RentData

Average Rent in Harrisonburg, VA Rents rising 15.7% YoY🔺 5th priciest in VA

HUD FY2025 · Official government data · Updated annually · Metro pop. 136,231

Data review: HUD FY2025Sources: HUD, Zillow, CensusMethodologyEditorial standardsReport a correction

Market Overview

Harrisonburg, VA has rental prices ranging from $1,081/month to $2,314/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,088/month — 22% below the national average of $1,400/month. With a median household income of $72,145/year, spending $1,088/month on a 1-bedroom represents 18% of gross income — within the recommended 30% threshold.

How Harrisonburg Compares

With an average 2-bedroom rent of $1,392/month, Harrisonburg ranks #5 most expensive of the 68 cities tracked in Virginia — pricier than 89% of all US cities in our data.

The Harrisonburg Rental Market

The Harrisonburg, VA area has a population of about 136,231 and 37% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Harrisonburg, VA have risen by $189/month (15.7%) over the past year, from $1,203 to $1,392. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Harrisonburg, VA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $43,520. The local median household income of $72,145 exceeds that threshold by $28,625, making Harrisonburg relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Harrisonburg, VA is $354,245, giving a price-to-rent ratio of 21.2. With a break-even horizon of approximately 21 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Harrisonburg's neighborhoods. Among the highest-value areas are Pheasant Acres ($247,133 median home value), Northeast ($268,496 median home value), Reherd Acres ($272,309 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Fair Market Rents

HUD FY2025
Studio
$1,081
Affordable
1 Bedroom
$1,088
Affordable
2 Bedrooms
$1,392
15.7% YoY
Affordable
3 Bedrooms
$1,883
Average
4 Bedrooms
$2,314
Average
🔔
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Median Home Value
$354,245
Source: Zillow ZHVI
Est. monthly payment
$1,885/mo
20% down · 30yr · 7%

Is Harrisonburg, VA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Affordability Index(30% income rule)

To rent a 2BR
$55,680/year
Local median income: $72,145
To buy a median home
$75,418/year
US national median: $75,000
💡 Based on a 2BR rent of $1,392/month and 20% down on a $354,245 home at 7% rate.

Nearby Cities in VAlargest metros in the state

CityStudio1BR2BR3BRHome Value
Madison County$907$913$1,096$1,361
Warren County$983$989$1,298$1,744
King and Queen County$1,152$1,197$1,325$1,645
Richmond$1,488$1,545$1,711$2,166
Roanoke$892$948$1,141$1,597
Lynchburg$1,043$1,062$1,200$1,647

Rent or Buy in Harrisonburg?

Break-even analysis and mortgage estimates based on local market data.

Should I Rent or Buy?

Break-even analysis using real Harrisonburg data

$
Home Value
$354,245
2BR Rent
$1,392/mo
Mortgage Rate
7%
Monthly P&I
$1,885/mo
🏠 Buy

Buying breaks even after 1 year — worth it if you stay 1+ years.

Total monthly buy cost: $2,609/movs rent: $1,392/mo
Estimates only. Excludes HOA, PMI (if <20% down), closing costs, and tax benefits. Assumes 5% return on invested down payment.

Mortgage Calculator

Estimate monthly payment for $354,245 home at 7% rate

20% — $70,849
3%50%
Estimated Monthly Payment
$1,885
per month · 30 years · 7% APR
Loan Amount
$283,396
Total Paid
$678,759
Total Interest
$395,363
Estimated only. Excludes taxes, insurance, HOA. Rate from FRED.

Living in Harrisonburg

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Frequently Asked Questions

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🏘️Neighborhoods in Harrisonburg

Compare rent & home prices by neighborhood

⚖️Rent vs Buy in Harrisonburg

Is it cheaper to rent or buy here?

💵Rent Affordability in Harrisonburg

Salary needed to afford rent here

🗺️All Cities in VA

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📋VA Tenant Rights

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