The Most Affordable Neighborhoods in Wachapreague, VA by Home Value

These days, finding an affordable place to live in the Wachapreague area can be challenging. Home prices in Wachapreague are now at a median cost of $177,300, lower than the Virginia average of $443,089.

The average cost of rent is $1,195/mo in Wachapreague, primarily driven by the current value of real estate in the Wachapreague area. In Wachapreague, 8.70% of households rent, and 64.15% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Wachapreague is $6,275 per month. Households that rent pay about 19.04% of their income on rent here. Wachapreague’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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