The story of this market
The typical home in ZIP 24087 sells for about $457,000, or $195 per square foot.
Prices are up +12.8% from a year ago, so sellers still have some momentum. Homes take about 47 days to sell. HUD's fair market rent for a two-bedroom is $1,115 a month.
ZIP 24087 — Elliston
The housing market in 24087 is characterized by low inventory and rising home values, reflecting a tight supply-demand balance. While prices have appreciated significantly over the past year, the market remains driven by its appeal as a rural destination rather than rapid urban expansion.
This area is best suited for those seeking a rural lifestyle, retirees, or remote workers who value proximity to the Blue Ridge Mountains over urban convenience.
Median prices moved up 12.8% year over year.
Homes spend a median of 47 days on market with 5.7 months of supply — a balanced-paced market.
25% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 13.6% · poverty 25.4% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 24087, Floyd County VA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Schools in the area are managed by Floyd County Public Schools, which generally serve a rural student population with moderate performance metrics.
The area is subject to standard regional risks including seasonal storms and potential flooding in low-lying areas near the Blue Ridge Mountains.
Economic momentum is driven by tourism, agriculture, and the proximity to the Roanoke metropolitan area, with limited large-scale industrial development.
Property taxes are assessed at the county level by Floyd County; the rate is determined by the Board of Supervisors annually based on budget requirements.
Commuting typically requires personal vehicle travel via state routes to reach employment hubs in Roanoke or Christiansburg.
The area is known for its proximity to the Blue Ridge Parkway, local arts and music venues, and outdoor recreational opportunities like hiking and fishing.
The rental market is limited in depth with low inventory, primarily consisting of single-family homes and small-scale residential units.
The local economy is anchored by agriculture, tourism, and small-scale manufacturing, with many residents commuting to larger regional employment centers.
Transportation is primarily reliant on private vehicle use; there is no significant public transit infrastructure serving the area.
Development is largely focused on small-scale residential and tourism-related projects consistent with the rural character of the county.
The Floyd County Commissioner of the Revenue oversees property assessments, which are conducted periodically to reflect fair market value.
Parcels are subject to county-level taxation and school district levies; no major MUD or PID districts are prevalent.
Property insurance premiums are influenced by regional wildfire and storm risk profiles typical of the Blue Ridge region.
Virginia operates as a non-judicial foreclosure state, allowing for efficient trustee-led sales following default.
Virginia is a 'caveat emptor' state, though sellers are required to provide a residential property disclosure statement regarding the condition of the property.
Data derived from World Population Review and Zillow market reports.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A major national scenic byway providing extensive hiking and outdoor access.
A landmark venue famous for traditional Appalachian music and community gatherings.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.