Staunton, VA Real Estate Market

Source & Methodology

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Staunton, VA Housing Market Trends

With 24,932 people, 10,597 houses or apartments, and a median cost of homes of $221,959, Staunton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Staunton, accounting for 67.89% of the city's housing units. Other types of housing that are prevalent in Staunton include large apartment complexes or high rise apartments ( 18.83%), duplexes, homes converted to apartments or other small apartment buildings ( 9.34%), and a few row houses and other attached homes ( 3.15%).

The most prevalent building size and type in Staunton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.12% owning and 45.88% 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. Staunton's housing was primarily built during this period, from the '40s through the '60s. A full 37.11% of the city's housing hails from this era. Other housing ages represented in Staunton include homes built between 1970-1999 ( 28.03%) and housing constructed before 1939 ( 19.73%). There's also some housing in Staunton built between 2000 and later ( 15.13%).

Vacant housing appears to be an issue in Staunton. Fully 10.38% of the housing stock is classified as vacant. Left unchecked, vacant Staunton homes and apartments can be a drag on the real estate market, holding Staunton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Staunton Home Appreciation Rates

Staunton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Staunton during the period has been just 2.32%, which is lower than 80% of US communities.

Over the last year, Staunton appreciation rates have trailed the rest of the nation. In the last twelve months, Staunton's appreciation rate has been 8.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Staunton were at 2.13%, which equates to an annual appreciation rate of 8.78%.

Relative to Virginia, our data show that Staunton'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 Staunton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Staunton - 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 Staunton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$221,959

Staunton, VA HOME PRICES

> $1,164,000
1.1%
1.1%
$873,001 - $1,164,000
0.4%
0.4%
$582,001 - $873,000
1.2%
1.2%
$465,001 - $582,000
4.5%
4.5%
$349,001 - $465,000
9.0%
9.0%
$233,001 - $349,000
19.7%
19.7%
$116,001 - $233,000
53.6%
53.6%
$58,001 - $116,000
9.4%
9.4%
$0 - $58,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for VA

Value Relative To Nation

Number Of Homes And Apartments:
10,597

Staunton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
81.82% 2.82%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,277 / per month

Homeownership Rate

Owners
54.1%
54.1%
Renters
45.9%
45.9%
Vacant
10.4%
10.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
15.1%
15.1%
1970 - 1999
28.0%
28.0%
1940 - 1969
37.1%
37.1%
1939 or Older
19.7%
19.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.9%
67.9%
Townhomes
3.1%
3.1%
Small Apt. Buildings
9.3%
9.3%
Apt. Complexes
18.8%
18.8%
Mobile Homes
0.8%
0.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.8%
1.8%
1 Bedroom
11.3%
11.3%
2 Bedrooms
28.2%
28.2%
3 Bedrooms
43.5%
43.5%
4 Bedrooms
12.4%
12.4%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES