Winchester, VA-WV · Virginia
Frederick County
93,355 residents695 permits TTM$95,603 median HHI9 ZIP codesUpdated April 28, 2026
Investor first look
Median home value
$355,000
ACS 5-Year
Cap rate proxy
4.7%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.6%
HUD FMR ÷ ACS HHI
Net migration
+2.37%
IRS SOI
Permits (TTM)
695
Census BPS
Climate risk
44.7
FEMA NRI (0–100)
ZIP code breakdown9 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 22654 | — | — | — | 4.7% | 10.9% |
| 22655 | — | — | — | 6.2% | -32.0% |
| 22602 | — | — | — | 5.6% | -24.1% |
| 22625 | — | — | — | 3.9% | 10.9% |
| 22603 | — | — | — | 3.9% | 10.9% |
Ranked by composite score
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Demographics
Owner-occupied
78.0%
Census ACS
Vacancy rate
6.2%
Census ACS
Bachelor's degree +
30.3%
Census ACS
Rent burdened
37.2%
Census ACS (>30% income)
Median age
40.6
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 28, 2026