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Lake Caroline, VA
Full City Profile · Virginia · Hanover County County
4.3
/5.0
A
Great
2,708
Population
954/sq mi density
$88,222
Median Income
$37,872 per capita
$291,300
Home Value
$346,249 Zillow
$1,634
Median Rent
28.6% income on rent
56°F
Avg Temperature
305 sunny days/yr
A
Overall
4.3 / 5.0
Strong
A+
Economy
4.6 / 5.0
$88,222 median income, 0.0% unemployment
A+
Affordability
4.8 / 5.0
$291,300 home value, $1,634/mo rent
B+
Education
3.5 / 5.0
31.6% bachelor's degree or higher
Housing Overview
Median Home Value
$291,300
3% above
US avg: $281,900
Median Rent
$1,634/mo
40% above
US avg: $1,163/mo
Homeownership Rate
80.4%
23% above US avg (65.4%)
Total Housing Units
1,229
Median year built: 1994
Home Value by Source
Census Median
$291,300
Zillow (ZHVI)
$346,249
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
80.4%
Owner-Occupied
19.6%
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:
$1,634/mo
Affordability & Housing Stock
Rent Burden
28.6%
of renters spending 30%+ of income on housing
8% below US avg (31.0%)
Median Year Built
1994
Average age of housing stock: 32 years
Homeownership Rate
80.4%
Complete Housing Data
Home Values
| Census Median Value | $291,300 |
| Zillow Home Value (ZHVI) | $346,249 |
Rent
| Census Median Rent | $1,634 |
| 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
Ownership & Stock
| Owner-Occupied | 80.4% |
| Renter-Occupied | 19.6% |
| Homeownership Rate | 80.4% |
| Total Housing Units | 1,229 |
| Median Year Built | 1994 |
| Rent Burden | 28.6% |