Market Overview
Home Prices in Bishop, VA
The median home value in Bishop, VA is $41,472 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 19.9% compared to a year ago and down 17.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Bishop are priced90% below average. Bishop is part of the Bluefield, WV-VA metro area.
Over the past five years, Bishop home values have fallen by approximately31.6%, reflecting softening conditions in this market.
Price History
Bishop Home Price Trend
City Comparison
Bishop vs. National Median
At $41,472, homes in Bishop cost 90% below the national median of $410,000. This makes Bishop a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Bishop?
20% Down Payment
$8,294
on $41,472
Monthly P&I
$216/mo
30-yr @ 6.8%
Total Monthly Est.
~$274/mo
incl. taxes & insurance
Income Needed
$10,960
gross annual (30% rule)
10% Down Option
$4,147
+ PMI applies
Loan Amount (20% dn)
$33,178
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Bishop, VA?
The median home value in Bishop is $41,472 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 19.9% year-over-year.
How much have home prices changed in Bishop?
Over the past year, home values in Bishop have decreased by 19.9%. Over five years, prices have fallen approximately 31.6%.
How much do I need to earn to buy a home in Bishop?
To comfortably afford the median home price of $41,472 with a 20% down payment ($8,294) at today's rates (6.8%), you'd need a gross annual income of approximately $10,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Bishop compare to the national average home price?
The national median home value is approximately $410,000. At $41,472, homes in Bishop are 90% below the national average.
What metro area is Bishop part of?
Bishop is part of the Bluefield, WV-VA metropolitan area. Home prices and market conditions can vary across the broader metro region.