Harrisonburg, VA—22802
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 $309,000, with a year-over-year change of 3.7%. 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 | $309,000 | 3.7% |
| Single Family | $314,000 | 4.0% |
| Condos | $230,000 | 7.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $246,000 | 5.1% |
3 Bed | $299,000 | 4.2% |
4 Bed | $426,000 | 4.4% |
| 5 Bed | $511,000 | 5.4% |
% of Housing Stock
Rental Trends — Harrisonburg, VA
As of July '25, Rentcast reports the average rent in Harrisonburg, VA is $1,550, with a year-over-year rent change of 3.3%. Per bedroom, the median rent as of July '25 in Harrisonburg, VA is 1-bedrooms: $1,070, 2-bedrooms: $1,470, 3-bedrooms: $1,770, 4-bedrooms: $1,510. The most common rental property sizes in Harrisonburg, VA are 3-bedroom and 2-bedroom, accounting for 38.8% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,550 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,180 | $1,070 |
| 2 Bed Rent | $1,500 | $1,470 |
| 3 Bed Rent | $1,750 | $1,770 |
| 4 Bed Rent | $825 | $1,510 |
% 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 47. This is a increase of 14.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $298,000 | -30.0% |
Listing Count | 57 | 42.0% |
| Listings as % of Homes | 0.2% | 42.0% |
Days on Market | 47 | 14.0% |
Demographics — Harrisonburg, VA
As of the latest ACS Survey released in 2023, Harrisonburg, VA has a population of 29,400, which has decreased by -1.8% over the past 5 years. Harrisonburg, VA is a moderately popular place for families, as children make up 23.1% of the population. The area has a moderately educated workforce, with 29.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,400 | -1.8% |
% Under 18 | 23.1% | 0.9% |
% Seniors | 15.6% | 13.9% |
% WFH | 8.4% | 115.4% |
% w/ College Degree | 29.5% | -0.7% |
As of the latest ACS Survey released in 2023, Harrisonburg, VA is a predominantly white area, with 62.4% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Harrisonburg, VA is hispanic, making up 26.0% of the population. Foreign-born residents account for 15.5% of the population in Harrisonburg, VA, and this percentage has decreased by 8.8% 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 | 62.4% | -6.6% |
% Black | 7.1% | -2.7% |
% Hispanic | 26.0% | 15.0% |
% Asian | 1.7% | -10.5% |
% Foreign Born | 15.5% | -8.8% |
Mortgage and Risk — Harrisonburg, VA
According to HUD data as of 2023, there were 322 mortgage originations in Harrisonburg, VA, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Harrisonburg, VA. Investor activity is low, as 8.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 322 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 8.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Harrisonburg, VA
As of 2024, the percent of homes in Harrisonburg, VA under the Section 8 program is 16.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Harrisonburg, VA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 507 |
Total Units Section 8 | 507 |
% Rentals under Section 8 | 16.7% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $1,180 | $1,030 |
| 2 Bedroom | -$180 | $1,500 | $1,320 |
| 3 Bedroom | $40 | $1,750 | $1,790 |
| 4 Bedroom | $1,365 | $825 | $2,190 |
Affordability — Harrisonburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $309,000 |
| Median Household Income | $62,100 |