3  Regional market analysis

The following provides a regional-level analysis of major trends impacting housing within Central Virginia Planning District region. All data has been aggregated to the regional-level and includes:

3.1 Takeaways

  • Population growth as a result of domestic migration due to COVID-19 pandemic
  • Growing renter population — particularly a growing higher income renter population
  • More and more smaller households coming to the region
  • Continuing income disparities — between white and Black households
  • Loss of smaller sized housing
  • Major home price increases and rental vacancy declines due to COVID-19
  • Affordability challenges hitting people of color, renters, and those living alone the most