Rent vs Buy in Virginia
Compare 17 cities across Virginia. Find out whether renting or buying makes more financial sense in your area.
17cities analyzed
Avg Home:$362,353
Avg Rent:$1,609/mo
Avg Price/Rent:18.9
Virginia Housing Market Summary
17
Cities Analyzed
4
Favor Buying
1
Favor Renting
12
Toss-Up
Across Virginia's 17 analyzed cities, the results are mixed with no clear winner statewide. Your decision depends heavily on which city you're considering.
The average home price in Virginia is $362,353, with average rents at $1,609/month. This gives an average price-to-rent ratio of 18.9.
$Most Affordable Cities
$$Most Expensive Cities
All Virginia Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Virginia Beach | $390,000 | $1,950 | 16.7 | 5 yrs | Buy |
| Chesapeake | $375,000 | $1,650 | 18.9 | 6 yrs | Toss-up |
| Norfolk | $350,000 | $1,800 | 16.2 | 3 yrs | Buy |
| Richmond | $380,000 | $1,750 | 18.1 | 8 yrs | Toss-up |
| Newport News | $410,000 | $1,600 | 21.4 | 8 yrs | Toss-up |
| Alexandria | $375,000 | $1,750 | 17.9 | 7 yrs | Toss-up |
| Hampton | $355,000 | $1,600 | 18.5 | 8 yrs | Toss-up |
| Roanoke | $410,000 | $1,500 | 22.8 | 13 yrs | Rent |
| Suffolk | $335,000 | $1,450 | 19.3 | 6 yrs | Toss-up |
| Lynchburg | $385,000 | $1,750 | 18.3 | 8 yrs | Toss-up |
| Harrisonburg | $385,000 | $1,550 | 20.7 | 8 yrs | Toss-up |
| Charlottesville | $350,000 | $1,450 | 20.1 | 8 yrs | Toss-up |
| Manassas | $330,000 | $1,750 | 15.7 | 4 yrs | Buy |
| Danville | $370,000 | $1,500 | 20.6 | 9 yrs | Toss-up |
| Petersburg | $305,000 | $1,450 | 17.5 | 9 yrs | Toss-up |
| Fredericksburg | $305,000 | $1,500 | 16.9 | 5 yrs | Buy |
| Staunton | $350,000 | $1,350 | 21.6 | 7 yrs | Toss-up |
Compare Other States
Run Your Own Numbers
These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
Open Full Calculator