Real Estate Investing in Palmyra, Virginia (22963)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22963 (Palmyra, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.6% vacancy may signal weakening demand.
What’s happening in Palmyra, VA (22963)?
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Market Analysis: 22963 Palmyra
This part of Fluvanna County is not an easy win. The 22963 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $380K asset, 22963 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 22963 sits on the difficult end of the VA spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 22963 includes headwinds that any investor should price in. Income distribution skews lower than Palmyra averages, and tenant stability requires active management.
New investors are better served looking at Palmyra's stable or hybrid ZIPs before stepping into 22963. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Palmyra:
Property Strategy for 22963
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $295,376 | $2,020 | 4.9% | +7.9% | $147,688 |
| 3BR | $343,910 | $2,460 | 5.2% | +8.1% | $114,637 |
| 4BR | $440,555 | $3,020 | 4.9% | +7.6% | $110,139 |
| 5BR | $550,729 | — | — | +7.3% | $110,146 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 22963 Compare?
| Metric | 22963 | Palmyra | Charlottesville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $380,471 | $380,471 | N/A | $403,170 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 6.4% |
| Avg Rent | $2,000 | $2,000 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 22963 (Palmyra, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $380,471 |
| Monthly Rent | $2,000 |
| Price-to-Rent | 15.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +2.5% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 22963
Population: 16,786
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 22963
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What are vacancy rates like in Palmyra, VA?
Palmyra, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
What price range are homes in Palmyra, VA?
Median home price in Palmyra, VA is near $380K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Is Palmyra in VA worth investing in?
Our data puts Palmyra, VA at 3.0/5 for investability. Home prices of $380K and rents around $2,000/mo create a solid backdrop for investor activity.
Is rental property easy to operate in Palmyra, VA?
The landlord environment in Palmyra, VA is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What strategy should investors use in Palmyra, VA?
A careful cash-flow rentals with hands-on management strategy Palmyra, VA best. The market produces measured results for that approach at the $380K price point.
You know 22963 now. You don’t know where it ranks.
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How 22963 ranks in Charlottesville, VA
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