The Most Affordable Neighborhoods in Favonia, VA by Home Value

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 $116,524, lower than the Virginia average of $443,089.

The average cost of rent is $795/mo in Favonia, primarily driven by the current value of real estate in the Favonia area. In Favonia, 19.62% of households rent, and 59.33% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Favonia is $5,294 per month. Households that rent pay about 15.02% of their income on rent here. Favonia’s most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

No other site shows detail at this level for free. We are able to keep this site free by receiving a small commission from the referring links below if you book, rent, or request a lead at no cost to you. Please share or cite this page if you aren’t able to otherwise support our work.

Map interface © Mapbox © OpenStreetMap Map data and content © bestneighborhood