Shenandoah County, Virginia Housing Market
In Shenandoah County, Virginia, the median home value is $294,900, with a median monthly rent of $984. This places Shenandoah County at #651 nationally out of 3134 counties by median home value, and #57 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: $986
- Establishments: 1,109
- BLS QCEW, 2025
Housing Supply
- Single-family: 191
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 19,257 (avg $81,241)
- Outflow: 18,200 (avg $81,528)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Shenandoah County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 22824 | 271.0 | +6.44% | 2025 |
| 2 | 22652 | 300.8 | +6.08% | 2025 |
| 3 | 22644 | 297.6 | +7.80% | 2025 |
| 4 | 22664 | 277.1 | +6.53% | 2025 |
| 5 | 22657 | 287.9 | -1.22% | 2025 |
| 6 | 22842 | 265.9 | +4.14% | 2025 |
| 7 | 22660 | 303.4 | +10.31% | 2024 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Shenandoah County, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Shenandoah County →How Shenandoah County Compares
| Metric | Shenandoah County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $294,900 | $295,807 | $227,706 |
| Median Gross Rent | $984 | $1,169 | $968 |
| Owner Occupancy Rate | 73.3% | 70.8% | 73.3% |
| Price/Rent Ratio | 25.0 | 20.3 | 18.7 |
Market Analysis
The median home value in Shenandoah County is about equal to the Virginia state average and 29.5% above the U.S. national average. The median rent of $984/month is 15.8% below the state average.
With a price-to-rent ratio of 25.0, Shenandoah County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Shenandoah County has an owner-occupancy rate of 73.3%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Atlantic County | New Jersey | $295,000 | $1,376 |
| Barrow County | Georgia | $294,700 | $1,318 |
| Rabun County | Georgia | $295,200 | $1,047 |
| Albany County | New York | $294,600 | $1,313 |
| Union County | Oregon | $294,600 | $982 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Prince George County | $293,400 | $1,594 | 74.3% |
| Bedford County | $297,400 | $952 | 84.7% |
| Harrisonburg city | $299,100 | $1,184 | 39.5% |
| Norfolk city | $289,900 | $1,321 | 46.3% |
| Botetourt County | $289,200 | $1,035 | 85.5% |
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).