Waynesboro, Virginia Housing Market Prices
Waynesboro Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 84% below the Virginia median$39,738
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Median rent 35% below the Virginia median$1,020
Housing Market Overview
| Metric | Waynesboro | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,738 | $256,082 | $248,835 |
| Price Trend (Annual %) | 5.5% | 3.5% | 7.5% |
| Median Gross Rent | $1,020 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Waynesboro is about 84% lower than in Virginia. Rent is about 35% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Waynesboro, up about 5.5% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Waynesboro rose about 28.6% between 2015 and 2024, from $793 to $1,020. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Waynesboro.
Buying the median-priced home in Waynesboro costs roughly 3.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Waynesboro. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Waynesboro | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,738 | $256,082 | $248,835 |
| Median Household Income | $60,068 | $93,527 | $80,455 |
| Price-to-Income Ratio | 0.7 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Waynesboro fell about 31.0%, while median household income rose about 36.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Waynesboro | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 61.5% | 58.5% |
| Rental Rate | 37.5% | 29.8% | 31.2% |
| Vacancy Rate | 6.3% | 8.7% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Waynesboro has a homeownership rate of 56.1%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 6.3%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Waynesboro | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1972 | 1982 | 1978 |
| Median Number of Rooms | 5.6 | 6.0 | 5.5 |
The typical housing unit in Waynesboro was built around 1972. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Waynesboro, Virginia.
What is the median home price in Waynesboro, Virginia?
The median home price in Waynesboro, Virginia is $39,738, lower than the Virginia average of $256,082.
What is the average home price in Waynesboro, Virginia?
The typical home price in Waynesboro, Virginia, reported as the median sale price, is $39,738. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Waynesboro, Virginia?
The median gross rent in Waynesboro, Virginia is $1,020 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Waynesboro in 2020?
In 2020, the median gross rent in Waynesboro, Virginia was $789 per month.
What is the price-to-rent ratio in Waynesboro, Virginia?
The price-to-rent ratio in Waynesboro, Virginia is about 3.2, meaning it would take roughly 3.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Waynesboro.
Are home prices or rent rising faster in Waynesboro, Virginia?
Both home prices and rent are rising in Waynesboro, up about 5.5% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Waynesboro, Virginia?
56.1% of households in Waynesboro, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Waynesboro, Virginia?
The housing vacancy rate in Waynesboro, Virginia is 6.3%, lower than the Virginia average of 8.7%.
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