Real Estate Investing in Harrisonburg, Virginia (22802)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22802 (Harrisonburg, VA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Harrisonburg, VA (22802)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 22802 Harrisonburg
ZIP 22802 in Harrisonburg, VA carries a durable set of headwinds. Home values near $323K and rents of $1,664/mo sit inside a market where underwriting has to be tight.
From an investor standpoint, the numbers look inviting — $323K purchase price, 0.0% nominal cap — the work to hit that pro forma in 22802 is substantial and deserves full respect.
Regionally, 22802 sits on the difficult end of the VA spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 22802 includes headwinds that any investor should price in. Income distribution skews lower than Harrisonburg averages, and tenant stability requires active management.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Harrisonburg:
Property Strategy for 22802
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $246,303 | $1,270 | 3.7% | +7.3% | $123,151 |
| 3BR | $299,221 | $1,730 | 4.2% | +6.2% | $99,740 |
| 4BR | $426,423 | $2,090 | 3.5% | +6.2% | $106,606 |
| 5BR | $510,707 | — | — | +6.5% | $102,141 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 22802 Compare?
| Metric | 22802 | Harrisonburg | Harrisonburg, VA | Virginia |
|---|---|---|---|---|
| Home Value | $322,533 | $116,379 | N/A | $403,170 |
| 5-Year CAGR | 4.7% | 4.1% | N/A | 6.4% |
| Avg Rent | $1,664 | $1,793 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 22802 (Harrisonburg, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $322,533 |
| Monthly Rent | $1,664 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 22802
Population: 29,370
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 22802
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Where do rents currently stand in Harrisonburg, VA?
Investors in Harrisonburg, VA typically see rents near $1,664/mo per month against $323K home values - a solid setup for rental cash flow.
Do rentals sit vacant long in Harrisonburg, VA?
Expect elevated vacancy in Harrisonburg, VA. Rents at $1,664/mo are absorbed by the tenant base without meaningful lag.
How strong is Harrisonburg, VA for real estate investors?
Harrisonburg, VA scores 3.0/5 for investability. Home values sit at $323K and rents near $1,664/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What type of investing works in Harrisonburg, VA?
A careful cash-flow rentals with hands-on management strategy Harrisonburg, VA best. The market produces steady results for that approach at the $323K price point.
Is Harrisonburg, VA landlord-friendly?
VA ranks as a landlord-friendly state for landlord-tenant law. Harrisonburg generally follows the statewide framework, so landlords face reasonable operating rules.
You know 22802 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 22802 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 22802 ranks in Harrisonburg, VA
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