Best Places To Buy Rental Property In Virginia For 2025

Real estate investing isn’t just about buying property—it’s about buying in the right place at the right time. And if you're looking for one of the best places to buy rental property in Virginia, you’re already ahead of the game. Virginia is a thriving market that blends economic strength, high rental demand, and long-term appreciation potential, making it a goldmine for savvy investors.

What makes Virginia different? It’s the ultimate mix of urban opportunity and suburban charm—from tech-driven Northern Virginia to the scenic Blue Ridge Mountains, from historic college towns to thriving military hubs. Whether you're after steady rental income, short-term Airbnb profits, or long-term property appreciation, this state has something for every investor.

So, where should you buy rental property in Virginia to get the best returns? We’re about to break it all down—covering the hottest cities, hidden gems, and everything in between. Let’s get started with the following:

• Why Virginia Is One of The Best Places To Buy Rental Property
• Top 15 Best Places To Buy Rental Property In Virginia
• The Best Places To Buy Rental Property In Virginia: FAQ 

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Read Also: How To Buy A Rental Property With No Money

Why Virginia Is One of The Best Places To Buy Rental Property

Virginia isn’t just the birthplace of America—it’s also one of the most profitable and stable states for real estate investors. With its booming job market, high rental demand, and diverse investment opportunities, it’s no surprise that savvy investors are locking in properties across the state. From the bustling Northern Virginia tech hub near D.C. to the scenic Blue Ridge Mountains and the coastal gems along the Chesapeake Bay, there’s no shortage of profitable rental markets here.

Virginia’s strong economy, high median incomes, and a steady influx of new residents make it one of the best places to buy rental property in Virginia. Whether you're looking for cash-flowing rental properties in affordable cities or high-end homes with long-term appreciation potential, Virginia offers it all. Here are some of the biggest reasons why investors are flocking to the Virginia rental property market:

• Strong Economy & Job Growth
• High Rental Demand & Population Growth
• Diverse Investment Markets & Property Types
• Landlord-Friendly Laws & Investor Incentives
• Military & Government Presence Stabilizing the Market
• Tourism & Short-Term Rental Potential

Strong Economy & Job Growth

Virginia's robust economy and consistent job growth make it an attractive destination for real estate investors seeking lucrative rental properties. The state's diverse economic landscape, encompassing sectors such as technology, government, and manufacturing, contributes to a stable environment for rental property investments.

Virginia's economy is characterized by its diversity and resilience. The state hosts a mix of industries, including a significant federal government presence, a burgeoning tech sector, and a strong manufacturing base. This economic variety not only provides stability but also attracts a wide range of professionals seeking housing, thereby bolstering the rental market.

The state's unemployment rate has consistently remained below the national average, reflecting a healthy job market. For instance, in September 2024, Virginia reported 244,000 job openings, indicating a dynamic labor market with ample employment opportunities.

Virginia's population has been on an upward trajectory, further enhancing the demand for rental properties. The state's population grew from 8,631,393 in 2020 to an estimated 8,811,195 in 2024, marking a 2.1% increase. This growth is indicative of a thriving state that attracts new residents, many of whom seek rental accommodations, thereby providing a steady stream of potential tenants for property investors.​

Certain regions within Virginia exemplify the state's economic vigor. The Richmond metropolitan area, for example, has experienced notable job growth, adding over 6,000 jobs since 2019, demonstrating a robust post-pandemic recovery. Such regional economic health contributes to a strong rental market, making areas like Richmond particularly appealing for investment.

Virginia's strong economy and job growth create a fertile ground for rental property investments. The state's economic diversity, low unemployment rates, and population growth collectively ensure a sustained demand for rental housing, offering investors the potential for stable and profitable returns.

High Rental Demand & Population Growth

Virginia's rental market is thriving, thanks to consistent population growth and strong housing demand. As more people move to the state for job opportunities, lifestyle benefits, and affordability compared to neighboring states like Maryland and D.C., the demand for rental properties continues to climb. This makes Virginia one of the best places to buy rental property for investors looking to secure long-term cash flow and appreciation.

According to the U.S. Census Bureau, Virginia’s population has steadily increased over the past decade, reaching approximately 8.8 million residents in 2024. The state’s growth rate of 2.1% since 2020 is significant, especially in key metropolitan areas such as Northern Virginia, Richmond, and Virginia Beach. These regions are experiencing a surge in new residents seeking housing, many of whom prefer renting due to high home prices or job flexibility.

