Last updated: October 2024
Virginia, with its rich history and diverse landscapes, offers prime opportunities for mid-term rental investments. The state’s blend of vibrant cities and picturesque towns attracts a wide range of visitors year-round, making it a compelling market for investors looking to capitalize on mid-term rental properties.
Our guide highlights the top mid-term rental markets in Virginia, focusing on key factors such as rental income, occupancy rates, and median annual revenue. By providing insights into these thriving markets, we aim to equip investors with the knowledge needed to make informed decisions and maximize their returns in Virginia’s growing rental market.
Our advanced tool, Chalet Intel, delivers in-depth insights and strategies tailored for investors at all levels. It includes a robust calculator, regulation summaries, and extensive data for each discussed market. Our dashboard offers comprehensive data on both short-term and mid-term rentals, enabling you to make well-informed decisions. Links for each market are available for detailed individual analysis.
1. Hampton, Virginia
Hampton, VA, known for its coastal charm and rich history, offers a variety of attractions including waterfront parks and museums.
Hampton has seen a 7.6% increase in home values, with the average home price now at $259,034. The median annual revenue is $22,000, with a monthly rate of $2,000. With 1,036 full-time listings and a property tax rate of 1.13%, the gross yield is 8.49%.
For more comprehensive insights into Hampton as a rental market, explore the Hampton Airbnb Investor Guide and Hampton Rental Regulations.
2. Norfolk, Virginia
Norfolk, VA, known for its naval base and vibrant arts scene, is a dynamic city with a strong rental market.
Norfolk has seen a 6.9% increase in home values, with the average home price now at $286,639. The median annual revenue is $22,000, with a monthly rate of $2,000. With 1,016 full-time listings and a property tax rate of 1.09%, the gross yield is 7.68%.
For more insights into Norfolk as a rental market, explore the Norfolk Airbnb Investor Guide and Norfolk Rental Regulations.
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3. Virginia Beach, Virginia
Virginia Beach, VA, known for its long sandy beaches and lively boardwalk, is a popular coastal destination for tourists seeking both relaxation and entertainment.
Virginia Beach has seen a 6.3% increase in home values, with the average home price now at $391,244. The median annual revenue is $22,000, with a monthly rate of $2,000. With 994 full-time listings and a property tax rate of 0.89%, the gross yield is 5.62%.
Discover more about investing in Virginia Beach through the Virginia Beach Airbnb Investor Guide and Virginia Beach Rental Regulations.
4. Charlottesville, Virginia
Charlottesville, VA, home to the University of Virginia, offers a vibrant college town atmosphere with a rich cultural and historical heritage.
Charlottesville has seen a 4.1% increase in home values, with the average home price now at $467,200. The median annual revenue is $19,250, with a monthly rate of $1,750. With 780 full-time listings and a property tax rate of 0.75%, the gross yield is 4.12%.
For more comprehensive insights into Charlottesville as a rental market, explore the Charlottesville Airbnb Investor Guide and Charlottesville Rental Regulations.
Each of these markets in Virginia offers unique opportunities for mid-term rental investors, combining strong financial metrics with appealing tourist attractions. For a comprehensive overview, including detailed analyses, calculators, and regulation insights, make sure to explore our latest tool, Chalet Intel.
