A Master Plan for Courthouse Village - College of Humanities and ...

Housing
As was the case stated in the Centerville
Village Plan, affordable housing is a major
concern not only in each of the villages, but
throughout Goochland County. Currently
the construction of single-family homes on
large lots has priced many residences out
of the range of many prospective
homebuyers (Shelton, 2004). The lowest
sale price occurred for one newlyconstructed
starter home in 2003, for
$149,950. There has not been another
under $150,000 since. Most sales under
$200,000 are small homes in older
subdivisions such as Shannon Hill Estates and Tabscott East in western
Goochland (Bowles, 2006). According to the 2000 Census, 28% of Goochland’s
households have an income of less than $35,000 and therefore cannot afford a
$150,000 home. Additionally, many who fall in the middle income bracket, such
as young professionals, teachers, County workers and aging, long-term residents
also cannot afford to live in Goochland. The average value of a new home in
2005 was over $500,000, well beyond the price-range of many of Goochland’s
residents (Bowles, 2006). The following graph illustrates the rising cost of
housing trend in Goochland over the past few years and compares home
assessed value with actual sales price, which is considerably higher.
Graph 1: Housing Trends (2000-2005)
Figure 12: Typical New Housing Construction in
Goochland County. Source: Shelton, 2004
House Value
Sale Price
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1 2 3 4 5 6
Year
Source: Discussion with Knight Bowels, April 25, 2006
A Master Plan for Courthouse Village Page 36 of 96
Spring, 2006
Goochland County