Average Rent in Staunton, VA↓ Rents falling 34.5% YoY🔻 3rd cheapest in VA

Staunton, VA has rental prices ranging from $550/month to $1,032/month in 2016, depending on unit size. The typical 1-bedroom apartment rents for $597/month — 57% below the national average of $1,400/month. With a median household income of $70,949/year, spending $597/month on a 1-bedroom represents 10% of gross income — within the recommended 30% threshold.

How Staunton Compares

With an average 2-bedroom rent of $753/month, Staunton ranks #66 most expensive of the 68 cities tracked in Virginia — more affordable than 98% of all US cities in our data.

The Staunton Rental Market

The Staunton, VA area has a population of about 126,052 and 29% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Staunton, VA have fallen by $396/month (34.5%) over the past year, from $1,149 to $753. This rate of decrease is significant and reflects softening demand or increased inventory in the local market.

Affordability

To afford a 1-bedroom apartment in Staunton, VA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $23,880. The local median household income of $70,949 exceeds that threshold by $47,069, making Staunton relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Staunton, VA is $315,713, giving a price-to-rent ratio of 34.9. With a break-even horizon of approximately 35 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Staunton, VA Affordable?

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

Rent or Buy in Staunton?

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

Living in Staunton

Cost of living, job market, crime rates, and moving cost estimates.