Rental demand is particularly strong in urban and suburban areas. In Northern Virginia, proximity to Washington, D.C., has kept rental occupancy rates high, while Richmond's growing economy has made it a hotspot for young professionals and families. Virginia Beach, with its military presence and tourism-driven economy, also maintains a robust rental market.

With a statewide rental vacancy rate of around 4.9%, significantly lower than the national average, Virginia presents landlords with high occupancy rates and minimal downtime between tenants. This translates to stable rental income and long-term profitability, making Virginia one of the best areas in Virginia to buy investment property.

As demand continues to grow and housing supply remains tight in high-population areas, Virginia offers a lucrative environment for rental property investors. Whether targeting long-term residential rentals or short-term housing opportunities, the state’s expanding population ensures a steady stream of tenants and rising property values.

Diverse Investment Markets & Property Types

Virginia’s real estate market is incredibly diverse, offering something for every type of investor. From high-yield multifamily units in Richmond to lucrative short-term rentals along the coast and stable single-family properties in Northern Virginia, there are many opportunities in Virginia’s rental property market to fit different investment strategies. This diversity makes it one of the best places to buy rental property in Virginia, whether you're looking for long-term tenants or vacation renters.

For investors who prioritize cash-flowing rental properties, cities like Norfolk, Roanoke, and Newport News offer affordable entry points with steady demand from working professionals and military personnel. In fact, Norfolk has one of the highest percentages of renters in the state, with over 56% of residents choosing to rent instead of own, making it a prime market for landlords.

For those who prefer short-term rental opportunities, Virginia Beach and the Shenandoah Valley region offer excellent potential. Virginia Beach ranks among the best cities in Virginia for Airbnb investment, drawing over 14 million visitors annually, ensuring consistent demand for vacation rentals.

Meanwhile, Northern Virginia presents an opportunity for investors targeting long-term appreciation, with cities like Alexandria and Arlington seeing home values grow by over 5% year-over-year. High median rents, a professional workforce, and proximity to Washington, D.C., make these areas some of the best cities in Virginia for buy-and-hold real estate investing. 

With opportunities spanning luxury markets, workforce housing, student rentals, and vacation properties, Virginia gives investors the flexibility to build a portfolio that fits their strategy while benefiting from the state’s strong rental demand and appreciating property values.

Landlord-Friendly Laws & Investor Incentives

Virginia is one of the more landlord-friendly states on the East Coast, giving property owners a legal and financial edge over more restrictive markets. The state offers fair yet flexible landlord-tenant laws, making it easier for rental property owners to manage their investments efficiently. Compared to states like Maryland and New York, Virginia provides stronger legal protections for landlords, making it one of the best places to buy rental property in Virginia.

One major advantage is Virginia’s streamlined eviction process. If a tenant fails to pay rent, landlords can issue a 5-Day Pay or Quit Notice and file for eviction shortly after if payment is not received. The court process typically moves faster than in more tenant-friendly states, ensuring landlords can regain control of their property with minimal financial loss.

Additionally, Virginia does not impose rent control laws, meaning landlords can adjust rents based on market conditions without government restrictions. This makes cities like Richmond, Norfolk, and Virginia Beach some of the best cities in Virginia for real estate investing, allowing investors to maximize rental income and respond to market shifts effectively.

Beyond legal protections, Virginia offers investor-friendly tax benefits, including depreciation deductions, mortgage interest write-offs, and property tax advantages. In many counties, property tax rates are significantly lower than in neighboring Maryland and D.C., improving cash flow for investors. 

For those interested in historic property renovations, Virginia also offers state tax credits for rehabilitating historic buildings, which can be a game-changer for investors in cities like Richmond and Alexandria, where historic homes are in high demand.

With strong landlord protections, no rent control, low property taxes, and tax incentives, Virginia continues to be a top choice for real estate investors looking for stability, profitability, and long-term growth.

Military & Government Presence Stabilizing the Market

Virginia's strong military and government presence plays a crucial role in stabilizing the housing market, making it one of the best places to buy rental property in Virginia. With the Pentagon, numerous military bases, and key federal agencies headquartered in the state, Virginia boasts a steady influx of government employees, military personnel, and contractors—all of whom need housing. This consistent demand makes cities like Arlington, Alexandria, and Norfolk some of the best Virginia cities for rental property investments.

