Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Favonia area can be challenging. Home prices in Favonia are now at a median cost of $153,731, lower than the Virginia average of $323,261.
The average cost of rent is $666/mo in Favonia, primarily driven by the current value of real estate in the Favonia area. While nearly 62.79% of residents own their homes outright in Favonia, 25.74% rent.
Housing affordability isn’t just about home prices, though. The average household income in Favonia is $4,179 per month. Households that rent pay about 15.94% of their income on rent here. Favonia's most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Porters Crossroads, VA: higher priced homes
- Wytheville, VA: equally priced homes
- Staley Crossroads, VA: less expensive homes
- Kindrick, VA: equally priced homes
- Bland, VA: less expensive homes
- Grapefield, VA: less expensive homes
- Suiter, VA: equally priced homes
- Ceres, VA: less expensive homes
- Groseclose, VA: less expensive homes
- Bastian, VA: less expensive homes
Cities with Similar Populations
- Hootentown, NC: higher priced homes
- West Wardsboro, VT: higher priced homes
- Westside, IA: less expensive homes
- Wetmore, KS: less expensive homes
- Wheatonville, IN: higher priced homes
- Hundred, WV: less expensive homes
- Humeston, IA: less expensive homes
- Houston Acres, KY: higher priced homes
- Horners, VA: higher priced homes
- White Bead, OK: less expensive homes
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