#2 for appreciation over past 5 years
Richmond real estate blog the804.com has a look at home appreciation by neighborhood over the past 5 years, noting that Oregon Hill and Church Hill lead the city with average selling prices increasing 392% and 191% respectively.
It’s interesting that Oregon Hill leads the city in appreciation. With all the squabbling between VCU and Oregon Hill. Does the fact that VCU increasing student enrollment and the need for more student housing — somehow has helped Oregon Hill appreciate this high. It would be interesting to know — how many houses are rentals in Oregon Hill?? I guess it’s a love hate relationship for homeowners and investors…
According to Census 2000 data, which is almost useless now, Oregon Hill was 60% renter occupied. That’s not houses, however, but units- so if a house is split into multiple units, the Census counts each rental separately. Hence 2 houses where 1 is owner-occupied and 1 split into 3 units would count as 75% renter occupied.
I imagine the number of rentals has been decreasing given the rising property values.
If I remember correctly, the fan is 65% renter occupied.
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