One of the biggest contributors to Virginia’s economic and housing stability is the Department of Defense (DoD). The DoD accounts for hundreds of thousands of direct and indirect jobs in the state and injects billions of dollars into Virginia’s economy annually. This job security ensures high rental occupancy rates, reducing the risks that landlords face in less economically stable markets.

Additionally, Northern Virginia is home to a thriving government contracting industry, supporting tech, cybersecurity, and intelligence operations. With over 20% of the state's workforce employed by the government or in related fields, rental demand remains steady year-round, even during economic downturns.

For investors considering military housing opportunities, Virginia is home to several major military installations, including:

• Naval Station Norfolk: The world’s largest naval base, providing long-term housing demand in Norfolk and Virginia Beach.
• Fort Belvoir: A key Army base in Fairfax County, supporting government personnel and civilian contractors.
• Joint Base Langley-Eustis: A major Air Force and Army installation fueling rental demand in Hampton and Newport News.

Military personnel often relocate every 2-3 years, creating a steady pipeline of new renters who seek housing near their assigned base. Plus, Basic Allowance for Housing (BAH) rates in Virginia are high, ensuring service members receive competitive rental stipends that help landlords maintain stable rental income.

Overall, Virginia’s military and federal government presence creates a uniquely resilient rental market, making it one of the best places in Virginia for passive real estate income. Whether investing in Northern Virginia’s high-end government rental market or the steady military housing demand in coastal cities, landlords benefit from long-term rental stability, high occupancy rates, and reliable tenants.

Tourism & Short-Term Rental Potential

Virginia’s rich history, stunning landscapes, and thriving coastal scene make it a prime location for short-term rentals and vacation properties. From the rolling Blue Ridge Mountains to the sun-soaked shores of Virginia Beach, the state attracts millions of visitors each year, creating endless opportunities for Airbnb and vacation rental investors. If you’re looking for the best places to buy rental property in Virginia that can generate high nightly rates, locations near historical sites, national parks, and coastal getaways are prime options.

One of the biggest advantages of investing in short-term rentals in Virginia is the diverse range of tourist attractions. In Williamsburg, you can capitalize on year-round history buffs flocking to Colonial Williamsburg and Busch Gardens. Meanwhile, the Shenandoah Valley sees seasonal surges from outdoor lovers hiking Skyline Drive and exploring national forests. And let’s not forget Virginia Beach, where vacationers and military families alike drive up short-term rental demand.

For investors, the beauty of Virginia’s tourism market is that it isn’t limited to just one season. Ski resorts in Wintergreen attract visitors in the colder months, while lakefront homes in Smith Mountain Lake make for perfect summer rentals. If you’re looking to maximize cash flow, investing in high-demand vacation markets could put you in a prime position to generate strong returns while taking advantage of Virginia’s booming short-term rental scene.

Read Also: How To Buy Your First Rental Property: A Step By Step Guide

Top 15 Best Places To Buy Rental Property In Virginia

Virginia offers a diverse range of investment opportunities, from booming metro areas to charming coastal and mountain towns. Whether you’re looking for long-term rental stability or high-yield vacation properties, knowing where to invest can make all the difference. With a strong economy, high rental demand, and appreciating home values, the best places to buy rental property in Virginia offer landlords excellent cash flow and long-term growth potential.

Here are 15 of the best cities for rental property investing in the Old Dominion:

1. Virginia Beach, VA: Strong military & vacation rental demand
2. Richmond, VA: Fast-growing job market & urban rental appeal
3. Arlington, VA: High-income tenants & proximity to D.C.
4. Norfolk, VA: Military-driven rental stability & waterfront living
5. Alexandria, VA: Thriving short-term rental market & walkability
6. Chesapeake, VA: Family-friendly, high-demand rental market
7. Newport News, VA: Affordable homes & strong job market
8. Roanoke, VA: Affordable investment with steady rental yields
9. Hampton, VA: Strong military presence & high rental demand
10. Charlottesville, VA: University town with strong student rentals
11. Winchester, VA: Low-cost housing & rising rental demand
12. Fredericksburg, VA: Commuter-friendly & appreciating values
13. Lynchburg, VA: Growing healthcare sector & stable renters
14. Harrisonburg, VA: College town with year-round rental potential
15. Williamsburg, VA: Thriving short-term rental & tourism hotspot

Virginia Beach, VA

Virginia Beach isn’t just a summer vacation hotspot—it’s a year-round rental goldmine. The city's strong job market, bolstered by the military, healthcare, and tourism industries, ensures a steady stream of tenants looking for long-term leases. With a mix of military personnel, young professionals, and retirees drawn to the area’s quality of life, rental demand remains high, making it one of the best places to buy rental property in Virginia.

