Drakes Branch: Housing & Real Estate
Drakes Branch's median home value is $111,000 (estimated market value runs 20% higher at $133,555), with median rent $569 (1.3× below Charlotte County median $732; 2.8× below Virginia median $1,579). Homeownership rate: 68.5%. That's 1.3× below the Charlotte County median ($144,100); 3.5× below the Virginia median ($383,700). Market is warm. Vacancy rate 26.1%. New construction makes up 9.6% of stock. A municipal building code is in effect.
- 4.3× annual income — home value vs. household income (vs Virginia 4.1×).
- 16.3 years to break even renting at the median (vs Virginia 19y).
- 4-BR rent is 2.2× a studio — rent gradient by unit size.
- Median rent 37% below HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $111,000 — 0.3× the Virginia median ($382,500). Median rent $569/month. homeownership rate 68.5% — above the U.S. share of ~65%.
| Affordability · Home Price To Income | 4.3× |
|---|---|
| Affordability · Home Affordability | moderate |
| Affordability · Rent Pct Income | 23.0% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 29.1% |
| Affordability · Poverty Rate | 14.9% |
| Affordability · Property Tax Pct Income | 2.7% |
| Fair Market Rent · Studio rent | $692 (vs Virginia $1,492) |
| Fair Market Rent · One-bedroom rent | $697 (vs Virginia $1,512) |
| Fair Market Rent · Two-bedroom rent | $914 (vs Virginia $1,713) |
| Fair Market Rent · Three-bedroom rent | $1,146 (vs Virginia $2,376) |
| Fair Market Rent · Four-bedroom rent | $1,533 (vs Virginia $2,797) |
| Fair Market Rent · HUD FMR area | Charlotte County, VA |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $133,555 |
| Median Home Value | $111,000 (vs Virginia $382,500) |
| Median Rent | $569 (vs Virginia $1,714) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | warm |
|---|---|
| Housing Market · Vacancy rate | 26.1% |
| Housing Market · New construction (% of stock) | 9.6% |
| Housing Market · Price Appreciation 2Yr | -6.8% |
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Systems (1)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% (at Virginia median) |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% (at Virginia median) |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% (at Virginia median) |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 79.4% (vs Virginia 49.4%) |
| Broadband · Broadband-capable premises | 344 |
| Electricity · Electricity rate (¢/kWh) | 14.41¢/kWh |
| Electricity · Customers | 3654481 |
| Electricity · Revenue Millions | $6,524 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0.000000000 |
| Mobile Broadband · 4G mobile coverage | 1.000000000 (at Virginia median) |
| Mobile Broadband · 5G mobile coverage | 1.000000000 (at Virginia median) |
| Mobile Home Parks Detail · County total | 2 |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · HIFLD / IRS BMF · Refreshed 2026-04-12
Other
| Homeownership Rate | 68.5% (vs Virginia 64.4%) |
|---|---|
| Median Year Built | 1970 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12