The Zillow Home Value Index reveals fascinating patterns in Virginia’s more affordable coastal real estate markets from 2015 through 2024. Most striking is the concentration of value in the Hampton Roads metropolitan area, with four of the ten most affordable coastal communities – Portsmouth, Hampton, Newport News, and Norfolk – all situated within this vital maritime region.
The data shows remarkable appreciation across these communities, with West Point and Onancock leading the pack at 86.5% growth since 2015. The Eastern Shore communities of Onancock and Exmore demonstrate particularly strong value propositions, with Exmore maintaining the lowest median home value at $180,524 despite showing robust 44.1% growth since 2020.
The geographical distribution of these communities reveals interesting market dynamics. The Northern Neck’s Colonial Beach and West Point represent the northern bounds of this affordable coastal market, while the Eastern Shore’s Exmore anchors the southern end. The Hampton Roads communities cluster in the middle range, suggesting a regional pricing equilibrium influenced by their shared economic ecosystem. Notably, post-pandemic growth has been most dramatic in Onancock at 55.3%, while Mathews showed the most modest appreciation since 2020 at 26.7%, indicating varying degrees of market response to recent economic conditions.
Please note that coastal includes towns on bays and harbors. Also, the median home prices are not median waterfront home prices.
1. Colonial Beach, VA
This charming Northern Neck destination presents an intriguing value proposition with its 2024 median home price of $316,784. The town’s market journey began at $219,669 in 2015, rose modestly to $227,962 by 2020, before accelerating to its current value, representing a solid 44.2% nine-year appreciation and a robust 39.0% post-pandemic surge, reflecting growing recognition of its waterfront appeal.
About Colonial Beach
Colonial Beach is a charming resort town located on the southern bank of the Potomac River in Westmoreland County, Virginia, just across from Maryland. Known as Virginia’s only seaport town, it features a picturesque historic downtown with Victorian-era architecture, a scenic waterfront, and a popular boardwalk that attracts both locals and visitors. The local economy is primarily driven by tourism, supported by boating and fishing industries, marinas, and a variety of hospitality businesses such as hotels, restaurants, and shops. Additionally, Colonial Beach hosts annual events and festivals that celebrate its maritime heritage, enhancing its appeal as a vibrant destination for recreation and relaxation.
Where is Colonial Beach?
Colonial Beach is a scenic resort town located in Westmoreland County, Virginia, situated on the southern bank of the Potomac River. Positioned approximately 75 miles south of Washington, D.C., it lies directly across the river from Maryland, making it a popular getaway for residents of the capital region. Accessible via U.S. Route 301, Colonial Beach features a charming historic downtown with Victorian-era architecture and a picturesque waterfront ideal for boating and fishing. The town is also known for its beautiful beaches, the Colonial Beach Pier, and annual events like the Virginia Freedom Festival, which celebrate its rich maritime heritage and vibrant community spirit.
2. West Point, VA
Situated at the confluence of the Mattaponi and Pamunkey Rivers, West Point demonstrates remarkable market momentum with its current value of $310,628. Starting from a modest $166,516 in 2015, climbing to $209,650 in 2020, the town has achieved one of the highest long-term appreciation rates at 86.5%, complemented by a strong 48.2% growth since 2020.
About West Point
West Point is a historic town located in King William County, Virginia, where the Mattaponi and Pamunkey Rivers converge to form the York River. Renowned for its rich colonial heritage, the town features landmarks such as the West Point Waterfront Park and the historic Old Brick Church, attracting history enthusiasts and visitors alike. The local economy is supported by industries like agriculture, fishing, and tourism, with the scenic waterfront providing ample opportunities for boating, fishing, and recreational activities. Additionally, West Point hosts cultural events and festivals that celebrate its maritime legacy, making it a charming destination on Virginia’s picturesque Northern Neck Peninsula.
Where is West Point?
West Point is a historic town situated in King William County, Virginia, where the Mattaponi and Pamunkey Rivers converge to form the York River. Located approximately 25 miles southeast of Richmond and about 50 miles southwest of Williamsburg, it lies within easy reach of both the state capital and popular tourist destinations. Accessible via U.S. Route 360, West Point serves as a key gateway to the York River and the surrounding Hampton Roads metropolitan area. Its strategic waterfront location has historically made it an important hub for transportation, commerce, and maritime activities in the region.
