Real Estate Investing in Luray, Virginia (22835)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22835 (Luray, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 21.6% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 32.7 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Luray, VA (22835)?
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Market Analysis: 22835 Luray
Put differently, ZIP 22835 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $322K median. It rewards specialists, not generalists.
Rent of $819/mo on a $322K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 22835 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Luray have seen price recovery that 22835 has not matched. Page County data supports the view that the spread is structural rather than temporary.
Resident income in 22835 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 22835 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Luray:
Property Strategy for 22835
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $213,708 | $800 | 2.7% | +7.6% | $213,708 |
| 2BR | $244,533 | $910 | 2.7% | +9.1% | $122,266 |
| 3BR | $304,992 | $1,150 | 2.7% | +8.5% | $101,664 |
| 4BR | $391,721 | $1,540 | 2.8% | +8.5% | $97,930 |
| 5BR | $460,986 | — | — | +8.0% | $92,197 |
Market Trends
Home Value History (with trend line)
📊 How Does 22835 Compare?
| Metric | 22835 | Luray | Virginia |
|---|---|---|---|
| Home Value | $321,526 | $321,526 | $403,170 |
| 5-Year CAGR | 6.4% | 6.4% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 2.0% | 2.0% | - |
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 22835 (Luray, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $321,526 |
| Monthly Rent | $819 |
| Price-to-Rent | 32.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). 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 22835
Population: 11,358
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 22835
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.
Frequently Asked Questions
What are vacancy rates like in Luray, VA?
Luray, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
Is the tenant base reliable in Luray, VA?
Tenant demand in Luray, VA is solid. The local workforce $819/mo rents across most rental classes.
Is rental property easy to operate in Luray, VA?
Landlord-friendliness in Luray, VA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Can I house hack in Luray, VA?
Luray, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $322K price point reasonable to enter.
What real estate strategy is ideal for Luray, VA?
Luray, VA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($322K prices, $819/mo rents) make it a reasonable choice.
You know 22835 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 22835 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.
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