Investing in Virginia
With one of the best school systems in the US, beautiful natural surroundings, and a close proximity to the nation's capital, Virginia is considered one of the best states to live in. The Nophin team crunched the numbers and found the five best places to invest in Virginia rental properties.
Statewide vacancy rates
Charlottesville is home to the University of Virginia and Thomas Jefferson's home, the Monticello.
- Population: 46,553
- Median household income: $59,598
- Median 1-bedroom monthly rent: $1,328
- Median listing home price: $464,500
Richmond is the capital of Virginia and an important city in the Revolutionary War and the Civil War.
- Population: 226,610
- Median household income: $51,421
- Median 1-bedroom monthly rent: $1,325
- Median listing home price: $345,000
Norfolk, a city located next to Virginia Beach, is home to the oldest military shipyard.
- Population: 238,005
- Median household income: $53,026
- Median 1-bedroom monthly rent: $1,250
- Median listing home price: $289,000
Roanoke is the 8th largest city in Virginia and is one of the most affordable place to live in the US.
- Population: 100,011
- Median household income: $45,664
- Median 1-bedroom monthly rent: $870
- Median listing home price: $259,300
Located across the Potomac River near Washington, DC, Arlington is considered one of the best cities to live in. With a steady supply of government jobs in the area and the headquarters of large companies like Boeing and Raytheon, the area is known for its opportunity.
- Population: 50,773
- Median household income: $222,587
- Median 1-bedroom monthly rent: $1,895
- Median listing home price: $2,000,000
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To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.