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Pennington Gap town, VA

ZIP 24277 — Housing & Real Estate

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

Low Income AreaLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24277

Median Home Value
$81,200
Median Rent
$509
Affordability Snapshot
$22,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$522/mo PITI).

18%
Rent-to-Income Ratio

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

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

13.3 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 24277 in Pennington Gap town, VA, a household would need roughly $22,000 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 $522. That sits below the local median household income ($33,102), 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 19% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
61.6%-6% vs US avg
x
Vacancy Rate
19.3%+87% vs US avg
x
Broadband Access
74.1%-15% vs US avg
x
4+ Bedrooms
2.1%-86% vs US avg
x
Built Pre-1939
8.8%-32% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
28.9%-42% vs US avg
x
Mortgage-Free
70.5%+85% vs US avg
x
$81,200
Home Value
$509
Rent
1975
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

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

  • 1-unit detached65.9%
  • 1-unit attached0.9%
  • 2-9 units4.8%
  • 10+ units2.9%
  • Mobile home & other25.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$81,200
Median rent$509
Owner-occupied61.6%
Vacant19.3%
Price-to-income2.5x
Est. income to buy$22,000