Waynesboro, VA Real Estate Market
Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Waynesboro, VA Housing Market Trends
With a population of 22,808, 9,431 total housing units (homes and apartments), and a median house value of $300,396, Waynesboro real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Waynesboro, accounting for 67.02% of the city's housing units. Other types of housing that are prevalent in Waynesboro include large apartment complexes or high rise apartments ( 20.27%), duplexes, homes converted to apartments or other small apartment buildings ( 8.65%), and a few row houses and other attached homes ( 3.15%).
The most prevalent building size and type in Waynesboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.31% owning and 43.69% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waynesboro's housing was primarily built during this period, from the '40s through the '60s. A full 37.94% of the city's housing hails from this era. Other housing ages represented in Waynesboro include homes built between 1970-1999 ( 35.84%) and housing constructed between 2000 and later ( 15.68%). There's also some housing in Waynesboro built before 1939 ( 10.55%).
Waynesboro Home Appreciation Rates
Waynesboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Waynesboro during the period has been just 5.59%, which is lower than 70% of US communities.
Over the last year, Waynesboro appreciation rates have trailed the rest of the nation. In the last twelve months, Waynesboro's appreciation rate has been 4.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waynesboro were at 3.27%, which equates to an annual appreciation rate of 13.71%.
Importantly, this makes Waynesboro one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Virginia, our data show that Waynesboro's latest annual appreciation rate is lower than 70% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Waynesboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waynesboro - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waynesboro real estate investment or home purchase decisions.
Median Home Value
$300,396
Average
for Virginia
Average
for nation
Number of Homes And Apartments:
9,431
VA
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$1,637 / per month