How much is a home worth in ZIP code 22602?

The typical home in 22602 is worth $420,953, based on the Zillow Home Value Index.

Are home values rising in 22602?

Home values in 22602 are up 0.4% over the past year, and up 4.8% a year over five years.

What is the typical rent in 22602?

A typical home in 22602 rents for about $2,073 a month, a gross rental yield of 5.9%.

What is the property tax rate in 22602?

The effective property tax rate in 22602 is 0.5% — roughly $2,147 a year on a typical home.

ZIP code 22602 has a population of 32,840 and a median household income of $101,398.

HousingHandbookReference data

…

U.S. ZIP Code · VA22602

Frederick County · Winchester, VA-WV

Typical home value

$420,953^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.4%
5-year / yr: +4.8%
10-year / yr: +5.5%

Relative price

vs U.S.: +48.2%
vs metro: +44.2%
vs state: +28.2%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 22602 is worth $420,953 — 44.2% above the Winchester, VA-WV median. Over the past year, values have risen 0.4%. Homes here rent for a typical $2,073 a month — a 5.9% gross rental yield. The effective property tax rate is 0.5%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,073^[2]
Gross yield: 5.9%^[2]
Cap rate: 3.5%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.5%^[3]
Typical annual tax: $2,147^[3]

#Climate risk

FEMA National Risk Index ratings for Frederick County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Low
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Moderate
Heat wave: Relatively Low
Hurricane: Relatively Low
Tornado: Relatively Low
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 32,840^[3]
Median household income: $101,398^[3]

#Migration

Household moves in and out of Frederick County over a year, from IRS tax-return data.

Net migration: +590^[5]
Moved in: 3,561
Moved out: 2,971

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 6
Elementary: 4
Middle: 1
High: 0

Admiral Richard E. Byrd Middle
Middle · Grades 6–8 · Frederick County Public Schools
808 students
Armel Elementary
Elementary · Grades PK–5 · Frederick County Public Schools
598 students
Greenwood Mill Elementary
Elementary · Grades PK–5 · Frederick County Public Schools
582 students
Evendale Elementary
Elementary · Grades PK–5 · Frederick County Public Schools
581 students
Orchard View Elementary
Elementary · Grades PK–5 · Frederick County Public Schools
449 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.9%

Net yield (after ~40% expenses)3.5%

Annual rent$24,876

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,129

Loan principal$336,763

Down payment$84,191

Total interest paid$429,522

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.28

Monthly cost to own$2,658

Monthly rent$2,073

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 12th percentile^[1]
Rental yield: 67th percentile^[2]
Property tax: 70th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 22602?: The typical home in 22602 is worth $420,953, based on the Zillow Home Value Index.
Are home values rising in 22602?: Home values in 22602 are up 0.4% over the past year, and up 4.8% a year over five years.
What is the typical rent in 22602?: A typical home in 22602 rents for about $2,073 a month, a gross rental yield of 5.9%.
What is the property tax rate in 22602?: The effective property tax rate in 22602 is 0.5% — roughly $2,147 a year on a typical home.
Who lives in 22602?: ZIP code 22602 has a population of 32,840 and a median household income of $101,398.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

22654 vs 22602 →
VA
Typical home
$425,056
Gross yield
—
22603 vs 22602 →
VA
Typical home
$430,853
Gross yield
—
22625
Lake Holiday CDP, VA
Typical home
$432,515
Gross yield
—
22655
Stephens City, VA
Typical home
$406,968
Gross yield
6.6%
22637
Gore CDP, VA
Typical home
$438,525
Gross yield
—
22645
Middletown, VA
Typical home
$450,071
Gross yield
—

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#Jump to section

U.S. ZIP Code · VA22602

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