3. Mathews, VA
This Middle Peninsula gem holds steady at $299,784 in 2024, evolving from its 2015 value of $214,140 through a 2020 benchmark of $236,526. While posting the most conservative long-term growth at 40.0% since 2015 and 26.7% since 2020, these numbers suggest a stable, measured market appreciation pattern.
About Mathews
Mathews is a scenic town located on Virginia’s Middle Peninsula, where the Rappahannock River meets the Chesapeake Bay. The local economy is driven by maritime industries such as fishing, crabbing, and boat building, as well as a thriving tourism sector that highlights its waterfront charm and historic downtown. Unique features include Port Mathews with its bustling marinas and boatyards, the annual Virginia Freedom Festival, and nearby natural attractions like the Mobjack Bay National Wildlife Refuge. Additionally, Mathews offers a variety of outdoor recreational activities, charming local shops, and vibrant community events, making it a quintessential Chesapeake Bay destination for both residents and visitors.
Where is Mathews?
Mathews is a small town situated on Virginia’s Middle Peninsula, where the Rappahannock River meets the Chesapeake Bay. It serves as the county seat of Mathews County and is located approximately 75 miles east of Richmond and about 90 miles southwest of Norfolk. Accessible via U.S. Route 17 and U.S. Route 522, Mathews acts as a gateway to the region’s scenic waterways and nearby natural attractions. Its strategic location offers easy access to both riverine and bay areas, making it an important hub for local transportation and recreation.
4. Norfolk, VA
As a cornerstone of the Hampton Roads region, Norfolk exhibits strong market fundamentals with its 2024 value of $297,070. The city’s progression from $181,058 in 2015 to $213,488 in 2020 represents steady growth, culminating in a 64.1% nine-year appreciation and 39.2% post-pandemic increase, reflecting its enduring appeal as a maritime hub.
About Norfolk
Norfolk, Virginia is a vibrant coastal city located in the southeastern part of the state, where the Elizabeth River meets the Chesapeake Bay. It is home to one of the world’s largest naval bases, Naval Station Norfolk, making the military a cornerstone of its economy. Unique features include the revitalized waterfront area known as Waterside District, the historic Chrysler Museum of Art, and the lively downtown scene with its diverse restaurants and entertainment venues. Additionally, Norfolk boasts a rich cultural heritage, extensive maritime industries, and a thriving arts and music community, making it a dynamic hub for both business and leisure.
Where is Norfolk?
Norfolk, Virginia is a major coastal city located in the southeastern part of the state, situated on the southeastern tip of the Virginia Peninsula where the Elizabeth River meets the Chesapeake Bay. It is part of the Hampton Roads metropolitan area and lies approximately 200 miles south of Washington, D.C., and about 170 miles east of Richmond. Accessible via Interstate 64 and Interstate 264, Norfolk serves as a key transportation hub, home to one of the largest naval bases in the world, Naval Station Norfolk. The city’s strategic waterfront location has historically made it an important center for maritime industries, including shipbuilding, shipping, and logistics, while also offering vibrant cultural attractions and a bustling downtown area.
5. Surry, VA
This historic James River community commands a 2024 value of $293,180, up from $175,803 in 2015 and $217,356 in 2020. The town’s value trajectory shows impressive 66.8% growth since 2015 and a solid 34.9% appreciation since 2020, highlighting its emerging appeal as an affordable waterfront alternative.
About Surry
Surry County is located in the eastern part of Virginia, nestled along the James River and forming part of the Hampton Roads metropolitan area. A key feature of the county is the Surry Nuclear Power Plant, which plays a significant role in the local economy, alongside traditional industries such as agriculture and fishing. The area is rich in history, home to landmarks like the Jamestown Surrender State Park and the historic Surry County Courthouse, attracting history enthusiasts and tourists alike. Additionally, Surry County boasts scenic natural landscapes, including parks and waterways that offer ample opportunities for outdoor recreation and contribute to its rural charm.
