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New River

Learn about the people, housing, costs and businesses in New River, Virginia

Median Home$226,683
Median Rent$1,441/month
Population236
Leading IndustriesRetail · Public Administration · Professional Services21% retail
Home Value Growth⬆⬆+19.3% over 2 years
Retirees27% of residentsabove average nationally
Homeowners82% of occupied units
NotableVeteran Community11% of residents · top 9% nationally
NotableHighly Educated28% hold a bachelor's degree · top 12% nationally
New River
VA

Frequently Asked Questions

What are today's mortgage rates in New River?

As of today, the 30-year fixed mortgage rate for New River is approximately 6.900% (6.936% 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 New River?

The median home value in New River is $227k. The median monthly rent is $1,441. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New River?

Home values in New River have increased 19.3% 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 New River?

Based on a typical all-in ownership cost of $932/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $40k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New River is $67k/year.

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What industries drive the economy in New River?

The largest employment sectors in New River are public administration (31%) and retail (21%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.