the size.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Big Stone Gap has the percentage of home price worth less than $50,000 less than most other places in the local area at 29% of the total. Second, it has one of the largest proportions of home price worth between $50,000 to $100,000 at 35% of the total and is ranked #2. The only larger city being Dryden CDP with 42%. Third, it has one of the largest proportions of home price worth between $100,000 to $200,000 at 16% of the total and is ranked #2. The only larger city being Duffield with 23%. Also, it has the largest proportion of home price worth between $500,000 to $750,000 at 6% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Big Stone Gap shows it has a Median Owner Cost of $820 which is at the top of all other places in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Big Stone Gap metro area. it has a Owner Cost as % of HH Income of 14% which is less than most other places in the greater region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Big Stone Gap depicts it has a Median Home Value as Percent of Median Earnings of 330% which is ranked #1 of all places in the greater Big Stone Gap region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Big Stone Gap depicts it has a Median Owner Costs-With Mortgage of $1,147 which is the largest of all places in the greater Big Stone Gap region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $363 which is the second most median housing cost of all the places in the greater Big Stone Gap region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Big Stone Gap has the smallest proportion of owner cost between $300 and $500 at 2% of the total. Second, it has one of the largest proportions of owner cost between $500 and $700 at 22% of the total and is ranked #2. The only larger city being Dryden CDP with 29%. Third, it has the largest proportion of owner cost between $700 and $1,000 at 21% of the total and is ranked #1. Also, it has the largest proportion of owner cost between $2,000 and $2,500 at 2% of the total and is ranked #1. In addition, it has the largest proportion of owner cost between $3,500 and $4,000 at 6% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Big Stone Gap depicts it has a % of Income Owner Costs-With Mortgage of 18% which is less than most other places in the surrounding region. The city with the highest cost as a percent of household income in the area is Lynch which depicts a cost as a percent of household income of 28% (51.1% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Big Stone Gap depicts it has a % of Income Owner Costs-No Mortgage of 11% which is less than most other places in the area. The city with the highest cost as a percent of household income in the area is Norton which shows a cost as a percent of household income of 13% (18.5% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Big Stone Gap has one of the largest proportions of rent as a percent of income is less than 10 pct at 25% of the total and is ranked #2. The only larger city being Duffield with 27%. Second, it has less than most other places in the area when sorted by rent as a percent of income is between 10pct to 20pct at 15% of the total. Third, it has in the center range of other places in the surrounding region in terms of rent as a percent of income is between 40pct to 50pct at 16% of the total.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Big Stone Gap has the smallest proportion of housing cost between $300 and $500 at 10% of the total. Second, it has the largest proportion of housing cost between $700 and $1,000 at 14% of the total and is ranked #1. Third, it has the largest proportion of housing cost between $2,000 and $2,500 at 1% of the total and is ranked #1. Also, it has the largest proportion of housing cost between $2,500 and $3,000 at 3% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,075 which is ranked #1 of all places in the greater Big Stone Gap region. Comparing median real estate taxes paid to the United States average of $2,471, Big Stone Gap is approximately half the size. Also, benchmarked against the state of Virginia, median real estate taxes paid of $2,234, Big Stone Gap is approximately half the size.

Figure 22 shows the percentage of renters who pay for utilities in Big Stone Gap Virginia. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Big Stone Gap has the largest proportion of pay extra for utilities at 15% of the total and is ranked #1.

Figure 23 shows the rental rate distribution for this area. Big Stone Gap Virginia has the percentage of rent between 300 and 500 dollars the second smallest in terms of rent less than 300 dollars of all the other places in the local area at 21% of the total. Second, it has one of the largest proportions of rent between 500 and 750 dollars at 27% of the total and is ranked #2. The only larger city being Dryden CDP with 35%. Third, it has the largest proportion of rent between 1000 and 1500 dollars at 2% of the total and is ranked #1.

Big Stone Gap Virginia Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Big Stone Gap has the largest proportion of with mortgage at 9% of the total and is ranked #1. Second, it has the largest proportion of 2nd mortgage at 9% of the total and is ranked #1. Third, it has one of the largest proportions of both 2nd mortgage and heloc at 49% of the total and is ranked #3. Only #2 Duffield (50%), and #1 Dryden CDP (57%) are larger. Also, it has the second smallest when ranked by with mortgage of all the other places in the greater region in terms of no 2nd mortgage and no heloc at 42% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Big Stone Gap has the percentage of houses with mortgages the second smallest in terms of houses with a mortgage of all the other places in the local area at 42% of the total.

