Real Estate Investing in Waynesboro, Virginia (22980)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22980 (Waynesboro, 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 middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Waynesboro, VA (22980)?
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Market Analysis: 22980 Waynesboro
Not every below-median market is a bargain. Waynesboro's 22980 ZIP comes in at signals that favor experienced operators who can absorb the risk $321K pricing implies.
Stepping back, the numbers look inviting — $321K purchase price, 0.0% nominal cap — the work to hit that pro forma in 22980 is substantial and deserves full respect.
Regionally, 22980 sits on the difficult end of the VA spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 22980 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 22980 is an operator game, not a passive one. Turning to rents, entry prices of $321K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Waynesboro:
Property Strategy for 22980
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $207,973 | $1,190 | 4.1% | +7.6% | $103,987 |
| 3BR | $297,070 | $1,640 | 4.0% | +6.3% | $99,023 |
| 4BR | $395,312 | $1,890 | 3.4% | +6.2% | $98,828 |
| 5BR | $470,533 | — | — | +6.3% | $94,107 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 22980 Compare?
| Metric | 22980 | Waynesboro | Staunton, VA | Virginia |
|---|---|---|---|---|
| Home Value | $320,904 | $320,904 | N/A | $403,170 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 6.4% |
| Avg Rent | $1,492 | $1,492 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
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 22980 (Waynesboro, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $320,904 |
| Monthly Rent | $1,492 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | +8.4% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 22980
Population: 32,756
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 22980
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
How strong is tenant demand in Waynesboro, VA?
Waynesboro, VA draws a reliable base of working renters. Demand at the $1,492/mo rent level is reasonable for standard single-family and small multi rentals.
Are eviction rules reasonable in Waynesboro, VA?
Waynesboro, VA falls under VA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
How viable is house hacking in Waynesboro, VA?
The house hack math a challenging in Waynesboro, VA. Owner-occupant buyers benefit from the $1,492/mo rents and $321K home values.
How quickly do rentals get leased in Waynesboro, VA?
Waynesboro, VA carries elevated vacancy risk. Expect stable absorption at market rents of $1,492/mo.
What are rental rates like in Waynesboro, VA?
Average rent in Waynesboro, VA is approximately $1,492/mo per month. Against $321K home values that yields a reasonable rent-to-price ratio.
You know 22980 now. You don’t know where it ranks.
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How 22980 ranks in Staunton, VA
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