Market Overview
Home Prices in Fancy Gap, VA
The median home value in Fancy Gap, VA is $240,688 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.9% compared to a year ago and down 3.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Fancy Gap are priced41% below average.
Over the past five years, Fancy Gap home values have risen by approximately31.8%, reflecting strong long-term appreciation in this market.
Price History
Fancy Gap Home Price Trend
2020
$162,468
$162K
—
2021
$182,665
$183K
+12.4%
2022
$207,662
$208K
+13.7%
2023
$220,016
$220K
+5.9%
2024
$235,814
$236K
+7.2%
2025
$227,364
$227K
-3.6%
2026
$240,688
$241K
+5.9%
City Comparison
Fancy Gap vs. National Median
🏠 Fancy Gap
$240,688
National Median
$410,000
At $240,688, homes in Fancy Gap cost 41% below the national median of $410,000. This makes Fancy Gap a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Fancy Gap?
20% Down Payment
$48,138
on $240,688
Monthly P&I
$1,255/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,594/mo
incl. taxes & insurance
Income Needed
$63,760
gross annual (30% rule)
10% Down Option
$24,069
+ PMI applies
Loan Amount (20% dn)
$192,550
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 Fancy Gap, VA?
The median home value in Fancy Gap is $240,688 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.9% year-over-year.
How much have home prices changed in Fancy Gap?
Over the past year, home values in Fancy Gap have increased by 5.9%. Over five years, prices have risen approximately 31.8%.
How much do I need to earn to buy a home in Fancy Gap?
To comfortably afford the median home price of $240,688 with a 20% down payment ($48,138) at today's rates (6.8%), you'd need a gross annual income of approximately $63,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Fancy Gap compare to the national average home price?
The national median home value is approximately $410,000. At $240,688, homes in Fancy Gap are 41% below the national average.