Surry County

Surry County, Virginia sits at a median home price of $288,050 with year-over-year appreciation of 2.34% and an affordability index of 68, which puts it in the lower-cost tier relative to its Virginia neighbors. The data provided does not include a median rent figure or cap rate, which means the cash-flow score registers at zero and any yield-based underwriting would require independent rent comps before committing capital. What the scores do tell you is that Surry leans toward the appreciation side of the spectrum: an appreciation score of 73 against a cash-flow score of 0 places this squarely in the category of a market you buy for price growth, not for day-one yield. The overall score of 65 and a national percentile rank of 68 out of 1,000 counties suggests a modestly above-average opportunity on a risk-adjusted basis, but not a standout cash-flow play.

Given the zero cash-flow score, this market does not suit a pure cash-flow buyer operating on conventional leverage at 6.85%. A buyer who needs the property to carry itself from month one should look elsewhere until rent comps can be validated. The appreciation score of 73 and the 2.34% price gain make a stronger case for a long-duration buy-and-hold investor who is comfortable with neutral or slightly negative carry in the early years, betting on continued price appreciation and eventual rent growth to improve the position. A value-add operator could find opportunities here given the affordability index of 68 and a median price below $290,000, particularly if distressed or underimproved inventory exists, but the very small population of 6,546 means deal flow will be thin and any significant renovation project faces a limited resale or rental pool.

No economic anchors or employer data were provided for Surry County, so it is not possible to characterize the local employment base or assess job-driven rental demand from this dataset. That gap is itself a signal worth taking seriously for a county of only 6,546 people. Thin population means thin tenant demand, and any investor underwriting here should independently verify whether the local rental market has enough depth to absorb vacancy without extended downtime.

The tax and insurance picture in Surry is relatively benign. At a state-average effective property tax rate of 0.82%, Virginia is on the lower end nationally, and the combined monthly tax and insurance burden on a $288,050 purchase comes to approximately $252 per month. That figure includes estimated annual property taxes of $2,362 and insurance of $663. The 0.82% rate carries a "normal" flag, meaning it is not a standout cost driver in either direction. That said, the caveat here is material: this is a state-average estimate based on Tax Foundation 2024 data, and actual Surry County or township-level rates can differ from that figure, so pull the county assessor's rate schedule before finalizing your model. At $252 per month in tax and insurance carry, the number is manageable if rents support it, but without confirmed rent data in this dataset, you are underwriting blind on the income side.

The principal risk in Surry County is concentration and scale. A population of 6,546 is micro-market territory. That means limited tenant demand, limited comparable sales for exit valuation, and high sensitivity to any single employer or demographic shift. Stability scores at 50, which is the midpoint, suggesting neither a high-confidence hold nor an obvious concern, but in a county this small, mean-reversion events carry outsized impact. An investor who acquires even two or three properties here has meaningful concentration in a market with no margin for error on occupancy.

The neighbor comparison is instructive. Roanoke City, at a median of $215,833 and a rent-to-price ratio of 0.0706, offers considerably better yield mechanics and a higher overall score of 67 than Surry's 65, all at a lower entry price. Prince George County at $346,630 and a rent-to-price ratio of 0.0640, and Rockingham County at $351,766 and 0.0635, both show meaningful rent-to-price ratios that Surry's data cannot currently match or even confirm. Roanoke County at $325,167 and a rent-to-price ratio of 0.0584 is pricier with a lower overall score of 64. If cash-flow mechanics matter to your underwrite, Roanoke City is the obvious comparison: lower price, better ratio, higher score. Choose Surry over its neighbors only if you have specific knowledge of an undervalued property, confirmed rent data that outperforms the missing county-level figure, or a deliberate strategy around land or appreciation that justifies the population and liquidity risk.