Where is Surry?
Surry County is located in the eastern part of Virginia, along the James River and is part of the Hampton Roads metropolitan area. A major feature of the county is the Surry Nuclear Power Plant, which is a key component of the local economy alongside traditional industries like agriculture and fishing. The area is rich in history, home to landmarks such as Jamestown Surrender State Park, and offers scenic natural landscapes that provide ample opportunities for outdoor recreation and tourism.
6. Onancock, VA
This Eastern Shore treasure has seen remarkable appreciation, reaching $280,245 in 2024 from humble beginnings of $150,243 in 2015 and $180,484 in 2020. Onancock’s market performance is exemplary, matching West Point with 86.5% growth since 2015 and leading all communities with a dramatic 55.3% post-pandemic surge.
About Onancock
Onancock is a picturesque town located on Virginia’s Eastern Shore in Accomack County, where the Chincoteague Bay meets the Chesapeake Bay. Renowned for its well-preserved historic downtown, the town boasts charming 19th-century architecture, vibrant art galleries, and the popular Eastern Shore Theatre, making it a cultural hub for the region. The local economy is driven by maritime industries such as fishing and boating, alongside a thriving tourism sector that attracts visitors to its waterfront parks, boutique shops, and annual events like the Onancock Blue Crab Festival. Additionally, Onancock is celebrated for its scenic waterfront views, scenic trails, and a strong sense of community, making it a beloved destination for both residents and tourists.
Where is Onancock?
Onancock is a charming historic town located on Virginia’s Eastern Shore in Accomack County. Situated near the confluence of the Chincoteague Bay and the Chesapeake Bay, it lies approximately 15 miles north of Chincoteague Island and about 150 miles east of Washington, D.C. The town is accessible via U.S. Route 13, which runs along the Delmarva Peninsula, connecting Onancock to other key communities in the region. Positioned on the waterfront, Onancock serves as a gateway to nearby natural attractions and offers scenic views, making it a central hub for local transportation and tourism.
7. Newport News, VA
The shipbuilding city presents compelling value at $278,731 in 2024, having climbed steadily from $161,193 in 2015 through $187,724 in 2020. Newport News’s growth story includes an impressive 72.9% appreciation since 2015 and a robust 48.5% gain since 2020, reflecting its strong industrial base and waterfront assets.
About Newport News
Newport News is an independent city in Virginia, located on the Virginia Peninsula along the James River as part of the Hampton Roads metropolitan area. It is a major hub for the shipbuilding industry, home to Newport News Shipbuilding, one of the largest and most prominent shipyards in the United States, which plays a crucial role in both commercial and military maritime construction. Unique features of the city include the Mariners’ Museum, one of the largest maritime museums in the world, the Virginia Living Museum, and the historic Peninsula Town Center, which offers a variety of shopping, dining, and entertainment options. Additionally, Newport News boasts vibrant cultural scenes, numerous parks and waterfront areas, and serves as a key center for transportation and commerce in the region.
Where is Newport News?
Newport News is an independent city in southeastern Virginia, forming part of the Hampton Roads metropolitan area on the Virginia Peninsula along the James River. Located approximately 200 miles southeast of Washington, D.C., and about 170 miles east of Richmond, it is accessible via major highways like Interstate 64 and Interstate 664. The city is renowned for Newport News Shipbuilding, one of the largest shipbuilding facilities in the United States, and features cultural attractions such as the Mariners’ Museum and the Virginia Living Museum.
8. Hampton, VA
This historic Virginia port city demonstrates steady appreciation, reaching $262,000 in 2024 from $148,293 in 2015 and $175,148 in 2020. Hampton’s market performance shows strong 76.7% growth since 2015 and a healthy 49.6% gain since 2020, reflecting its enduring appeal as a waterfront community.