Short-term rental investors also have a unique opportunity here. The city's beachfront location, popular boardwalk, and annual events attract millions of visitors each year. This means well-located vacation rentals can generate impressive income, especially during peak travel seasons. Meanwhile, suburban neighborhoods offer strong long-term rental potential, particularly for families and professionals seeking stability.

With property values appreciating and rental demand holding steady, Virginia Beach real estate investment opportunities remain strong for investors who want a mix of appreciation, cash flow, and tenant stability. Whether you're eyeing a beachfront Airbnb or a single-family rental in a quiet neighborhood, Virginia Beach has something to offer savvy investors.

Richmond, VA

Richmond is more than just Virginia’s capital—it’s a thriving economic hub with a red-hot rental market. As a center for finance, healthcare, and education, the city has a strong job market that continuously draws new residents, making it one of the best places to buy rental property in Virginia. With a growing population and a large student presence from universities like Virginia Commonwealth University, landlords have a steady stream of potential tenants.

Investors can take advantage of Richmond’s variety of rental property options. Downtown apartments cater to young professionals, while historic single-family homes in neighborhoods like The Fan and Church Hill attract long-term renters. The city’s affordability compared to nearby Washington, D.C., also makes it appealing for those looking to relocate.

For investors seeking Virginia real estate investment opportunities, Richmond offers both high appreciation potential and solid rental yields. Whether you're targeting student rentals, single-family homes, or trendy lofts, this city provides multiple paths to strong returns.

Arlington, VA

Sitting just across the Potomac River from Washington, D.C., Arlington is one of the best places to buy rental property in Virginia for investors seeking a high-demand, high-reward market. With its proximity to the nation’s capital, Arlington attracts a steady influx of professionals, government employees, and military personnel, ensuring a reliable tenant base. The area’s public transit options, vibrant nightlife, and strong job market make it a hotspot for renters who prefer urban convenience without the sky-high costs of D.C.

Investors can find lucrative opportunities in luxury high-rise apartments, townhouses, and modern condos—properties that cater to the city’s young professionals and transient workforce. The Virginia rental property market in Arlington is known for strong appreciation, making it ideal for both long-term buy-and-hold strategies and short-term rentals.

With Arlington’s ever-growing demand for housing, real estate investors can expect competitive rents and rising property values, making it an attractive destination for both cash flow and long-term equity gains.

Norfolk, VA

Norfolk is a standout city for rental property investment in Virginia, thanks to its strong military presence, coastal appeal, and thriving port economy. Home to Naval Station Norfolk—the largest naval base in the world—this city has a steady influx of military personnel, government contractors, and defense workers who create consistent rental demand. With nearly half the population renting, landlords have no shortage of tenants.

Beyond the military, Norfolk's economy is anchored by shipping, trade, and tourism, thanks to its bustling port and scenic waterfront. Short-term rentals do well here, particularly in neighborhoods near Ocean View Beach and Downtown Norfolk. Investors looking for long-term, stable tenants can target single-family homes near the military bases or multi-unit properties in high-demand rental areas.

For those searching for the best places to buy rental property in Virginia, Norfolk offers a resilient economy, steady appreciation, and year-round tenant demand. Whether you're looking for cash flow or long-term value, this city checks all the right boxes.

Alexandria, VA

If you're searching for the best places to buy rental property in Virginia, Alexandria should be high on your list. This historic, high-income city sits just minutes from Washington, D.C., making it a prime location for government employees, military personnel, and professionals in the private sector. The city's proximity to the nation’s capital fuels high rental demand, with young professionals and executives seeking apartments, condos, and townhomes in desirable neighborhoods like Old Town and Del Ray.

