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Springville

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

Median Home$164,001
Median Rent$889/month
Population1,066
Leading IndustriesRetail · Manufacturing · Public Administration21% retail
Home Value Growth+7.4% over 2 years
Retirees22% of residentsnear the national average
Homeowners84% of occupied units
Springville
VA

Frequently Asked Questions

What are today's mortgage rates in Springville?

As of today, the 30-year fixed mortgage rate for Springville is approximately 7.397% (7.451% 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 Springville?

The median home value in Springville is $164k. The median monthly rent is $889. Annual property taxes average $908. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Springville?

Home values in Springville have increased 7.4% over the past two years. This represents moderate growth. 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 Springville?

Based on a typical all-in ownership cost of $766/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $33k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Springville is $65k/year.

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What industries drive the economy in Springville?

The largest employment sectors in Springville are public administration (26%) and retail (21%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.