About Hampton
Hampton, Virginia is a historic city situated on the Virginia Peninsula within the Hampton Roads metropolitan area, bordered by the James River and the Chesapeake Bay. The local economy is driven by prominent industries such as aerospace and defense, featuring the NASA Langley Research Center and several major military installations. Unique features of Hampton include the Fort Monroe National Monument, the Virginia Air and Space Center, and the scenic waterfront with extensive parks and recreational facilities. Additionally, the city boasts a rich cultural heritage with numerous museums, historic districts, and vibrant community events that celebrate its long-standing history and diverse population.
Where is Hampton?
Hampton, Virginia is a city rich in history located on the Virginia Peninsula within the Hampton Roads metropolitan region, flanked by the James River to the north and the Chesapeake Bay to the south. Located approximately 15 miles southeast of Newport News and about 200 miles south of Washington, D.C., it is easily accessible via major highways such as Interstate 64. The city is home to significant landmarks like Fort Monroe, a historic military installation, and the NASA Langley Research Center, a key hub for aerospace research and development. Hampton’s economy is driven by aerospace and defense industries, maritime commerce, and a vibrant tourism sector that showcases its rich history, scenic waterfront, and numerous cultural attractions.
9. Portsmouth, VA
This vital Hampton Roads port city offers remarkable value at $251,312 in 2024, rising from $142,567 in 2015 through $170,820 in 2020. Portsmouth’s growth narrative includes impressive 76.3% appreciation since 2015 and a solid 47.1% gain since 2020, highlighting its position as an affordable maritime community.
About Portsmouth
Portsmouth, Virginia is situated along the Elizabeth River on the Virginia Peninsula. The local economy is prominently driven by the Portsmouth Naval Shipyard, one of the largest naval shipyards in the United States, alongside key industries such as manufacturing, healthcare, and education. Unique features of Portsmouth include its historic Olde Towne district, which showcases preserved 19th-century architecture, the scenic Portsmouth Waterfront with parks and recreational areas, and cultural attractions like the Portsmouth Art & Cultural Center. Additionally, the city hosts various community events and festivals that celebrate its rich maritime heritage and vibrant local culture, making it a dynamic and welcoming destination for both residents and visitors.
Where is Portsmouth?
Portsmouth is an independent city located in the southeastern region of Virginia, forming part of the Hampton Roads metropolitan area. It sits on the western shore of the Elizabeth River on the Virginia Peninsula, directly across from the city of Norfolk. Approximately 200 miles south of Washington, D.C., Portsmouth is easily accessible via major highways such as Interstate 264 and U.S. Route 17. Its strategic position along the river and proximity to other key cities make it an important hub within the region.
10. Exmore, VA
Anchoring the affordable end of Virginia’s coastal market, Exmore presents the most accessible entry point at $180,524 in 2024, having grown from $120,563 in 2015 and $125,275 in 2020. The town’s value evolution shows steady 49.7% growth since 2015 and an accelerated 44.1% gain since 2020, marking it as an emerging value opportunity on Virginia’s Eastern Shore.
About Exmore
Exmore is a charming town located in Northampton County on Virginia’s Eastern Shore, nestled near the Chesapeake Bay and Chincoteague Bay. The local economy is primarily driven by agriculture, fishing, and maritime industries, with many residents engaged in farming and seafood harvesting. A unique feature of Exmore is the Eastern Shore Railway Museum, which celebrates the town’s rich railroad heritage, alongside its scenic waterfronts that provide ample opportunities for boating, fishing, and outdoor recreation. Additionally, Exmore serves as a gateway to nearby natural attractions like the Chincoteague National Wildlife Refuge, making it a popular destination for tourists and nature enthusiasts.
Where is Exmore?
Exmore is a quaint town located in Northampton County on Virginia’s Eastern Shore, nestled between the Chesapeake Bay and Chincoteague Bay. Situated approximately 10 miles west of the Atlantic Ocean and about 90 miles east of Virginia Beach, it is accessible via U.S. Route 13, which traverses the Delmarva Peninsula. The local economy is primarily supported by agriculture, fishing, and maritime industries, with many residents involved in farming and seafood harvesting. A unique feature of Exmore is the Eastern Shore Railway Museum, which highlights the town’s rich railroad history, and its proximity to natural attractions like the Chincoteague National Wildlife Refuge makes it a popular destination for tourists and nature enthusiasts.
