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Monterey town, VA

ZIP 24465 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24465

Median Home Value
$209,300
Median Rent
$579
Affordability Snapshot
$58,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,344/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

30.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 24465 in Monterey town, VA, a household would need roughly $58,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,344. That sits below the local median household income ($65,500), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 46% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
82.8%+27% vs US avg
x
Vacancy Rate
46.3%+349% vs US avg
x
Broadband Access
77.3%-11% vs US avg
x
4+ Bedrooms
5.6%-62% vs US avg
x
Built Pre-1939
7.1%-44% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
7.2%-85% vs US avg
x
Mortgage-Free
59.1%+55% vs US avg
x
$209,300
Home Value
$579
Rent
1967
Year Built
2007
Moved In

Residents have lived here since ~2007 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached81.1%
  • 1-unit attached2.3%
  • 2-9 units3.6%
  • 10+ units0.5%
  • Mobile home & other12.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$209,300
Median rent$579
Owner-occupied82.8%
Vacant46.3%
Price-to-income3.2x
Est. income to buy$58,000