Market Overview
Home Prices in Pennington Gap, VA
The median home value in Pennington Gap, VA is $101,497 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.9% compared to a year ago and up 8.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Pennington Gap are priced75% below average.
Over the past five years, Pennington Gap home values have risen by approximately27.1%, reflecting strong long-term appreciation in this market.
Price History
Pennington Gap Home Price Trend
2020
$76,260
$76K
—
2021
$79,885
$80K
+4.8%
2022
$81,874
$82K
+2.5%
2023
$83,175
$83K
+1.6%
2024
$85,855
$86K
+3.2%
2025
$93,194
$93K
+8.5%
2026
$101,497
$101K
+8.9%
City Comparison
Pennington Gap vs. National Median
🏠 Pennington Gap
$101,497
National Median
$410,000
At $101,497, homes in Pennington Gap cost 75% below the national median of $410,000. This makes Pennington Gap a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Pennington Gap?
20% Down Payment
$20,299
on $101,497
Monthly P&I
$529/mo
30-yr @ 6.8%
Total Monthly Est.
~$672/mo
incl. taxes & insurance
Income Needed
$26,880
gross annual (30% rule)
10% Down Option
$10,150
+ PMI applies
Loan Amount (20% dn)
$81,198
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 Pennington Gap, VA?
The median home value in Pennington Gap is $101,497 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.9% year-over-year.
How much have home prices changed in Pennington Gap?
Over the past year, home values in Pennington Gap have increased by 8.9%. Over five years, prices have risen approximately 27.1%.
How much do I need to earn to buy a home in Pennington Gap?
To comfortably afford the median home price of $101,497 with a 20% down payment ($20,299) at today's rates (6.8%), you'd need a gross annual income of approximately $26,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Pennington Gap compare to the national average home price?
The national median home value is approximately $410,000. At $101,497, homes in Pennington Gap are 75% below the national average.