Waynesboro, VA—22980
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waynesboro, VA
As of Oct '25, the median home price in Waynesboro, VA is $304,000, with a year-over-year change of 2.9%. This indicates that home prices in Waynesboro, VA are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $304,000 | 2.9% |
| Single Family | $304,000 | 2.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $208,000 | 2.5% |
3 Bed | $297,000 | 2.8% |
4 Bed | $395,000 | 3.7% |
| 5 Bed | $471,000 | 3.5% |
% of Housing Stock
Rental Trends — Waynesboro, VA
As of July '25, Rentcast reports the average rent in Waynesboro, VA is $1,660, with a year-over-year rent change of 7.1%. Per bedroom, the median rent as of July '25 in Waynesboro, VA is 1-bedrooms: $1,050, 2-bedrooms: $1,400, 3-bedrooms: $2,090, 4-bedrooms: $2,580. The most common rental property sizes in Waynesboro, VA are 2-bedroom and 3-bedroom, accounting for 50.6% and 20.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,540 | $1,660 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $1,050 |
| 2 Bed Rent | $1,300 | $1,400 |
| 3 Bed Rent | $2,080 | $2,090 |
| 4 Bed Rent | $2,650 | $2,580 |
% of Rental Stock
Property Listings — Waynesboro, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Waynesboro, VA is 49. This is a decrease of -19.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $351,000 | -14.0% |
Listing Count | 187 | 13.0% |
| Listings as % of Homes | 0.8% | 13.0% |
Days on Market | 49 | -19.0% |
Demographics — Waynesboro, VA
As of the latest ACS Survey released in 2023, Waynesboro, VA has a population of 32,800, which has increased by 2.9% over the past 5 years. Waynesboro, VA is a moderately popular place for families, as children make up 21.4% of the population. The area has a moderately educated workforce, with 25.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,800 | 2.9% |
% Under 18 | 21.4% | -6.1% |
% Seniors | 19.8% | 0.0% |
% WFH | 9.3% | 210.0% |
% w/ College Degree | 25.4% | 1.6% |
As of the latest ACS Survey released in 2023, Waynesboro, VA is a predominantly white area, with 76.8% of the population identifying as white. The white population has shrunk by 6.1% in the last 5 years. The second most common race or ethnicity in Waynesboro, VA is hispanic, making up 9.0% of the population. Foreign-born residents account for 4.8% of the population in Waynesboro, VA, and this percentage has increased by 37.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.8% | -6.1% |
% Black | 8.7% | -17.9% |
% Hispanic | 9.0% | 60.7% |
% Asian | 1.4% | 100.0% |
% Foreign Born | 4.8% | 37.1% |
Mortgage and Risk — Waynesboro, VA
According to HUD data as of 2023, there were 858 mortgage originations in Waynesboro, VA, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Waynesboro, VA. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 858 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Waynesboro, VA
As of 2024, the percent of homes in Waynesboro, VA under the Section 8 program is 12.1%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Waynesboro, VA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 737 |
Total Units Section 8 | 540 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,020 | $1,070 |
| 2 Bedroom | -$70 | $1,300 | $1,230 |
| 3 Bedroom | -$360 | $2,080 | $1,720 |
| 4 Bedroom | -$640 | $2,650 | $2,010 |
Affordability — Waynesboro, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $304,000 |
| Median Household Income | $63,200 |