Median Home Price
$473,134.72
Median Rent
$2,056.59/mo
Price-to-Rent Ratio
19.2
Property Tax RateTIE
0.82%
Price Change (1Y)
-0.2%
Price Change (5Y)
-1.1%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$252,970
Median Home PriceBETTER
$355,756.62
Median RentBETTER
$1,578.37/mo
Price-to-Rent RatioBETTER
18.8
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+0.2%
Price Change (5Y)BETTER
+0.9%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$246,961
Key Differences
Home Prices
Charlottesville's median home price of $473,134.72 is higher than Richmond's $355,756.62 by 33%.
Monthly Rent
Renting in Charlottesville costs $2,056.59/mo compared to $1,578.37/mo in Richmond—a difference of $478.22/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.