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Cave Spring, VA
Full City Profile · Virginia · Salem city County
3.9
/5.0
B+
Good
26,014
Population
2,179/sq mi density
$85,314
Median Income
$47,663 per capita
$296,700
Home Value
$272,178 Zillow
$1,224
Median Rent
24.4% income on rent
51°F
Avg Temperature
305 sunny days/yr
344
Violent Crime/100K
4,171 property/100K
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.7 / 5.0
$85,314 median income, 1.9% unemployment
A+
Affordability
4.7 / 5.0
$296,700 home value, $1,224/mo rent
F
Safety
1.0 / 5.0
344 violent crimes/100K
A+
Education
5.0 / 5.0
50.4% bachelor's degree or higher
Housing Overview
Median Home Value
$296,700
5% above
US avg: $281,900
Median Rent
$1,224/mo
5% above
US avg: $1,163/mo
Homeownership Rate
70.0%
7% above US avg (65.4%)
Total Housing Units
11,994
Median year built: 1977
Home Value by Source
Census Median
$296,700
Zillow (ZHVI)
$272,178
Median Sale Price
$292,000
Median List Price
$364,499
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
70.0%
Owner-Occupied
30.0%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,137/mo
1 Bedroom
$1,181/mo
2 Bedroom
$1,369/mo
3 Bedroom
$1,787/mo
4 Bedroom
$2,126/mo
Census median rent:
$1,224/mo
Market Indicators (Redfin)
Median Days on Market
62 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
19
Price Drops
16.2%
of listings with price reduction
Price Per Sq Ft
$134
Active Inventory
68
homes for sale
Affordability & Housing Stock
Rent Burden
24.4%
of renters spending 30%+ of income on housing
21% below US avg (31.0%)
Median Year Built
1977
Average age of housing stock: 49 years
Homeownership Rate
70.0%
Complete Housing Data
Home Values
| Census Median Value | $296,700 |
| Zillow Home Value (ZHVI) | $272,178 |
| Median Sale Price | $292,000 |
| Median List Price | $364,499 |
| Price Per Sq Ft | $134 |
Rent
| Census Median Rent | $1,224 |
| FMR Studio | $1,137 |
| FMR 1-Bedroom | $1,181 |
| FMR 2-Bedroom | $1,369 |
| FMR 3-Bedroom | $1,787 |
| FMR 4-Bedroom | $2,126 |
Market
| Days on Market | 62 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 16.2% |
| Homes Sold | 19 |
| Active Inventory | 68 |
| Price Per Sq Ft | $134 |
Ownership & Stock
| Owner-Occupied | 70.0% |
| Renter-Occupied | 30.0% |
| Homeownership Rate | 70.0% |
| Total Housing Units | 11,994 |
| Median Year Built | 1977 |
| Rent Burden | 24.4% |