Waynesboro city, Virginia Housing Market
In Waynesboro city, Virginia, the median home value is $245,500, with a median monthly rent of $1,020. This places Waynesboro city at #927 nationally out of 3134 counties by median home value, and #74 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: $926
- Establishments: 730
- BLS QCEW, 2025
Housing Supply
- Single-family: 196
- Multi-family: 157
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 10,075 (avg $62,014)
- Outflow: 9,171 (avg $63,205)
- IRS Statistics of Income
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| Metric | Waynesboro city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $245,500 | $295,807 | $227,706 |
| Median Gross Rent | $1,020 | $1,169 | $968 |
| Owner Occupancy Rate | 59.9% | 70.8% | 73.3% |
| Price/Rent Ratio | 20.1 | 20.3 | 18.7 |
Market Analysis
The median home value in Waynesboro city is 17.0% below the Virginia state average and 7.8% above the U.S. national average. The median rent of $1,020/month is 12.7% below the state average.
With a price-to-rent ratio of 20.1, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Waynesboro city has an owner-occupancy rate of 59.9%, 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 |
|---|---|---|---|
| Citrus County | Florida | $245,500 | $1,107 |
| Steele County | Minnesota | $245,400 | $1,061 |
| Logan County | Colorado | $245,300 | $1,013 |
| West Feliciana Parish | Louisiana | $245,700 | $1,049 |
| Hampton city | Virginia | $245,700 | $1,427 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Hampton city | $245,700 | $1,427 | 56.9% |
| Colonial Heights city | $246,600 | $1,234 | 68.1% |
| Portsmouth city | $246,900 | $1,300 | 57.9% |
| Rockbridge County | $248,800 | $925 | 79.3% |
| Charles City County | $241,400 | $1,099 | 86.3% |
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).