Big Stone Gap Virginia Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.0 which is the second smallest in order of family members per housing unit of all the other places in the metropolitan area. The city with the highest family members per housing unit in the area is Keokee CDP which shows a family members per housing unit of 4.1 (38.8% larger). Comparing family members per housing unit to the United States average of 3.3, Big Stone Gap is about 12.1% smaller. Also, compared to the state of Virginia, family members per housing unit of 3.3, Big Stone Gap is about 10.0% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.8 which is the third most average number of rooms in a house of all other places in the greater Big Stone Gap region. The city with the highest average number of rooms in a house in the area is Lynch which shows an average number of rooms in a house of 6.3 (8.6% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1976 which is the second most of all the places in the greater region. The city with the highest year built in the area is Dryden CDP which depicts a year built of 1989 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built in 2014 or later at 5% of the total and is ranked #2. The only larger city being Dryden CDP with 11%. Second, it has one of the largest proportions of homes built between 1980 to 1989 at 23% of the total and is ranked #2. The only larger city being Norton with 26%. Third, it has the second smallest as measured by homes built in 2014 or later of all the other places in the greater region in order of homes built between 1950 to 1959 at 5% of the total. Also, it has in the center range of other places in the metro area as measured by homes built between 1940 to 1949 at 17% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 791 of the total and is ranked #2. The only larger city being Norton with 813.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of 20 to 49 units at 7% of the total and is ranked #1. Second, it has less than most other places in the greater region when sorted by 50 or more units at 10% of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2000 to 2009 at $136,600 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 1980 to 1989 at $109,100 of the total and is ranked #1. Third, it has the largest proportion of value of homes built 1970 to 1979 at $104,900 of the total and is ranked #1. Also, it has the largest proportion of value of homes built 1950 to 1959 at $142,600 of the total and is ranked #1. In addition, it has the largest proportion of value of homes built 1940 to 1949 at $128,300 of the total and is ranked #1.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. has the percentage of occupied housing units less than most other places in the local area at 15% of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Big Stone Gap residents. it has a Owner-Household Size of 2.4 which is in the center range of other places in the local area. The city with the highest homeowner household size in the area is Keokee CDP which shows a homeowner household size of 4.0 (66.1% larger).

Figure 37 shows the household size for renters. Big Stone Gap shows it has a Renter-Household Size of 2.3 which is less than most other places in the metro area. The city with the highest renter household size in the area is Dryden CDP which shows a renter household sizes of 3.3 (43.0% larger). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2017 or later at 6% of the total and is ranked #3. Only #2 Dryden CDP (11%), and #1 Keokee CDP (19%) are larger. Second, it has the largest proportion of owners moved in 2015 to 2016 at 21% of the total and is ranked #1. Third, it has one of the largest proportions of owners moved in 2010 to 2014 at 32% of the total and is ranked #3. Only #2 Dryden CDP (45%), and #1 Duffield (45%) are larger. Also, it has the second smallest in terms of owners moved in 2017 or later of all the other places in the area when ranked by owners moved in 2000 to 2009 at 11% of the total. In addition, it has less than most other places in the metropolitan area when ranked by owners moved in 1990 to 1999 at 25% of the total. Figure 39 shows the year that people who rent moved into the area. Big Stone Gap has the percentage of renters moved in 2017 or later less than most other places in the greater region at 28% of the total. Second, it has the smallest proportion of renters moved in 2015 to 2016 at 18% of the total. Third, it has the second smallest when ranked by renters moved in 2017 or later of all the other places in the local area in terms of renters moved in 2010 to 2014 at 4% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2001 which is the second most median year that a home owner moved in of all the places in the greater Big Stone Gap region. Figure 41 compares the median year that renters moved into their home. Big Stone Gap depicts it has a Renter Median Year Moved In of 2016 which is at the top of all other places in the greater Big Stone Gap region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of home using bottled, tank, or lp gas in the mid point range of other places in the local area at 89% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Big Stone Gap housing department, Virginia department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Big Stone Gap depicts it has a Total In Group Quarters of 1,280 which is is the uppermost of the places in the surrounding region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Big Stone Gap residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Big Stone Gap has the largest proportion of number of people under 18 years of age and in group quarters at 100% of the total and is ranked #1.