Harrisonburg, VA—22801
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Harrisonburg, VA
Home Price Trends — Harrisonburg, VA
As of Oct '25, the median home price in Harrisonburg, VA is $366,000, with a year-over-year change of 3.8%. This indicates that home prices in Harrisonburg, VA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $366,000 | 3.8% |
| Single Family | $373,000 | 4.2% |
| Condos | $237,000 | 6.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $258,000 | 4.9% |
3 Bed | $345,000 | 3.9% |
4 Bed | $428,000 | 4.6% |
| 5 Bed | $588,000 | 3.9% |
% of Housing Stock
Rental Trends — Harrisonburg, VA
As of July '25, Rentcast reports the average rent in Harrisonburg, VA is $1,530, with a year-over-year rent change of 3.4%. Per bedroom, the median rent as of July '25 in Harrisonburg, VA is studios: $1,090, 1-bedrooms: $1,200, 2-bedrooms: $1,480, 3-bedrooms: $1,930, 4-bedrooms: $1,460. The most common rental property sizes in Harrisonburg, VA are 2-bedroom and 4-bedroom, accounting for 31.9% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,530 |
| Studio Rent | $895 | $1,090 |
| 1 Bed Rent | $1,050 | $1,200 |
| 2 Bed Rent | $1,380 | $1,480 |
| 3 Bed Rent | $1,980 | $1,930 |
| 4 Bed Rent | $825 | $1,460 |
% of Rental Stock
Property Listings — Harrisonburg, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Harrisonburg, VA is 53. This is a increase of 18.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $470,000 | 18.0% |
Listing Count | 151 | 26.0% |
| Listings as % of Homes | 0.8% | 26.0% |
Days on Market | 53 | 18.0% |
Demographics — Harrisonburg, VA
As of the latest ACS Survey released in 2023, Harrisonburg, VA has a population of 39,900, which has decreased by -1.9% over the past 5 years. Harrisonburg, VA is a moderately popular place for families, as children make up 18.1% of the population. The area has a moderately educated workforce, with 42.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,900 | -1.9% |
% Under 18 | 18.1% | 5.2% |
% Seniors | 12.7% | 15.5% |
% WFH | 8.2% | 121.6% |
% w/ College Degree | 42.5% | 2.7% |
As of the latest ACS Survey released in 2023, Harrisonburg, VA is a predominantly white area, with 68.0% of the population identifying as white. The white population has shrunk by 5.6% in the last 5 years. The second most common race or ethnicity in Harrisonburg, VA is hispanic, making up 18.0% of the population. Foreign-born residents account for 15.9% of the population in Harrisonburg, VA, and this percentage has decreased by 1.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.0% | -5.6% |
% Black | 6.4% | 14.3% |
% Hispanic | 18.0% | 12.5% |
% Asian | 2.9% | -25.6% |
% Foreign Born | 15.9% | -1.2% |
Mortgage and Risk — Harrisonburg, VA
According to HUD data as of 2023, there were 596 mortgage originations in Harrisonburg, VA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Harrisonburg, VA. Investor activity is low, as 6.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 596 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Harrisonburg, VA
As of 2024, the percent of homes in Harrisonburg, VA under the Section 8 program is 4.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Harrisonburg, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 308 |
Total Units Section 8 | 308 |
% Rentals under Section 8 | 4.5% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,050 | $1,230 |
| 2 Bedroom | $190 | $1,380 | $1,570 |
| 3 Bedroom | $140 | $1,980 | $2,120 |
| 4 Bedroom | $1,785 | $825 | $2,610 |
Affordability — Harrisonburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $366,000 |
| Median Household Income | $70,800 |