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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Pennington Gap, VA Housing Affordability Index

Pennington Gap, Virginia has an MBR Housing Affordability Index score of 123.2 (Highly Affordable) as of October 30, 2026, ranking 144th most affordable of 344 scored Virginia cities, compared with 94.8 statewide and 97.4 nationally. On a median-priced $92,900 home with 20% down, the Virginia average 30-year fixed rate of 7.33% means a monthly principal and interest payment of about $511, or 28% of the city’s $21,633 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Pennington Gap is updated every night from live Virginia mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Pennington Gap MBR-HAI 123.2 Highly Affordable
Rank in Virginia 144 of 344 1 = most affordable
Virginia 94.8 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.33% Virginia lenders
Median home value $92,900 U.S. Census Bureau

Pennington Gap is 28.3 points above the Virginia score. Scores as of October 30, 2026. See the Virginia index

View Pennington Gap Mortgage Rates

What It Takes to Buy in Pennington Gap

$511/mo
Principal & Interest
Median home, 20% down, 7.33%
$21,900
Income Needed
To keep the payment at 28% of income
$21,633
Median Household Income
Virginia: $93,170
4.3x
Price-to-Income Ratio
Virginia: 4.1x
$543/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$589/yr
Median Property Tax
0.63% of median value
46.9%
Owner Cost Burden
Owners spending 30%+ of income on housing
57.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Pennington Gap, Virginia. The rate is the Virginia average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Pennington Gap Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Pennington Gap, Virginia score: 123.2 (Highly Affordable), ranked 144 of 344 Virginia cities. monitorbankrates.com/housing-affordability-index/virginia/pennington-gap”