Waynesboro, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Waynesboro Neighborhoods Since 2000




Waynesboro, VA Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Waynesboro Housing Market Information

With 21,491 people, 9,031 houses or apartments, and a median cost of homes of $166,946, 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 68.58% of the city's housing units. Other types of housing that are prevalent in Waynesboro include large apartment complexes or high rise apartments ( 15.98%), duplexes, homes converted to apartments or other small apartment buildings ( 9.70%), 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 57.27% owning and 42.73% 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 39.75% of the city's housing hails from this era. Other housing ages represented in Waynesboro include homes built between 1970-1999 ( 34.37%) and housing constructed before 1939 ( 15.00%). There's also some housing in Waynesboro built between 2000 and later ( 10.87%).

Waynesboro Home Appreciation Rates

Waynesboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Waynesboro during the period has been just -1.56%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Waynesboro's appreciation rate, at 4.81%, has been at or slightly above the national average. In the latest quarter, Waynesboro's appreciation rate has been -1.74%, which annualizes to a rate of -6.79%.

Notably, Waynesboro's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Waynesboro's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$166,946

Waynesboro, VA HOME PRICES

Value Range
> $1,033,000 0.2
$774,001 - $1,033,000 0.0
$516,001 - $774,000 0.7
$413,001 - $516,000 1.9
$309,001 - $413,000 6.4
$207,001 - $309,000 15.8
$103,001 - $207,000 57.0
$51,001 - $103,000 15.0
$0 - $51,000 3.1

Average for VA
Average for Nation

Value Relative to Nation Value Relative to State
42.8102660260166 59.0027700831025

Number Of Homes And Apartments:
9,031

Waynesboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
42.10% 2.06% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,087 / per month

Homeownership Rate

Homeownership
Owners 57.27
Renters 42.73
Vacant 8.48

Housing Market Details

 

Age of Homes

AGE OF Waynesboro HOMES
2000 or Newer 10.9
1970 - 1999 34.4
1940 - 1969 39.8
1939 or Older 15.0

Types of Homes

TYPE OF Waynesboro HOMES
Single-Family 68.6
Townhomes 3.2
Small Apt. Buildings 9.7
Apt. Complexes 16.0
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Waynesboro HOMES
No Bedroom 1.95
1 Bedroom 6.69
2 Bedrooms 30.49
3 Bedrooms 44.12
4 Bedrooms 13.97
5 or more bedrooms 2.78