As-is Deals in Pennington Gap, VA

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View this home at Stonegate Dr Apt 335 Pennington Gap VA 24277
View this home at Elk Knob Rd Pennington Gap VA 24277
$45,645 EMV
1 View this home at Tomlinson Rd Pennington Gap VA 24277
$59,900 List Price

3 Bed | 1 Bath | 1,152 Sq. Ft.

View this home at Pearl St Pennington Gap VA 24277
$32,767 EMV

3 Bed | 2 Bath

View this home at Oakwood Ave Pennington Gap VA 24277
$294,315 EMV
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Home Value Estimator For Pennington Gap, VA

There are currently 1,984 real estate properties in Pennington Gap, VA, with a median automated valuation model (AVM) price of $83,774.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Pennington Gap, VA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Pennington Gap, VA, is $110,568.00, with the most expensive house in Pennington Gap, VA, topping out at $1,275,000.00 and the cheapest home in Pennington Gap, VA, clocking in at $6,381.00. In other words, there’s something for every potential homebuyer or savvy investor in Pennington Gap, VA!

Rent Prices In Pennington Gap, VA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Pennington Gap, VA, is on a rollercoaster ride. The average rent price in Pennington Gap, VA, is $793.00. Indeed, when looking to rent in Pennington Gap, VA, you can expect to pay as little as $470.00 or as much as $1,950.00, with the average rent median estimated to be $720.00. The good news is that finding an affordable and desirable property to rent in Pennington Gap, VA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Pennington Gap, VA In 2024

Pennington Gap is located in Lee, Virginia, with an estimated municipal population of 1,721 residents. All of the best foreclosed homes for sale in Pennington Gap are located in the following zip code areas on 24277 24218. The estimated population per square kilometer (.62 miles) in Pennington Gap is 398.

Cost Of Living In Pennington Gap, VA

So, about how much do homes cost in Pennington Gap? The most recent median value of resident-owned homes in Pennington Gap is 79,815. An estimated 45.1 percent of households in Pennington Gap own their homes, with an average family size of 3.11. The median household income in Pennington Gap is 19,452, with9.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Pennington Gap, the median commute time of resident workers (in minutes) is 20.4. And last, but certainly not least, are you looking for homes to rent in Pennington Gap? If so, the average rent price paid by renters in Pennington Gap is 547, according to recent statistics.

Diversity And Demographics In Pennington Gap, Virginia

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Pennington Gap, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Pennington Gap is 46.3, split between 48.9 percent male versus 51.1 female. The percentage of residents who report being married in Pennington Gap is 40.1, with an average family size of 3.11.

The percentage of residents who report their race in Pennington Gap is as follows:

White 89.1%
Black / African American 7.6%
Asian 0%
American Indian / Alaskan Native 0.2%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 3.1%
Other 0%

Looking for family-friendly neighborhoods in and/or near Pennington Gap? Or maybe you are searching for 55+ active adult communities in and/or near Pennington Gap?

The percentage of residents who report their age in Pennington Gap is as follows:

Under 10 12.4%
Aged 10-19 7.1%
20s 10.1%
30s 13.9%
40s 10.9%
50s 13.8%
60s 15.1%
70s 8.5%
80+ 8.3%

Best Schools In Pennington Gap, Virginia

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Pennington Gap with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Pennington Gap.

Pros And Cons Of Living In Pennington Gap, Virginia

How do you know that living in -- or moving to -- Pennington Gap is right where you need to be? Perhaps you grew up in Pennington Gap or already live nearby; therefore, the decision to buy a home in Pennington Gap is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Pennington Gap for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Pennington Gap:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Pennington Gap.

Reasons To Move To Pennington Gap, Virginia, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Pennington Gap can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Pennington Gap, meanwhile, can field multiple offers from more qualified buyers.

Pennington Gap, VA As-is Deals


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