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Honaker

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

Median Home$91,583
Median Rent$657/month
Population1,174
Leading IndustriesManufacturing · Professional Services · Public Administration1% manufacturing
Home Value Growth⬆⬆+15.7% over 2 years
Young Adults36% of residentstop 5% nationally
Homeowners79% of occupied units
NotableAffordable Market$92k median home · lower cost than 94% of the country
Honaker
VA

Frequently Asked Questions

What are today's mortgage rates in Honaker?

As of today, the 30-year fixed mortgage rate for Honaker is approximately 6.975% (7.014% 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 Honaker?

The median home value in Honaker is $92k. The median monthly rent is $657. Annual property taxes average $570. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Honaker?

Home values in Honaker have increased 15.7% 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 Honaker?

Based on a typical all-in ownership cost of $487/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $21k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Honaker is $50k/year.

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What industries drive the economy in Honaker?

The largest employment sectors in Honaker are public administration (26%) and retail (7%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.