Real Estate Investing in Williamsburg, Virginia (23188)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23188 (Williamsburg, 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.
- Elevated vacancy: 9.4% vacancy may signal weakening demand.
What’s happening in Williamsburg, VA (23188)?
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Market Analysis: 23188 Williamsburg
ZIP 23188 in Williamsburg, VA carries a resilient set of headwinds. Home values near $477K and rents of $2,070/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 23188 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 23188's metrics run below James City County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 23188 ZIP's population of 45,342 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Strategically, 23188 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Williamsburg:
Property Strategy for 23188
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $236,679 | $1,600 | 4.9% | +7.6% | $236,679 |
| 2BR | $305,992 | $1,810 | 4.3% | +6.8% | $152,996 |
| 3BR | $420,936 | $2,510 | 4.3% | +6.9% | $140,312 |
| 4BR | $546,458 | $2,960 | 3.9% | +7.1% | $136,614 |
| 5BR | $708,629 | — | — | +7.9% | $141,726 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23188 Compare?
| Metric | 23188 | Williamsburg | Virginia |
|---|---|---|---|
| Home Value | $476,604 | $472,500 | $403,170 |
| 5-Year CAGR | 5.5% | 5.7% | 6.4% |
| Avg Rent | $2,070 | $2,080 | - |
| Cap Rate | 3.4% | 3.4% | - |
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 23188 (Williamsburg, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $476,604 |
| Monthly Rent | $2,070 |
| Price-to-Rent | 19.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +4.6% ▲ |
🏠 Rent Trends
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +5.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). 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 23188
Population: 45,342
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 23188
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
What is the typical renter like in Williamsburg, VA?
Williamsburg, VA offers a stable renter base at the $2,070/mo rent level. Tenant turnover is reasonable for well-managed properties.
What is the typical vacancy rate in Williamsburg, VA?
Williamsburg, VA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Where do home prices stand in Williamsburg, VA?
Williamsburg, VA median home values land near $477K. That is reasonable territory for investors looking at $2,070/mo-per-month rentals.
Can I live-in-and-rent in Williamsburg, VA?
The house hack math a challenging in Williamsburg, VA. Owner-occupant buyers benefit from the $2,070/mo rents and $477K home values.
How strict are landlord regulations in Williamsburg, VA?
Williamsburg, VA operates under VA law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
You know 23188 now. You don’t know where it ranks.
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How 23188 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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