Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 33,365 ↓ 0.3% since 2020 |
| Median Household Income | $50,741 32% below national median |
| Median Home Value | $157,900 |
| Unemployment Rate | 11.1% |
| Median Age | 35.8 years |
| Housing Vacancy Rate | 17.6% |
| Total Land Sales (Past 12 Months) | 95 transactions |
| Active Listings | 12 properties |
| Avg Days on Market | 624 days |
Rural Land Sales (1+ Acres) (Apr 2025 – Dec 2025)
| Metric | Value |
|---|---|
| Median Price/Acre | $10,967 |
| Recent Sales | 11 transactions |
| Avg Days on Market | 439 days |
| Avg Parcel Size | 21.50 acres |
| Active Listings | 4 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Dec 2025 | 4.24 | $46,500 | $10,967 | Petersburg |
| Oct 2025 | 19.25 | $80,000 | $4,156 | Petersburg |
| Apr 2025 | 6.57 | $63,000 | $9,589 | Petersburg |
Suburban/Urban Land Sales (Under 1 Acre) (Nov 2025 – Mar 2026)
| Metric | Value |
|---|---|
| Median Lot Price | $15,000 |
| Recent Sales | 84 transactions |
| Avg Days on Market | 648 days |
| Avg Parcel Size | 0.20 acres |
| Active Listings | 8 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Mar 2026New | 0.45 | $112,000 | Petersburg |
| Mar 2026New | 0.23 | $140,000 | Petersburg |
| Mar 2026New | 0.32 | $23,000 | Petersburg |
| Mar 2026New | 0.06 | $25,000 | Petersburg |
| Jan 2026 | 0.17 | $162,000 | Petersburg |
| Jan 2026 | 0.16 | $33,000 | Petersburg |
| Jan 2026 | 0.15 | $35,000 | Petersburg |
| Nov 2025 | 0.17 | $40,050 | Petersburg |
| Nov 2025 | 0.11 | $25,000 | Petersburg |
| Nov 2025 | 0.22 | $6,000 | Petersburg |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 33,365 |
| Population (2020) | 33,458 |
| Population Growth | -0.28% |
| Median Household Income | $50,741 |
| Median Home Value | $157,900 |
| Total Housing Units | 18,026 |
| Vacant Housing Units | 3,172 |
| Housing Vacancy Rate | 17.6% |
| Median Age | 35.8 |
| Bachelor's Degree or Higher | 3,518 (10.5%) |
| Unemployment Rate | 11.1% |
Market Overview
Petersburg city, Virginia has a population of 33,365, which has declined 0.28% since 2020. The median household income is $50,741, below the national median of $74,580 by 32.0%. The housing vacancy rate of 17.6% suggests soft market conditions. As part of Virginia, Petersburg city benefits from the state's growing interest in vacant land investment. Recent rural land sales show a median price of $10,967 per acre, with properties averaging 21.50 acres. There are currently 12 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Petersburg city, Virginia?
As of the 2023 American Community Survey, Petersburg city has a population of 33,365. The county has declined 0.28% since the 2020 Census.
What is the median household income in Petersburg city?
The median household income in Petersburg city is $50,741, which is 32.0% below the national median of $74,580.
Is Petersburg city growing or shrinking?
Petersburg city is shrinking. The population has declined 0.28% since 2020.
What is the housing market like in Petersburg city?
The median home value in Petersburg city is $157,900. The housing vacancy rate is 17.6%, which suggests soft market conditions. The unemployment rate is 11.1%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $10,967 per acre. Suburban/urban lots under 1 acre have a median lot price of $15,000.
Does Reelvest buy land in Petersburg city, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Petersburg city. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.