Housing Report for Charlottesville

In Charlottesville, the U.S. Census Bureau, Population Division accounted for a total of 83,430 homes in 2005. The metro area has experienced a medium-high growth level in the number housing units, adding in all 8,007 housing units since the year 2001, or 10.6 percent.

The residential home values in Charlottesville, Virginia have seen large increases since the Census values accounted for in the year 2000. The values have increased by $89,300, or 65.6 percent, since 2000 when their medians were valued at $136,200.

Throughout the State of Virginia, Charlottesville is positioned 1 of the 9 metro areas by percentage growth in residential real estate. The metro area is positioned 57 of 361, in terms of residential real estate percentage change compared to other United States metro areas.

Charlottesville had an owner-occupied dwelling median in 2005 of $225,500, reported by the American Community Survey. This is greater than the Virginia 2005 median home value of $212,300 and greater than median owner-occupied dwelling value of $167,500 across the United States during the same year.

It can be understood that there is a limited amount of housing that is affordable in Charlottesville, Virginia. In 2005, only 17.6 percent of the homes were valued under $125,000.

Charlottesville can be understood as having a relatively high percentage of homes that are high in price. For 2005, the American Community Survey counted that 11.8 percent of owner-occupied dwellings were valued over a half a million dollars.

Data Source: U.S. Census Bureau

Employment Report for Charlottesville, Virginia -- Annual 2005 Industry Summary

Manufacturing has a largest number of employees per establishment in Charlottesville MSA, with the industry averaging 25 workers per each place of employment, being less than the industry's average in the United States of 39 and less than the State of Virginia average of 48 for the Manufacturing industry.

The Accommodation and food services industry decreased the most in percent of total employment in the Charlottesville Metropolitan Area since 2001, going from making up 13.1 percent of employment in 2001 to 0 percent in 2005.

In Charlottesville, Retail Trade, Health care and social assistance, and the Construction sectors, in terms of total employment, are the largest. Retail Trade provides the most jobs and contributes 16.9 percent of total employment in the Metro Area, making up 10,800 individuals. The Health care and social assistance and Construction industries make up 12.2 and 9.9 percent of all employment.

The Charlottesville is the Metropolitain Area that is ranked 211 of 363 throughout the US by total number of jobs in 2005. This position has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 208 of 363 Counties.

Construction saw the biggest increase in jobs since the year 2001 in Charlottesville, with an industry growth of 10.3 percent. This is greater than the change in industry employment in the United States of 7.3 percent. The State of Virginia saw a change in employment in the sector of 12.3 percent, during the period of 2001 to 2005.

In Charlottesville, Construction, Other services, except public administration and Professional and technical services industries, in terms of United States location quotient, are the most dominant in the region. The Construction sector in the county has a location quotient of 1.51. The level of employment in the Construction industry is 1.51 times greater than the national average, signifying that Charlottesville may be an exporter of products or services of Construction.

A top paying industry in Charlottesville is the finance and insurance industry with an average annual wage of $59,334. Locally, since the year 2001, the industry annual average pay has grown by 24.6 percent or $11,722. The State of Virginia reflects a similar economic condition in the finance and insurance industry, falling near the top of sectors according to average 2004 industry pay.



Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).