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Charlottesville, VA Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,999
Monthly Cash Flow
-$839
Principal + Equity
$2,693
Annual Total Gain
$22,244
Cash on Cash
-7.95%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$220
Occupancy Rate
56%
Monthly Revenue
$2,786
Monthly Cash Flow
-$470
Principal + Equity
$2,693
Annual Total Gain
$26,674
Cash on Cash %
-4.45%
Net ROI %
Market Health & Growth
Median Income
$69,829
Population
45,863
LTR Renter %
56.27%
Forecast (1 yr)
1.45%
Appreciation (1 yr)
1.59%
Appreciation (5 yr)
35.58%
Appreciation (10 yr)
70.15%
Job Growth
0.18%
LTR Rentability
Very Low
STR Demand
58
STR Rentals
813
Top Public Schools
BCharlottesville High School
BJackson P. Burley Middle School
B
B-
B-
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
A-
Overall
Top-level market grade
Most Diverse Places to Live in Virginia
#134out of 529 markets
Best Places for Young Professionals in Virginia
#76out of 529 markets
Places with the Best Public Schools in Virginia
#125out of 280 markets
B
Public School
C-
Crime And Safety
C-
Housing
A-
Nightlife
B
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Charlottesville, VA.
In Charlottesville, VA, Short Term Rental (STR) regulations are governed by the city's Zoning Ordinance. Investors looking to purchase a property for short term rental purposes should be aware of the following regulations:
1. Zoning Restrictions: Charlottesville has specific zoning districts where short term rentals are allowed. Investors should ensure that the property they are interested in is located in a district that permits short term rentals.
2. Permit Requirements: In order to operate a short term rental in Charlottesville, investors must obtain a permit from the city. The permit application process typically involves providing information about the property, including the number of bedrooms, bathrooms, and maximum occupancy.
3. Occupancy Limits: Charlottesville has occupancy limits for short term rentals, which vary depending on the zoning district. Investors should be aware of these limits and ensure that they comply with them.
4. Safety and Building Code Compliance: Short term rental properties in Charlottesville must meet certain safety and building code requirements. Investors should ensure that their property is up to code and safe for guests.
5. Taxation: Short term rental properties in Charlottesville are subject to transient occupancy taxes. Investors should be aware of their tax obligations and ensure that they are in compliance with local tax laws.
6. Noise and Nuisance Regulations: Charlottesville has regulations in place to address noise and nuisance issues related to short term rentals. Investors should be aware of these regulations and take steps to ensure that their property does not cause disturbances to neighbors.
Overall, investors looking to purchase a property for short term rental purposes in Charlottesville should familiarize themselves with the city's regulations and ensure that they are in compliance in order to operate a successful and legally compliant rental business.
Market Trends Over Time
Explore 25 years of market data for Charlottesville, VA, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Charlottesville, VA.
The LTR Genie Score of Charlottesville, VA is 52 and STR Genie Score is 60, indicating a moderate and high score respectively. The low LTR Rentability and Rent Growth Rate contribute to the moderate LTR Genie Score, while the high STR Genie Score is driven by the strong STR Net ROI and Occupancy rate. The 1-Year Price Appreciation Forecast is relatively low, suggesting potential for stable long-term growth.
Charlottesville, VA is a historic city known for its prestigious University of Virginia and picturesque surroundings. The real estate market is influenced by the university's presence, attracting students and faculty members as potential tenants for long-term rentals. Additionally, the city's tourism industry contributes to the demand for short-term rentals, especially during peak seasons.
Considering the metrics and market dynamics, Charlottesville, VA appears to be a more attractive market for short-term rental investment due to the higher Genie Score and potential for strong ROI. However, investors may also find opportunities in long-term rentals given the stable rental market and potential for appreciation. Ultimately, a diversified investment strategy that includes both long-term and short-term rentals could be beneficial in maximizing returns in Charlottesville, VA.
