1st Advantage MortgageHampton is a VA market where the rent-to-payment ratio decides the loan. Median rent is $1,427, median home value is $245,700 and 43% of households rent.
Hampton by the Census numbers
The Census Bureau's 2020 to 2024 American Community Survey puts median gross rent in Hampton at $1,427, about 10% below the Virginia median of $1,579. Median home value sits at $245,700, which is well below the Virginia median of $383,700. Put the two medians together and Hampton shows a gross yield of 7.0%, close to the range investors often call workable. Because the rent number covers apartments as well as houses, expect single-family rentals to land above or below it.
| Indicator | Virginia | Hampton | Difference |
|---|---|---|---|
| Annual property tax bill, median | $2,790 | $2,327 | -17% |
| Household income, median | $93,170 | $69,621 | -25% |
| Typical owner-occupied value | $383,700 | $245,700 | -36% |
| Typical monthly rent | $1,579 | $1,427 | -10% |
| Persons per household | 2.52 | 2.30 | |
| Long commuters, 45 min plus | 17.6% | 10.6% | -40% |
| Degree holders, age 25+ | 42.2% | 28.5% | -32% |
| Workers on their own account | 8.6% | 6.4% | -26% |
| Renters paying 30%+ of income | 48.5% | 57.3% | +18% |
| Units sitting vacant | 8.7% | 7.2% | -16% |
| Typical construction year | 1984 | 1974 | |
| Annual rent divided by value | 4.9% | 7.0% | +41% |
| Households that rent | 32.7% | 43.1% | +32% |
| Tax as a share of home value | 0.73% | 0.95% | +30% |
| Residents (Census estimate) | 8,705,170 | 137,557 |
43.1% of Hampton households rent, well above the Virginia median of 33%. That is a healthy base of tenants without the churn of a pure student or military town. Median household income of $69,621 (well below the Virginia median of $93,170) sets the ceiling for rent growth, and 57% of renters already spend 30 percent or more of income on rent.
Housing mix and age in Hampton
About 63% of Hampton's housing is detached single-family, which means a typical rental purchase is a house with its own roof, yard and repair schedule. The median structure went up in 1974, so request ages for the roof, HVAC and water heater on any rental you consider.
The Census counts 7% of Hampton housing units as vacant, with a rental vacancy figure of 6.4%.
Reading Hampton as an investor
With a gross ratio near 7.0%, Hampton rewards buyers who negotiate price and shop insurance, because the margin above the lender's threshold is not wide. Median build year 1974 puts the typical Hampton rental in its second set of major systems. A 43% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
Carrying costs in Hampton
Homeowners in Hampton paid a median $2,327 in real estate taxes, about 17% below the Virginia median of $2,790, an effective rate near 0.95% of home value against 0.73% statewide. Compared with annual median rent, the tax line is about 14%.
For hazards, FEMA's National Risk Index puts Hampton County at a relatively low overall rating, and its top-ranked hazards are hurricanes (relatively moderate), coastal flooding (relatively moderate) and lightning (relatively moderate).
| Hazard in Hampton County, FEMA index | Level |
|---|---|
| Ice storms exposure | Relatively Moderate |
| Lightning exposure | Relatively Moderate |
| Coastal flooding exposure | Relatively Moderate |
| Hurricanes exposure | Relatively Moderate |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Many investors meet insurance too late, so get a quote tied to the Hampton property's roof age and flood zone before you waive your inspection period.
A worked DSCR test for Hampton
Worked through with this city's own medians: rent of $1,427 against taxes of about $194 a month leaves $1,233 for principal, interest, insurance and dues at a 1.00 ratio, and $948 at a 1.25 ratio. That arithmetic is the whole game, and the real rent and quotes for your address replace these medians.
What VA law and Hampton require of landlords
We have not confirmed a city-specific rental registration or nightly-stay permit program for Hampton, so check with the city and with the independent city of Hampton before you buy, and look at any HOA or condominium rules that can be stricter than the city's. Guests who book by the night in Hampton are taxed under state law as follows. Virginia applies its retail sales tax to short-term accommodations, and localities may levy a transient occupancy tax on stays of fewer than 30 consecutive days.
