Harrisonburg VA Real Estate Market

The Harrisonburg, VA Real Estate market is complex and diverse.  If you are considering buying property in Harrisonburg, it is wise to research the housing market:

Harrisonburg Virginia is near the cities and towns of Bridgewater, Dayton, Massanutten, Mount Crawford and Weyers Cave and is a suburban community of 45,704 people. Viewing some statistics related to the Real estate market sees the average age of residential homes is 23 years and they are apportioned as 35% owned and 55% rental, with 8% remaining unoccupied.

About fifty percent of this population travels distances of twelve miles or more to work. Indications are that 76% of their occupations could be regarded as being “white collar” and the like jobs, with the balance of the work force holding “blue collar” designated occupations. Average household incomes in Harrisonburg are $37,132, with forty percent of residents being married. Those families with children have been recorded as contributing to 22% of all households. The real estate situation in Harrisonburg shows that homes were sold in the previous year at an average price of $170,000.

Residents of Harrisonburg are generally satisfied with existing amenities and their developing environment. The “downtown” area has been regenerated significantly in the last four or five years, with regular appearance of newly constructed shops, restaurant, condo-homes and the like. This has naturally added to the value of real estate in general. Family members are able to walk safely around the city, to downtown areas and library. Harrisonburg boasts an intriguing assortment of traditional suburban neighborhoods and homes. There is a college community that, although only in residence for about six months, provides impetus and entertainment with free concerts for the permanent residents.

Harrisonburg is recognized as being racially diverse, with all races accepted for their own ethnic identities. There are a variety of heritage festivals during the spring and summer. Every fall, there is a significant international festival, in celebration of the various cultures represented in the community. On any day of the week, this diversity is also recognized, when strolling through shopping centers. Different languages may be heard, from Spanish, French to Russian. This adds to the inherent multi-cultural atmosphere that forms part of life in Harrisonburg. Arts and culture are well represented and attended, with an art and music community, which includes an annual Bach Festival and a downtown celebration by local artists.

Outside the city, the area is rural and even pastoral. Although you may consider investing in real estate, located in the farming country, you would in effect, still be only about a short drive from the nearest mall, which could be considered as having the best of both worlds! As comparisons, Harrisonburg is relatively smaller than Charlottesville, with the general impression being, that it is quieter and offers better living economy. Staunton, offers a variety of arts and entertainment. They include the only replication in the world of Shakespeare’s Blackfriars Theatre; home of the American Shakespeare Company.

Choosing to buy real estate in Harrisonburg is an investment not only in property, but in a lifestyle. Surrounded by rural countryside and farmlands, but with arts, culture and modern day living within walking distance, whether you are starting family life or seeking retirement, this could be regarded as the ideal solution!