Top Locations Where to Buy Rental Property in the 2019 Virginia Housing Market by Hamza Abdul-Samad February 23, 2019February 22, 2019 by Hamza Abdul-Samad February 23, 2019February 22, 2019 Like any real estate investor planning on owning a rental property, you might be thinking about where to buy rental property. There are many ways to answer this, but what is the best method? By far, the best way to find a location and property that suit you is to use an investment property calculator. This tool points the investor to the best places to invest in real estate based on his/her goals. Want to get your hands on such a calculator? Click here! For some investors, the Virginia housing market will be the location the calculator guides them to. With their potential high rental income and return on investment, Virginia houses for sale can be some of the best investments you can make! Let’s dive deep into the Mother of Presidents and learn where to buy rental property in this state! Related: Rental Property Calculator: Just for Beginners or a Tool for All Real Estate Investors? Virginia Housing Market 2019: State-Level Data What is owning a rental property like in the Virginia housing market? Here are the Virginia real estate market statistics, according to Mashvisor’s investment property calculator: Median Property Price: $342,548 Price-to-Rent Ratio: 20 Traditional Rental Income: $1,457 Traditional Cap Rate / Cash on Cash Return: 1.8% Airbnb Rental Income: $2,568 Airbnb Cap Rate / Cash on Cash Return: 3.8% Airbnb Occupancy Rate: 50% As you can see, investing in the Virginia real estate market 2019 leads to a profitable property. Its average monthly traditional rental income is about $1,500, with a return on investment of 1.8%. VA is one of the nation’s best economies, with an unemployment rate of 2.8%, lower than the 3.9% national rate, which further bolsters its traditional housing market. This is especially the case with the announcement of new headquarters for Amazon and Apple to be located in Virginia. The Virginia housing market is also an excellent Airbnb market. Its average Airbnb rental income is over $2,500 and its average ROI is 3.8%. With its rich history, breathtaking natural sites, and warm beaches, the state has seen much success with Airbnb guests. In 2016, Virginia Airbnb investors generated over $41 million in profit. Related: Virginia Beach Real Estate Market: Should You Invest in Airbnb Here? Property statistics in the Virginia housing market 2019 are also noteworthy. The state’s median property price is more than the national average. Its price-to-rent ratio indicates that for the average Virginia houses for sale, renting is more affordable than buying. These two factors give Virginia real estate investors another advantage since there is a high demand for rental property. Where to Buy Rental Property in the Virginia Housing Market The Virginia real estate market is home to many money-making cities with investment opportunities. But where are the best places to invest in Virginia real estate? We’ve compiled data from our investment property calculator and listed the best cities in Virginia. The best cities for buying a rental property for traditional investing are Green Bay and Chase City. The best cities for buying a rental property for Airbnb investing are Portsmouth and Shenandoah. The Best Cities in the Virginia Housing Market: Traditional Green Bay Median Property Price: $118,250 Price-to-Rent Ratio: 5 Traditional Rental Income: $2,100 Traditional Cap Rate / Cash on Cash Return: 14.4% If you’re asking, “where to buy rental property with the highest ROI in Virginia?”, then look no further than Green Bay. With an average return on investment of a whopping 14.4%, the typical Green Bay investment property ensures investors that they will get the bang for their buck. Green Bay also boasts a low median property price, lower than both the state and national average. The combination of these factors makes Green Bay arguably the best place to invest in real estate for traditional investors. Chase City Median Property Price: $96,373 Price-to-Rent Ratio: 7 Price Per Square Foot: $59 Traditional Rental Income: $1,150 Traditional Cap Rate / Cash on Cash Return: 11.3% Another lucrative location for buying a rental property in VA is Chase City. This small town is home to big real estate investment opportunities. It is very profitable, with an ROI of over 11% and an average rental income of $1,150. The area is also among the most affordable housing markets in the entire state. This is reflected in its median property price of only $96,373, which is over three times less than the state median. The town’s cost of living is also 21.6% lower than the national average. The Best Cities in the Virginia Housing Market: Airbnb Portsmouth Median Property Price: $190,902 Price-to-Rent Ratio: 13 Price Per Square Foot: $112 Airbnb Rental Income: $2,848 Airbnb Cap Rate / Cash on Cash Return: 10.3% Airbnb Occupancy Rate: 63% The Virginia housing market 2019 is in no shortage of successful Airbnb locations. One of the most bankable of these locations is Portsmouth. A coastal city, Portsmouth is full of historical sites, some of which are the oldest in the nation. The city’s rich history attracts many tourists, and the results are seen with its stellar Airbnb statistics. Not only does Portsmouth have the highest average Airbnb return on investment in the state, but it also has one of the highest occupancy rates, at 63%. Related: Where Can You Find Airbnb Occupancy Rate Data for Real Estate Investing? Shenandoah Median Property Price: $148,995 Price-to-Rent Ratio: 13 Price Per Square Foot: $104 Airbnb Rental Income: $2,774 Airbnb Cap Rate / Cash on Cash Return: 9.3% Airbnb Occupancy Rate: 54% Shenandoah is home to the Shenandoah National Park. The park circles parts of the Blue Ridge Mountains, Shenandoah River, and Shenandoah Valley. The scenic natural beauty and wilderness of this location draw thousands of tourists every year. The city’s Airbnb market has certainly benefited from its natural beauty, as the average ROI is 9.3% and the average rental income is $2,774. All in all, the Virginia housing market 2019 is one of the best in the country. The versatility of investing in rental property for traditional or Airbnb purposes makes the state’s market very profitable. To get yourself started with Virginia houses for sale, click here to begin your investment property search! Start Your Investment Property Search! START FREE TRIAL AirbnbTraditional 0 FacebookTwitterGoogle +PinterestLinkedin Hamza Abdul-Samad Hamza is a long-time writer at Mashvisor. With a focus on real estate investing tips, concepts, and top investing locations, he aims to help all aspiring investors who come across his blogs to hit the bank with their investment property. Previous Post Investment Property Strategies Guide: Buy Low, Rent High Next Post The Ultimate Beginner’s Guide to Investing in Foreclosures Related Posts Cleveland Real Estate Is Becoming Popular To Investors Why Invest in Southwest Florida Real Estate Market Should You Invest in the New Orleans Real Estate Market 2020? 5 Reasons Why Chicago is a Top Airbnb City Investing in the Palm Springs Real Estate Market: What You Need to Know What Cap Rate for Rental Property Can You Expect in 2018? 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