Are you wanting to invest in real estate? The Hampton Roads rental market has proven to be very lucrative for many investors!
Seven cities make up the Hampton Roads metropolitan area along the Virginia coast. With a combined population of around 1.7 million, the region offers a lot of opportunities to investors looking to purchase and operate rental properties.
Whatever your investment goals may be, Hampton Roads can satisfy them. That said, you need to ensure that you are prepared to invest and that you’re looking for properties in the right neighborhoods. So take a closer look at what this vibrant region offers and start planning your next investment.
Top Neighborhoods in Hampton Roads
Here are some of best areas investors should consider when looking to purchase a property in Hampton Roads:
Buckroe Beach
It’s a terrific spot to rent and explore, and one of Hampton Roads’ most underrated beaches! It’s situated on the Virginia shore, in the northeastern part of the region, and is surrounded by a number of communities. Buckroe Beach is quite advantageous for those working in the military as it’s adjacent to Langley Air Force Base and around 25 minutes from Fort Eustis.
Additionally, Busch Gardens, Water Country, Ripley’s, and Go-Karts Plus can all be reached within 20 to 30 minutes. Families will enjoy it here as well because the waves are gentle and the beach is well-kept.
These elements work together to produce a market that is ripe for investment homes. Since Buckroe Beach is far less crowded than the beaches in the Virginia Beach vicinity, one may take in the breathtaking scenery without having to put up with crowds. As an investor, several target tenant demographics are drawn to this area including working professionals, military members, and family members.
Fox Hill
Fox Hill, which can be found in Hampton’s eastern region, and to the south is Buckroe and Phoebus. The majority of the neighborhood is made up of homes, with a few businesses sprinkled throughout. Fox Hill stretches from Bloxoms Corner to Grandview Island along Beach Road.
The neighborhood is quiet family-friendly and secure according to locals. During the holidays, there are community Christmas parades and community yard sales.
Fox Hill is a lovely community close to undeveloped woodlands, the marinas, and the ocean. Residents have quick access to I-64 and I-664, making it simple to commute to Langley Air Force Base, Camp Peary, Newport News Shipyard, and NASA.
As an investor, you can look to target people working in these industries, or those wanting to settle down in the area.
Northampton
Northampton is a neighborhood in the western portion of the city that is made up of homes, apartments, shopping malls, and schools. Forrest Elementary School, Bethel High School, Tucker-Capps Elementary School, Jefferson Davis Middle School, and Phoenix PreK-8 are just a few of the many schools in this neighborhood.
With a variety of property types to choose from and excellent local amenities, this area offers plenty of investment opportunities.
Greater Wythe
Greater Wythe, Virginia is a waterfront community that is steadily developing, with new homes being built and businesses undergoing remodeling projects. It’s in a calm area and near to the James River. There are convenient parks close by and people are frequently seen walking their dogs throughout the neighborhood.
Beautiful, reasonably priced properties with unhindered views of the Chesapeake Bay may be found in Greater Wythe. Its real estate prices are less costly than the average for Hampton overall providing investors with varying budgets and plenty of options.
Willow Oaks
A more well-known neighborhood in Hampton is Willow Oaks since it’s surrounded by places to dine, shop, and engage in outdoor activities. This 3.6 square miles residential area offers rental opportunities for both commercial and residential properties.
Although most people in Willow Oaks own their homes, there are still several rental alternatives available. There are ready-to-move-in rental apartments available that are specifically made to accommodate senior citizens.
This peaceful residential area is close to parks and just minutes from Langley Air Force Base and Ft. Monroe, and the I-64 is also easily accessible. An area is a great place for families to live for a variety of reasons. There is a variety of quality schools for children of all ages and the community offers residents some privacy and quiet as well.
Downtown
Restaurants, bars, parks, museums, marinas, and galleries can be found along the tree-lined streets of downtown. There are events held throughout the year in the charming and energetic downtown area of Hampton. If you want something to do every weekend, living here is a terrific choice.
Every Saturday during the summer, unwind while listening to live music at the Docks in Downtown Hampton. It’s a great chance to socialize, unwind by the sea, and savor a delectable meal at one of the surrounding eateries. Residents will have pretty immediate access to a bunch of great amenities allowing the properties in the downtown areas to practically market themselves.
The Bottom Line
Hampton Roads offers a variety of benefits to the residents who choose to live here, including easy access to tranquil beaches and waterfronts, affordable housing, and pleasant weather. What’s more, the city is in a terrific location, giving residents access to interesting, historic cities.
The best areas to invest in Hampton Roads include Greater Wythe, Willows Oaks, the Downtown area, Fox Hill, Buckroe Beach, and Northampton. These neighborhoods have diverse property types and target tenant demographics, providing plenty of opportunities for investors.
If you would like to becoming a property owner or are looking to expand your real estate investment portfolio, working industry experts. Keyrenter Property Management Hampton Roads is the leading service provider in the area. We can help you invent in the right neighborhood and maximize your ROI. What’s more, we’ll make sure that your properties are managed professionally to ensure your peace of mind.
Contact us today to learn more!