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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 22,808 people, 9,431 houses or apartments, and a median cost of homes of $295,856, 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%).
Real estate appreciation rates in Waynesboro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.88% during the period.
Appreciation rates are so strong in Waynesboro that despite a nationwide downturn in the housing market, Waynesboro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waynesboro appreciation rates continue to be some of the highest in America, at 10.11%, which is higher than appreciation rates in 95.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waynesboro. Waynesboro appreciation rates in the latest quarter were at 4.84%, which equates to an annual appreciation rate of 20.79%.
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 higher than 90% 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.
$295,856
for Virginia
for nation
9,431
$1,558 / per month