The story of this market
The typical home in ZIP 24426 sells for about $161,750, or $120 per square foot.
Prices are down 8.91% from a year ago, which gives buyers more room to negotiate. Homes take about 59 days to sell. HUD's fair market rent for a two-bedroom is $793 a month.
ZIP 24426 — Covington
The housing market in the 24426 ZIP code and broader Alleghany County is experiencing a cooling trend, evidenced by a year-over-year decline in median listing prices. Market activity remains limited, reflecting the rural nature of the region and a demographic shift toward an older population base.
This area is suitable for those seeking a rural, mountain-adjacent lifestyle with a lower cost of living, appealing to retirees and those who prefer a quieter, less dense environment.
Median prices moved down 8.9% year over year.
Homes spend a median of 59 days on market with 0.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.2% · poverty 15.2% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 24426, Alleghany 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.
The average commute time for residents is approximately 22.1 minutes.
The area is situated in the Allegheny Mountains, offering proximity to outdoor recreation, trails, and natural scenery.
The rental market is characterized by a median asking rent of $808 per month.
The local economy has historically transitioned from hemp and agriculture to livestock and grain production, with the county seat of Covington serving as a central hub.
The area is served by regional road networks through the Allegheny Mountains, with limited public transit infrastructure.
Data sourced from SimpleMaps US Zips Comprehensive Database and ACS 2023.
Provides the scenic backdrop and outdoor recreation opportunities for the region.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.