Cost of Living in Waynesboro city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Waynesboro city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Waynesboro city ranks #2,535 of 3,144 counties for affordability (bottom 19%)
Data Story
About Cost of Living in Waynesboro city, Virginia
Waynesboro's rent burden runs high
Waynesboro's 20.7% rent-to-income ratio exceeds Virginia's state average of 18.6% and sits above the national affordability benchmark, with median rent at $972 monthly. The median household income of $56,364 falls well below the national average of $74,755, creating a squeeze between low wages and moderate rents.
Waynesboro faces above-average housing stress
Waynesboro ranks among Virginia's least affordable cities, with a 20.7% rent-to-income ratio that surpasses the state average by 2 percentage points. The city's lower median income compounds the problem, making housing cost burden more painful than in higher-earning Virginia counties.
Caught between cheap and expensive
Waynesboro's $972 rent falls between rural counties like Washington ($832) and Warren ($1,199), while home values of $236,600 trail Warren ($315,800) but exceed Tazewell ($116,100). The city's affordability challenge stems less from absolute housing costs and more from relatively low resident incomes.
Renters hurt more than homeowners
Renters dedicate $972 monthly (20.7% of income) while homeowners spend $1,181 on properties valued at $236,600—an uncommon pattern suggesting renters face market pressure. At $56,364 median household income, Waynesboro residents struggle most with housing affordability in this group.
Waynesboro: affordable prices, tight budgets
Waynesboro's housing costs ($972 rent, $236,600 homes) appear reasonable until you factor in the city's $56,364 median income—lowest in this comparison. Relocators should investigate local job prospects carefully; moving here for cheaper housing could backfire if wages don't support your cost of living.
Cost of Living Advisory: Waynesboro city
Affordability Verdict
For renters in Waynesboro city, the market is affordable. Expect to pay around $972/month in gross rent, with 29.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Waynesboro city is $972/month, while owner costs run $1,181/month. Renting saves approximately $209/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $38,880/year. For owner costs at the 28% rule, the required income is roughly $50,614/year. With a median household income of $56,364, most households can comfortably afford rent here. Notably, 29.0% of renter households in Waynesboro city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Lynchburg city where rent averages $1,043/month, Waynesboro city is approximately 7% less expensive.
Affordability Calculator
See how your income compares to housing costs in Waynesboro city
Rent Burden
20.7%
of gross income
Max Housing (28% Rule)
$1,315
per month
Owner Cost Burden
25.1%
of gross income
The median home in Waynesboro city may be a stretch
Median home value is $236,600. Estimated monthly cost: $1,889 vs. your max of $1,315.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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