Housing decision brief
Petersburg city, VA Housing Market
Petersburg city screens as a below-state purchase price, rent that needs comparison, a higher tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
28th lowest home value out of 133 Virginia counties with data | 81st lowest rent out of 133
Median home value
$157,900
Purchase-price signal from Census ACS.
Median rent
$1,132/mo
Gross rent, including utilities where reported.
Monthly owner cost
$1,049/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.1x
Median home value divided by local household income.
Rent burden
30.0%
At or above the 30% burden threshold.
Rent vs own
$83/mo
Median owner cost screens below median rent.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$157,900 median home value is 34% below Virginia county median
Owning screens cheaper than renting
Median owner costs are $83/mo below median rent before individual mortgage terms.
Low disaster-risk signal
Risk score is 83.1 out of 100, a stronger cross-check for long-term ownership costs.
What to Check
Lower income base
$50,741 median income is 24% below Virginia county median
Tax rate needs attention
0.92% effective property-tax rate is 46% above Virginia county median
Health context
Health score is 28.4 out of 100, so affordability should be weighed against local health indicators.
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Households weighing ownership against renting
- Long-term owners who care about disaster-risk exposure
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Petersburg city is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $157,900 | $240,900 | $281,900 | 34% favorable34% below Virginia county median |
Median gross rent Lower usually helps affordability. | $1,132 | $1,043 | $1,163 | 9% pressure9% above Virginia county median |
Monthly owner cost Lower usually helps affordability. | $1,049 | $978 | $1,672 | 7% pressure7% above Virginia county median |
Median household income | $50,741 | $66,718 | $74,755 | 24% pressure24% below Virginia county median |
Effective property-tax rate Lower usually helps affordability. | 0.92% | 0.63% | 1.02% | 46% pressure46% above Virginia county median |
Rent burden Lower usually helps affordability. | 30.00% | 28.00% | N/A | 7% pressure30.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$5,461
Median income minus rent threshold.
Owner cushion
+$5,784
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
For renters in Petersburg city, the market is moderately affordable. Expect to pay around $1,132/month in gross rent, with 30.0% of renter households considered cost-burdened.
Rent vs own
At $1,132/month rent versus $1,049/month in owner costs, owning is roughly $83/month cheaper , a 7% difference.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $45,280/year. For owner costs at the 28% rule, the required income is roughly $44,957/year. With a median household income of $50,741, most households can comfortably afford rent here. Notably, 30.0% of renter households in Petersburg city are cost-burdened, spending more than 30% of income on housing.
Regional context
Petersburg city sits 5% more expensive than Charles City County ($1,076/month) in terms of median gross rent.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Hopewell city, VA | $165,100 | $1,085/mo | Same-state comparison near $165,100 home value and $1,085/mo rent. |
| Buena Vista city, VA | $153,500 | $1,067/mo | Same-state comparison near $153,500 home value and $1,067/mo rent. |
| Emporia city, VA | $131,100 | $1,060/mo | Same-state comparison near $131,100 home value and $1,060/mo rent. |
| Greensville County, VA | $159,200 | $960/mo | Same-state comparison near $159,200 home value and $960/mo rent. |
| Roanoke city, VA | $180,500 | $964/mo | Same-state comparison near $180,500 home value and $964/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Petersburg city
Is Petersburg city affordable for buying a home?
Is renting or owning cheaper in Petersburg city?
How much income do you need for housing in Petersburg city?
What should I double-check before moving to Petersburg city?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.