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Groveton

Learn about the people, housing, costs and businesses in Groveton, Virginia

Median Home$576,485
Median Rent$2,273/month
Population13,933
Leading IndustriesHealthcare · Arts, Food & Hospitality · Wholesale Trade22% healthcare
Home Value Growth⬆⬆+12.5% over 2 years
Young Adults31% of residentsabove average nationally
Homeowners54% of occupied units
NotableTransit83/100 · excellent transit access
NotableHigh Incomes$114k/year · top 11% nationally
Groveton
VA

Frequently Asked Questions

What are today's mortgage rates in Groveton?

As of today, the 30-year fixed mortgage rate for Groveton is approximately 6.828% (6.862% 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 Groveton?

The median home value in Groveton is $576k. The median monthly rent is $2,273. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Groveton?

Home values in Groveton have increased 12.5% 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 Groveton?

Based on a typical all-in ownership cost of $2,114/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $91k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Groveton is $114k/year.

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What industries drive the economy in Groveton?

The largest employment sectors in Groveton are healthcare (22%) and public administration (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.