After move-out, the Hampton owner has 45 days to return the deposit or account for deductions.
Neighbors of Hampton by the numbers
Among the nearby markets above, Newport News has the lowest median home value at $260,600 and Virginia Beach the highest at $382,500, against $245,700 in Hampton.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Chesapeake | 26% | $3,108 | $378,400 | 252,583 | $1,586 |
| Virginia Beach | 35% | $3,061 | $382,500 | 456,349 | $1,714 |
| Newport News | 52% | $2,634 | $260,600 | 184,216 | $1,339 |
| Norfolk | 54% | $2,890 | $289,900 | 233,596 | $1,321 |
| Hampton | 43% | $2,327 | $245,700 | 137,557 | $1,427 |
What fills Hampton rentals
The self-employed share of the workforce is 6.4%, and those owners tend to be exactly the buyers DSCR financing was built for. The same survey shows government workers are about 24% of employment, 29% of adults hold a bachelor's degree or higher and 11% of commuters travel 45 minutes or more.
Hampton University, Virginia Peninsula Community College, Christopher Newport University and Old Dominion University are the named colleges for the Hampton area, a source of steady tenants but also of a lease cycle that follows the academic calendar. Transportation links include interstate access via I-64 and air service through Norfolk International Airport and Newport News/Williamsburg International Airport. Easy highway and air access helps both tenant commutes and remote ownership.
Putting a Hampton file together
Bring the Hampton numbers to a loan officer: the rent, the taxes, the insurance and your reserves. Apply online or ask for a quote, and use the calculator to preview the ratio.
More Virginia markets
- All Virginia DSCR loans
- DSCR loans in Norfolk, VA
- DSCR loans in Newport News, VA
- DSCR loans in Virginia Beach, VA
- DSCR loans in Chesapeake, VA
- Every market we cover
Source links
- Census ACS profile behind the Hampton figures
- FEMA National Risk Index
- Background reading: Hampton, Virginia
- Virginia landlord deposit rules, Va. Code §§ 55.1-1226(A), 55.1-1208(A)(7)
- State rule cited for Hampton hosts: Virginia Tax, accommodations
- Virginia tax source: Va. Code 58.1-3819
Numbers for Hampton come from the Census Bureau's 2020 to 2024 ACS and are survey estimates. For Virginia tenant law we used RedFlagLease under CC BY 4.0 plus the linked statutes. Last reviewed October 2026; the city and county have the final word on Hampton rules.
A short buyer checklist
Before you commit on a Hampton deal, confirm the rent with the lease or a market estimate, price the insurance for the exact address, and check how the taxes may change after the sale, so the ratio you run matches the one the lender calculates.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Which rent counts when I finance a Hampton property?
Underwriters take the lease if one exists and compare it with the appraisal's rent estimate; the lower figure often governs. Hampton median rent is $1,427.
Do taxes and insurance count in the Hampton DSCR ratio?
They do. Rent of $1,427 divided by 1.25 gives about $1,142 as the payment ceiling, and $194 of that is spoken for by the median Hampton tax bill.
Are Hampton property taxes high for Virginia?
Typical owners pay $2,327, or 0.95% of home value, with Virginia overall at 0.73%. Do not assume the seller's bill carries over to you.
Can I use Airbnb income to qualify in Hampton?
It depends on the program and on local law. A Hampton owner needs the right permit or registration, an association that allows nightly stays, and documented bookings.
What are the security deposit rules for a Virginia landlord?
Return: 45 days. Statute: Va. Code §§ 55.1-1226(A), 55.1-1208(A)(7). Confirm current text before you rely on it.
Should I worry about hazards at a Hampton property?
Overall risk is rated relatively low for the county. Because the rating covers a whole county, look up the specific property on FEMA's flood map before you offer.
Is an entity required for a VA DSCR loan?
Many Hampton investors do, though no rule forces it. The loan is secured by the property either way, and the lender will check who controls the company.