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Damascus

Learn about the people, housing, costs and businesses in Damascus, Virginia

Median Home$172,200
Median Rent$743/month
Population792
Leading IndustriesInformation & Media · Finance & Insurance · Education9% information & media
Home Value Growth⬆⬆⬆+28.2% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners77% of occupied units
NotableVeteran Community9% of residents · top 22% nationally
Damascus
VA

Frequently Asked Questions

What are today's mortgage rates in Damascus?

As of today, the 30-year fixed mortgage rate for Damascus is approximately 6.968% (7.007% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Damascus?

The median home value in Damascus is $172k. The median monthly rent is $743. Annual property taxes average $913. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Damascus?

Home values in Damascus have increased 28.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Damascus?

Based on a typical all-in ownership cost of $722/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $31k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Damascus is $50k/year.

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What industries drive the economy in Damascus?

The largest employment sectors in Damascus are public administration (24%) and retail (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.