Market Overview
Home Prices in Buchanan, VA
The median home value in Buchanan, VA is $226,373 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.2% compared to a year ago and down 2.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Buchanan are priced45% below average. Buchanan is part of the Roanoke, VA metro area.
Over the past five years, Buchanan home values have risen by approximately15.0%, reflecting steady appreciation in this market.
Price History
Buchanan Home Price Trend
City Comparison
Buchanan vs. National Median
At $226,373, homes in Buchanan cost 45% below the national median of $410,000. This makes Buchanan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Buchanan?
20% Down Payment
$45,275
on $226,373
Monthly P&I
$1,181/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,500/mo
incl. taxes & insurance
Income Needed
$60,000
gross annual (30% rule)
10% Down Option
$22,637
+ PMI applies
Loan Amount (20% dn)
$181,098
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 Buchanan, VA?
The median home value in Buchanan is $226,373 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.2% year-over-year.
How much have home prices changed in Buchanan?
Over the past year, home values in Buchanan have increased by 4.2%. Over five years, prices have risen approximately 15.0%.
How much do I need to earn to buy a home in Buchanan?
To comfortably afford the median home price of $226,373 with a 20% down payment ($45,275) at today's rates (6.8%), you'd need a gross annual income of approximately $60,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Buchanan compare to the national average home price?
The national median home value is approximately $410,000. At $226,373, homes in Buchanan are 45% below the national average.
What metro area is Buchanan part of?
Buchanan is part of the Roanoke, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.