Alexandria’s real estate market has also seen strong appreciation trends, making it a great option for investors looking to build long-term wealth. With a well-preserved historic district, vibrant arts scene, and waterfront attractions, short-term rentals are also a profitable option, especially for business travelers and tourists.

For investors seeking stable cash flow and appreciation, Alexandria offers the best of both worlds. Whether you’re buying a luxury condo or a multi-unit rental, this city provides a high-end, high-demand rental market with excellent long-term growth prospects.

Chesapeake, VA

For investors looking for the best places to buy rental property in Virginia, Chesapeake offers a unique blend of suburban comfort and economic opportunity. Located near Norfolk and Virginia Beach, this city attracts families, military personnel, and professionals seeking a quieter, more spacious environment while staying close to major employment hubs. The steady influx of renters in Chesapeake makes single-family homes, townhouses, and duplexes particularly profitable rental investments.

One of Chesapeake’s biggest draws is its strong local economy and access to high-paying jobs in industries like defense, logistics, and healthcare. Additionally, its highly rated school districts and safe neighborhoods make it an appealing choice for long-term renters, reducing tenant turnover and vacancy rates.

With property values steadily rising and rental demand holding strong, Chesapeake presents a solid buy-and-hold investment opportunity. Whether you're targeting long-term tenants or military renters, this market offers consistent cash flow and future appreciation potential.

Newport News, VA

Newport News is one of the best places to buy rental property in Virginia due to its steady tenant base and strong economic drivers. As home to one of the largest shipbuilding industries in the country and a major military presence, the city provides a consistent stream of renters, from defense contractors to Navy personnel stationed at Joint Base Langley-Eustis.

Investors looking for long-term rental stability will find success with single-family homes and multifamily units, as many residents prefer to rent due to the city’s transient workforce. Additionally, home prices remain more affordable compared to nearby Hampton Roads cities, giving investors better cash flow potential.

With a growing economy, strong employment opportunities, and demand driven by the military and maritime industries, Newport News offers an excellent opportunity for investors seeking reliable rental income and long-term appreciation in the Virginia real estate market.

Roanoke, VA

Roanoke stands out as one of the best places to buy rental property in Virginia due to its affordable real estate prices and strong demand for rentals. As a regional economic hub for Southwest Virginia, the city benefits from a diverse job market, including healthcare, manufacturing, and the tech sector. Carilion Clinic, one of the state's largest health systems, drives employment, ensuring a steady tenant base for investors.

For those looking for high cash flow potential, Roanoke offers low home prices compared to Northern Virginia, making it easier to enter the market and generate solid rental yields. Single-family homes and small multifamily properties tend to perform well, attracting both long-term renters and young professionals moving to the area.

With a revitalized downtown, growing job opportunities, and a lower cost of living, Roanoke presents a profitable opportunity for investors looking to build sustainable rental income in an appreciating market.

Hampton, VA

Hampton is a prime location for rental property investors due to its coastal appeal, strong military presence, and affordable home prices. Situated on the Chesapeake Bay, the city attracts renters looking for a mix of suburban comfort and access to major employment hubs. With Langley Air Force Base and NASA’s Langley Research Center, there is a constant demand for rental housing from military personnel, defense contractors, and aerospace professionals.

Investors looking for long-term rental stability will find single-family homes and townhouses to be solid options, while short-term rentals near the waterfront can cater to vacationers and business travelers. One of the best places to buy rental property in Virginia, Hampton benefits from a steady influx of renters due to its affordable cost of living compared to nearby Norfolk and Virginia Beach.

With continued development along the waterfront, a strong economy, and increasing rental demand, Hampton offers plenty of opportunities for investors looking to maximize returns in a growing market.

Charlottesville, VA

Charlottesville is one of the best places to buy rental property in Virginia thanks to its strong economy, student-driven rental market, and cultural appeal. Home to the prestigious University of Virginia (UVA), the city offers investors a steady pool of renters, including students, faculty, and young professionals. With over 26,000 students enrolled at UVA, demand for rental properties—particularly multi-bedroom homes, apartments, and student housing units—remains high year-round.

Beyond its college-town appeal, Charlottesville has a vibrant job market with opportunities in healthcare, research, and technology. The city's walkability, historic charm, and proximity to Washington, D.C. also make it attractive for long-term renters and remote workers looking for a slower pace of life without sacrificing career opportunities.

