Harrisonburg city, Virginia Housing Market
In Harrisonburg city, Virginia, the median home value is $299,100, with a median monthly rent of $1,184. This places Harrisonburg city at #628 nationally out of 3134 counties by median home value, and #55 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $960
- Establishments: 1,688
- BLS QCEW, 2025
Housing Supply
- Single-family: 158
- Multi-family: 4
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 15,605 (avg $63,920)
- Outflow: 14,619 (avg $65,020)
- IRS Statistics of Income
🔗 Explore Harrisonburg city on Our Sister Sites
Get the complete picture for Harrisonburg city — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Harrisonburg city Compares
| Metric | Harrisonburg city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $299,100 | $295,807 | $227,706 |
| Median Gross Rent | $1,184 | $1,169 | $968 |
| Owner Occupancy Rate | 39.5% | 70.8% | 73.3% |
| Price/Rent Ratio | 21.1 | 20.3 | 18.7 |
Market Analysis
The median home value in Harrisonburg city is 1.1% above the Virginia state average and 31.4% above the U.S. national average. The median rent of $1,184/month is 1.3% above the state average.
With a price-to-rent ratio of 21.1, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Harrisonburg city has an owner-occupancy rate of 39.5%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Madison County | Alabama | $299,200 | $1,209 |
| Pender County | North Carolina | $299,000 | $1,106 |
| Greenville County | South Carolina | $299,000 | $1,262 |
| Sevier County | Tennessee | $299,000 | $1,072 |
| Clarke County | Georgia | $298,900 | $1,219 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Bedford County | $297,400 | $952 | 84.7% |
| Shenandoah County | $294,900 | $984 | 73.3% |
| Montgomery County | $304,600 | $1,240 | 55.3% |
| Prince George County | $293,400 | $1,594 | 74.3% |
| Augusta County | $306,100 | $1,136 | 80.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).