Virginia Multifamily Market Report Q1 2026: Hampton Roads vs. Richmond — Where Should Investors Put Their Money?
Virginia Multifamily Market Report Q1 2026: Hampton Roads vs. Richmond — Where Should Investors Put Their Money?By Justin Ferguson | First Vice President of Investments, Marcus & Millichap Data Source: CoStar Group, licensed to Marcus & Millichap, March 7, 2026Most investors look at Virginia multifamily and see two markets. I see two different problems — and two completely different opportunities.Hampton Roads is performing. Richmond is recovering. Both will reward disciplined investors who understand what the data is actually saying. But the thesis, the timing, and the execution look nothing alike.Here's the full institutional-grade breakdown of both markets as of Q1 2026 — vacancy, rent, construction, sales comps, and the investment strategy that actually makes sense right now.