For investors, single-family homes, duplexes, and townhouses near the university or downtown tend to perform best. The city’s strong appreciation rates and high occupancy levels ensure solid long-term returns, making Charlottesville a top choice for buy-and-hold investors.

Winchester, VA

Winchester is an underrated gem for real estate investors, offering affordable property prices, strong rental demand, and a growing economy. As one of the best places to buy rental property in Virginia, this historic city sits in the northern part of the state, making it an attractive option for commuters working in Washington, D.C., and Northern Virginia—but without the sky-high housing costs.

With its expanding healthcare and manufacturing industries, Winchester provides steady employment opportunities, which help sustain rental demand. The city is also home to Shenandoah University, drawing students and faculty who frequently seek rental housing.

For investors, single-family homes and small multifamily properties perform well, particularly in neighborhoods near the university, downtown, and major employment hubs. Short-term rentals are also an option thanks to Winchester’s rich history, wineries, and annual Apple Blossom Festival, attracting thousands of visitors each year. With affordable property prices and steady appreciation, Winchester is an excellent market for long-term rental income and future growth.

Fredericksburg, VA

Fredericksburg is a prime rental market with a booming population, a thriving economy, and a perfect mix of historic charm and modern conveniences. Situated between Washington, D.C., and Richmond, this city has become a hotspot for commuters looking for affordable housing outside of the expensive metro areas. As one of the best places to buy rental property in Virginia, Fredericksburg offers investors an opportunity to tap into high rental demand fueled by government workers, military personnel, and students.

With the University of Mary Washington, a strong presence of healthcare and tech jobs, and a steady influx of military families from nearby bases like Quantico, rental properties perform exceptionally well. Single-family homes, townhouses, and student rentals are particularly lucrative here, offering investors multiple ways to generate passive income.

Fredericksburg’s historic downtown and vibrant tourism scene also create opportunities for short-term rentals, attracting visitors year-round. Given its strong appreciation potential, rental stability, and strategic location, Fredericksburg remains a top investment choice for both long-term and short-term rental property owners.

Lynchburg, VA

Lynchburg is an underrated gem for real estate investors, offering affordable property prices, high rental demand, and a thriving local economy. Known as the “City of Seven Hills,” Lynchburg is home to several colleges and universities, including Liberty University, which fuels a steady need for rental housing. This makes it one of the best places to buy rental property in Virginia for investors looking to capitalize on student housing and young professionals entering the workforce.

With a cost of living lower than the national average, Lynchburg remains an attractive place for renters who want affordability without sacrificing job opportunities. The city has seen consistent job growth in healthcare, education, and manufacturing, supporting a strong tenant base that keeps vacancies low.

Investors can maximize cash flow with single-family homes, duplexes, and student housing near the universities, while the city’s historic charm and outdoor recreation create potential for short-term vacation rentals as well. As Lynchburg continues to grow, its affordability, strong rental demand, and appreciation potential make it a smart choice for real estate investors looking to build a profitable portfolio.

Harrisonburg, VA

Harrisonburg is a prime market for rental property investors, thanks to its booming student population, strong economy, and affordable home prices. Home to James Madison University (JMU) and Eastern Mennonite University, the city sees consistent demand for student housing, making it one of the best places to buy rental property in Virginia for investors targeting steady cash flow.

Beyond student rentals, Harrisonburg’s diverse economy—anchored by education, healthcare, and manufacturing—supports a stable workforce that fuels demand for long-term rental properties. The city also offers a lower cost of living than Northern Virginia, making it attractive for young professionals and families looking for affordability.

Investors can find success with multi-bedroom student housing near campus, single-family homes in suburban areas, and even short-term rentals catering to visitors exploring the nearby Shenandoah Valley. With its steady population growth, strong rental demand, and appreciating home values, Harrisonburg presents an excellent opportunity for real estate investors looking to build wealth in Virginia.

Williamsburg, VA

Williamsburg is a goldmine for real estate investors, offering a unique mix of student housing, long-term rentals, and short-term vacation properties. As home to The College of William & Mary, student rentals are always in demand, making this one of the best places to buy rental property in Virginia for steady, year-round cash flow.

