Looking for the best places to invest in Williamsburg, Virginia? Nestled between the York and James rivers, this East Coast town is overflowing with American colonial history. Favored for its location, residents of Williamsburg enjoy all the benefits of a small town feel while remaining within driving distance to some of the most famous cities on the coast. Williamsburg is ranked as one of the safest cities in the U.S. to live in and with all of the industries of neighboring cities, it’s easy to see why it would be an ideal place for families and young professionals alike. While the city of Williamsburg may be small, it’s still growing year-over-year, meaning rising rental rates, too. Combine this with the charming surrounding communities and easy access to many large cities, and you get an ideal place for investing. However, it is an expansive area with many different communities to choose from, some that investors may not even be aware of. In this article, we’ll list the best places to invest in Williamsburg and what type of properties, neighborhoods, and price ranges you can expect there.
Williamsburg City
Where is it located?
A little less than three hours south of Washington, D.C. and equally north of Raleigh, the city of Williamsburg sits on a peninsula surrounded by rivers and engulfed in famous East Coast foliage. Though charmingly tucked away, it’s not completely off the map. Residents also have direct access to I-64, making it easy for anyone who needs to commute into a city for work.
What types of properties are available?
Williamsburg is a large suburban area that is home to A- and B-class, single-family homes. Many of these homes are quite large and exist on expansive lots that offer plenty of yard space for residents. The B-class homes are priced closer to the national average while there are a few homes available that reach up into A+-class territory, with property costs increased accordingly. From newbuilds to renovated historic old homes, there is truly something for everyone in Williamsburg.
What other benefits are there?
Small town living and a well-placed suburb are major draws for residents of Williamsburg. This combined with the highly ranked schools make it an in-demand area for not only young professionals, but families as well.
Newport News
Where is it located?
Around 25 minutes south of Williamsburg is the city known as Newport News. Located at the end of the peninsula, Newport News is surrounded by the Atlantic Ocean and has four convenient bridges connecting it to Norfolk and the other surrounding peninsulas. The abundance of coastline is a draw for the residents of Newport News, and a mix of families and young professionals typically choose to live here.
What types of properties are available?
There’s an abundance of suburban newbuilds for sale in Newport which means, if you’re looking for a relatively inexpensive A-class single family home, this might be the perfect city to consider. Priced around average for the greater Norfolk area and comparable to Williamsburg, many of the homes in Newport News have large yards and are in close proximity to the coastlines in the area.
What other benefits are there?
For residents, one of the greatest benefits is the abundance of parks, greenspaces, and coastline to enjoy. Almost every home in Newport News is within a short driving distance to lush greenspaces, making it a suburban nature haven for those seeking the outdoors. Parks like Sandy Bottom nature park offer a sense of the great outdoors in an otherwise densely suburban area.
Norfolk
Where is it located?
Moving a bit further south, about 50 minutes from Williamsburg to be exact, is the expansive city of Norfolk. Located across the bridge from the peninsula holding Williamsburg and Newport News, this city has an abundance of coastline and modern conveniences for residents to choose from. Residents of Norfolk have access to a few interstates for easy travel as well as Norfolk International Airport, making it the ideal place for a resident on the go.
What types of properties are available?
Typically, you’ll find smaller B- and C-class homes available in Norfolk. These properties come with some pretty competitive price tags. Properties in Norfolk are priced significantly lower than what is average for the area, so if you’re looking to get your foot in the door, Norfolk might just be the place for you.
What other benefits are there?
There’s an abundance of coffee shops, dining, and entertainment in Norfolk, which makes it a draw for residents of the surrounding cities. For investors, one of the greatest reasons to choose Norfolk is that most residents rent their homes, and Norfolk State University is also located here. If you’re looking to become a landlord, Norfolk has no shortage of renters to ensure your investment property stays occupied.
The Meadows
Where is it located?
On the outskirts of Williamsburg, nestled up to the waterfront, is the neighborhood known as The Meadows. The area cozies up to the Jamestown Settlement, so there are an abundance of historic homes and museums in the area. While this is certainly a hotspot for history buffs, The Meadows still has all of the conveniences of modern suburban living, and the winding roads mean there are typically generous lot sizes available.
What types of properties are available?
As is typical for the area, The Meadows are made up of A- and B-class, single-family homes, many of which boast sprawling yards. The homes range in price from average to above average for the city of Williamsburg. The community surrounding The Meadows is quite rural, though, so while there is a range in prices available, you would be hard pressed to find an outlier mansion that spikes pricing in the area.
What other benefits are there?
Given that The Meadows are on the outskirts of Williamsburg, some of the area’s biggest draws are the community’s rural pockets. Residents can get all the space and privacy they need, while still sticking close to their favorite modern conveniences.
Lightfoot
Where is it located?
Just 14 minutes north of Williamsburg is the suburb known as Lightfoot. This small, historic community straddles the James-York county border and is home to a number of quirky local haunts for residents to explore. Just check out the Lightfoot Antique Mall, to see what we mean! Lightfoot is also close to an abundance of outdoor spaces and reservoirs, giving the area a charming, quaint, small-town feel.
What types of properties are available?
Largely, there are B-class, single-family homes located in Lightfoot. The homes here are priced at or below average for the area, and are a great place to start your search when considering the Williamsburg area. Like many of the communities in Williamsburg, the homes in Lightfoot are typically located on larger lots, which makes it ideal for buying and building an ADU, if you’re an investor looking for a project.
What other benefits are there?
Since it’s farther from the cities, Lightfoot offers a more rural and naturalistic lifestyle. There are plenty of recreational activities available, such as hiking and nature exploration. It has also seen significant growth over the last several years, as more and more residents move to call the area home. Finally, Lightfoot is well connected to major highways, including Interstate 64 and Highway 60, which may be an appealing aspect for commuters.
Final Thoughts: Best Places to Invest in Williamsburg
So, where are you thinking you might like to invest? Each area, at its own distance from Williamsburg City, also has its very own subculture. Investors can expect to find affluent neighborhoods, culturally rich and historical scenes, and suburban nature havens alike. Long story short: They each have their own unique pros and cons. To get the best feel for where you’d like to invest, it always helps to talk to an expert who has boots-on-the-ground knowledge and knows each neighborhood like the back of their hand. Our Williamsburg team is always happy to help and answer any questions you might have. If you’d like to learn more about the Williamsburg market as a whole, including population insight, renal market trends, and more, download our Williamsburg Market Deep Dive.
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