The story of this market
The typical home in ZIP 22903 sells for about $597,000, or $280 per square foot.
Prices are down 2.03% from a year ago, which gives buyers more room to negotiate. Homes take about 40 days to sell. HUD's fair market rent for a two-bedroom is $1,580 a month.
ZIP 22903 — Charlottesville
The 22903 housing market is currently experiencing a period of price moderation with a median listing price of $597,000. While inventory remains available, the market is seeing a shift in listing times and a decline in rental prices, suggesting a cooling trend compared to previous periods.
This area is ideal for university-affiliated individuals, students, and professionals who value proximity to the city's academic and cultural core.
Median prices moved down 2.0% year over year.
Homes spend a median of 40 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 21.1% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 22903
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by Charlottesville City Public Schools, which generally maintain a strong reputation for academic performance within the region.
The area is anchored by the University of Virginia, which serves as a primary economic driver and major employer, fostering consistent demand for housing and services.
Property taxes are assessed at the local level by the city and county; specific rates and exemptions are determined by the respective jurisdictions.
The ZIP code is centrally located in Charlottesville, providing convenient access to the University of Virginia and downtown employment hubs via local arterial roads.
Residents have access to numerous parks, trails, and the cultural amenities of the University of Virginia, alongside diverse shopping and dining options in the city center.
The rental market is robust due to the university presence, though recent trends show a decline in asking rents, shifting some leverage toward tenants.
The economy is heavily influenced by the University of Virginia and the associated healthcare and research sectors.
The area is served by local bus transit and is well-connected to major regional highway corridors.
Development is largely focused on infill projects and university-related infrastructure improvements.
Parcels are subject to city or county tax levies and standard utility service districts.
Data sourced from US Census Bureau ZCTA profiles.
A major anchor institution and UNESCO World Heritage site.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.