Real Estate Investing in Gloucester, Virginia (23061)
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Should you buy in 23061 (Gloucester, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.6% of homes vacant — above national norms.
What’s happening in Gloucester, VA (23061)?
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Market Analysis: 23061 Gloucester
The 23061 ZIP covers a section of Gloucester that demands careful diligence. Prices near $386K look accessible, but the work to make a deal cash flow is real.
The investment case in 23061 is substantial only for operators who understand what they are buying. A $386K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 23061 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 23061 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Distressed ZIPs reward experience. robust returns are possible in 23061, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Gloucester:
Property Strategy for 23061
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $245,070 | $1,360 | 4.0% | +7.5% | $245,070 |
| 2BR | $293,420 | $1,540 | 3.8% | +7.8% | $146,710 |
| 3BR | $365,018 | $2,140 | 4.2% | +7.7% | $121,673 |
| 4BR | $473,736 | $2,510 | 3.8% | +7.8% | $118,434 |
| 5BR | $552,212 | — | — | +7.3% | $110,442 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23061 Compare?
| Metric | 23061 | Gloucester | Virginia |
|---|---|---|---|
| Home Value | $386,072 | $376,301 | $403,170 |
| 5-Year CAGR | 6.1% | 6.2% | 6.4% |
| Avg Rent | $2,100 | $1,546 | - |
| Cap Rate | 4.2% | 3.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23061 (Gloucester, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $386,072 |
| Monthly Rent | $2,100 |
| Price-to-Rent | 15.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 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 (4.2%). 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 23061
Population: 23,219
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 23061
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Are homes affordable in Gloucester, VA?
Gloucester, VA median home values land near $386K. That is reasonable territory for investors looking at $2,100/mo-per-month rentals.
How strong is the working-renter base in Gloucester, VA?
Tenant demand in Gloucester, VA is solid. The local workforce $2,100/mo rents across most rental classes.
What do rentals go for in Gloucester, VA?
Average rent in Gloucester, VA is approximately $2,100/mo per month. Against $386K home values that yields a reasonable rent-to-price ratio.
What type of investing works in Gloucester, VA?
A careful cash-flow rentals with hands-on management strategy Gloucester, VA best. The market produces stable results for that approach at the $386K price point.
Is rental property easy to operate in Gloucester, VA?
Landlord-friendliness in Gloucester, VA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 23061 now. You don’t know where it ranks.
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How 23061 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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