Market Overview
Home Prices in Penhook, VA
The median home value in Penhook, VA is $502,379 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.7% compared to a year ago and up 0.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penhook are priced23% above average. Penhook is part of the Roanoke, VA metro area.
Over the past five years, Penhook home values have risen by approximately23.8%, reflecting strong long-term appreciation in this market.
Price History
Penhook Home Price Trend
City Comparison
Penhook vs. National Median
At $502,379, homes in Penhook cost 23% above the national median of $410,000. Buyers in Penhook should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Penhook?
20% Down Payment
$100,476
on $502,379
Monthly P&I
$2,620/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,327/mo
incl. taxes & insurance
Income Needed
$133,080
gross annual (30% rule)
10% Down Option
$50,238
+ PMI applies
Loan Amount (20% dn)
$401,903
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 Penhook, VA?
The median home value in Penhook is $502,379 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.7% year-over-year.
How much have home prices changed in Penhook?
Over the past year, home values in Penhook have increased by 0.7%. Over five years, prices have risen approximately 23.8%.
How much do I need to earn to buy a home in Penhook?
To comfortably afford the median home price of $502,379 with a 20% down payment ($100,476) at today's rates (6.8%), you'd need a gross annual income of approximately $133,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Penhook compare to the national average home price?
The national median home value is approximately $410,000. At $502,379, homes in Penhook are 23% above the national average.
What metro area is Penhook part of?
Penhook is part of the Roanoke, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.