Market Overview
Home Prices in Wise, VA
The median home value in Wise, VA is $188,457 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.7% compared to a year ago and up 5.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wise are priced54% below average. Wise is part of the Big Stone Gap, VA metro area.
Over the past five years, Wise home values have risen by approximately32.4%, reflecting strong long-term appreciation in this market.
Price History
Wise Home Price Trend
2020
$122,685
$123K
—
2021
$142,350
$142K
+16.0%
2022
$159,512
$160K
+12.1%
2023
$167,772
$168K
+5.2%
2024
$173,997
$174K
+3.7%
2025
$183,424
$183K
+5.4%
2026
$188,457
$188K
+2.7%
City Comparison
Wise vs. National Median
🏠 Wise
$188,457
National Median
$410,000
At $188,457, homes in Wise cost 54% below the national median of $410,000. This makes Wise a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Wise?
20% Down Payment
$37,691
on $188,457
Monthly P&I
$983/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,248/mo
incl. taxes & insurance
Income Needed
$49,920
gross annual (30% rule)
10% Down Option
$18,846
+ PMI applies
Loan Amount (20% dn)
$150,766
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 Wise, VA?
The median home value in Wise is $188,457 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.7% year-over-year.
How much have home prices changed in Wise?
Over the past year, home values in Wise have increased by 2.7%. Over five years, prices have risen approximately 32.4%.
How much do I need to earn to buy a home in Wise?
To comfortably afford the median home price of $188,457 with a 20% down payment ($37,691) at today's rates (6.8%), you'd need a gross annual income of approximately $49,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Wise compare to the national average home price?
The national median home value is approximately $410,000. At $188,457, homes in Wise are 54% below the national average.
What metro area is Wise part of?
Wise is part of the Big Stone Gap, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.