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Cherry Hill

Learn about the people, housing, costs and businesses in Cherry Hill, Virginia

Median Home$495,277
Median Rent$2,116/month
Population26,443
Leading IndustriesHealthcare · Arts, Food & Hospitality · Education18% healthcare
Home Value Growth⬆⬆+15.6% over 2 years
Family-Friendly31% of residentstop 3% nationally
Homeowners65% of occupied units
NotableHigh Incomes$127k/year · top 7% nationally
NotableVeteran Community11% of residents · top 9% nationally
Cherry Hill
VA

Frequently Asked Questions

What are today's mortgage rates in Cherry Hill?

As of today, the 30-year fixed mortgage rate for Cherry Hill is approximately 6.830% (6.864% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Cherry Hill?

The median home value in Cherry Hill is $495k. The median monthly rent is $2,116. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cherry Hill?

Home values in Cherry Hill have increased 15.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Cherry Hill?

Based on a typical all-in ownership cost of $2,346/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $101k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cherry Hill is $127k/year.

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What industries drive the economy in Cherry Hill?

The largest employment sectors in Cherry Hill are public administration (27%) and healthcare (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.