Market Overview
Home Prices in Penn Laird, VA
The median home value in Penn Laird, VA is $489,653 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.6% compared to a year ago and up 4.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penn Laird are priced19% above average. Penn Laird is part of the Harrisonburg, VA metro area.
Over the past five years, Penn Laird home values have risen by approximately31.2%, reflecting strong long-term appreciation in this market.
Price History
Penn Laird Home Price Trend
City Comparison
Penn Laird vs. National Median
At $489,653, homes in Penn Laird cost 19% above the national median of $410,000. Buyers in Penn Laird should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Penn Laird?
20% Down Payment
$97,931
on $489,653
Monthly P&I
$2,554/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,244/mo
incl. taxes & insurance
Income Needed
$129,760
gross annual (30% rule)
10% Down Option
$48,965
+ PMI applies
Loan Amount (20% dn)
$391,722
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Penn Laird, VA?
The median home value in Penn Laird is $489,653 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.6% year-over-year.
How much have home prices changed in Penn Laird?
Over the past year, home values in Penn Laird have increased by 2.6%. Over five years, prices have risen approximately 31.2%.
How much do I need to earn to buy a home in Penn Laird?
To comfortably afford the median home price of $489,653 with a 20% down payment ($97,931) at today's rates (6.8%), you'd need a gross annual income of approximately $129,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Penn Laird compare to the national average home price?
The national median home value is approximately $410,000. At $489,653, homes in Penn Laird are 19% above the national average.
What metro area is Penn Laird part of?
Penn Laird is part of the Harrisonburg, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.