Beyond the college, Williamsburg’s rich colonial history and top-tier attractions, like Colonial Williamsburg, Busch Gardens, and Jamestown, bring millions of tourists annually, creating huge potential for Airbnb and vacation rentals. Investors looking for short-term rental opportunities will find high occupancy rates, particularly in properties near historic sites and entertainment districts.

With strong appreciation potential, a steady flow of tenants, and a stable local economy, Williamsburg is a top-tier market for both traditional and short-term rentals. Whether you focus on student housing, single-family homes, or high-yield vacation rentals, this city offers diverse opportunities for long-term success.

Read Also: Best Places To Buy Rental Property In 2025 For Investors

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The Best Places To Buy Rental Property In Virginia: FAQ

Investing in Virginia’s real estate market offers diverse opportunities, from high-demand urban rentals to profitable vacation properties. Whether you're a first-time investor or expanding your portfolio, understanding where to buy rental property in Virginia is key to maximizing cash flow and appreciation. Below, we answer some of the most common questions investors have about the Virginia rental property market to help you make informed decisions.

Where are the best places to buy rental property in Virginia?

The best cities to buy rental property in Virginia include Virginia Beach, Richmond, Arlington, and Alexandria, each offering strong rental demand and appreciation potential. College towns like Charlottesville and Williamsburg also provide great investment opportunities.

Is Virginia a good state for rental property investment?

Yes, Virginia is one of the best states for rental property investment due to its strong job market, high rental demand, and stable economy. The state also has landlord-friendly policies that protect property owners.

What types of rental properties perform best in Virginia?

Single-family homes and multi-family properties perform well in urban and suburban areas, while short-term rentals thrive in tourist-heavy locations like Williamsburg and Virginia Beach. Student housing is also a strong investment in college towns.

What is the average rental yield in Virginia?

Rental yields vary by city, but many areas offer above-average cash-on-cash returns due to affordable home prices and strong rental demand. Cities like Richmond and Norfolk tend to have higher rental yields compared to national averages.

Are property taxes high in Virginia?

Virginia’s property tax rates are lower than many East Coast states, with an average effective rate of 0.87%, compared to 1.38% in North Carolina and 1.68% in Maryland. This makes Virginia an attractive market for rental property investors.

Is short-term rental investing profitable in Virginia?

Yes, cities like Virginia Beach, Williamsburg, and Charlottesville offer strong Airbnb demand due to tourism and seasonal visitors. However, investors should check local regulations on short-term rentals before purchasing.

How much do you need to invest in a rental property in Virginia?

The median home price in Virginia is around $383,000, but entry prices vary by city. Investors can find affordable opportunities in areas like Roanoke and Lynchburg, while Northern Virginia tends to have higher upfront costs.

What is the best strategy for investing in Virginia rental properties?

Buy-and-hold investing works well in high-appreciation markets like Arlington and Alexandria, while short-term rentals thrive in tourist-heavy areas. Multi-family properties can generate consistent passive income in cities with high rental demand.

Is Virginia a landlord-friendly state?

Yes, Virginia has landlord-friendly laws, including quick eviction processes and fewer rent control restrictions. This makes it easier for investors to protect their rental income and manage tenants efficiently.

What are the best cities in Virginia for passive real estate income?

Cities like Richmond, Norfolk, and Newport News offer strong rental demand and relatively low home prices, making them ideal for long-term passive income investments. Suburban areas near Washington, D.C., also provide stable cash flow and appreciation.

Final Thoughts On The Best Places To Buy Rental Property In Virginia

Virginia offers some of the most profitable rental property opportunities on the East Coast, thanks to its strong economy, high rental demand, and diverse investment markets. Whether you're eyeing long-term rentals in Richmond, short-term vacation properties in Virginia Beach, or multi-family units in Arlington, the state provides exceptional returns for investors. With landlord-friendly laws, growing job sectors, and a stable real estate market, Virginia is a prime destination for building wealth through rental properties. If you're serious about investing, now is the time to explore the best places to buy rental property in Virginia and start generating passive income.

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*Disclosure: Real Estate Skills is not a law firm, and the information contained here does not constitute legal advice. You should consult with an attorney before making any legal conclusions. The information presented here is educational in nature. All investments involve risks, and the past performance of an investment, industry, sector, and/or market does not guarantee future returns or results. Investors are responsible for any investment decision they make. Such decisions should be based on an evaluation of their financial situation, investment objectives, risk tolerance, and liquidity needs.