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How are Rental Markets Trending Across Virginia? – Virginia REALTORS®

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How are Rental Markets Trending Across Virginia? – Virginia REALTORS®


“Uncertain” has become the most common adjective used to describe the U.S. economic outlook and, consequently, consumer confidence levels have dropped. Moreover, housing market sentiment has also suffered, which has led to slower activity levels in the homebuying space in Virginia since the beginning of 2025. Potential homebuyers are hesitant to make a big purchase in light of broader economic fears. Many of them are choosing to continue renting as they wait for more stability and a more positive economic forecast. To understand the rental market landscape, let’s look at the predominant rental trends across the different metro areas in Virginia.

  1. All nine metro regions in Virginia have seen an increase in rent prices so far in 2025.

Housing costs have continued their upward trajectory. Rental market prices are no different. So far in 2025, according to CoStar, the effective rent per unit in Virginia was $1,820, which is 2.7% higher than the 2024 annual average rent of $1,772. All metro areas in the Commonwealth have seen rents go up. Charlottesville saw the highest percentage increase in rent (+4.7%), followed by Lynchburg (+3.0%) and Northern Virginia (+2.8%). Rental prices saw the smallest percentage increase in Blacksburg (+0.4%). This emphasizes the fact that while more people are choosing to rent and delay homebuying plans, their rental costs are going up.

  1. Most metro regions have seen a decline in concessions provided to renters.

Landlords tend to offer rent concessions as an incentive to attract or retain tenants. These concessions can be offered in the form of a temporary reduction in rent, and certain fee waivers, among others. Major rental markets in Virginia have seen a decline in effective rent concessions. Five out of the nine metro regions – Northern Virginia, Richmond, Hampton Roads, Lynchburg, and Charlottesville – have seen effective rent concessions go down so far in 2025 compared to last year. Renters aren’t being offered as many incentives to sign or extend their leases given the increased demand for rental units.

  1. Rental inventory has gone up in most metro areas in Virginia compared to 2024.

There was a significant increase in multifamily construction activity in 2021 and 2022. This has led to increased rental inventory in Virginia’s metro areas. Compared to 2024, seven out of the nine metro areas saw an increase in rental inventory levels, while rental inventory in Charlottesville and Winchester remained unchanged. This trend of rising inventory is expected to flatten out as multifamily construction activity slows down across the state.

For more information on housing, demographic and economic trends in Virginia, be sure to check out Virginia REALTORS® other Economic Insights blogs and our Data page.





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Virginia

Crews put out house fire in Bristol, Virginia

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Crews put out house fire in Bristol, Virginia


Crews put out a house fire in Bristol, Virginia, on Wednesday morning, according to officials.

The Bristol, Virginia Fire Department was dispatched at 3:09 a.m. for the fire in the 900 block of Vermont Avenue. The house was unoccupied at the time fire crews arrived on the scene.

Firefighters encountered heavy smoke and flames in the front of the house. They were able to quickly extinguish the fire under challenging conditions. The fire scene remains active and an investigation is underway. No injuries have been reported.



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Virginia Lottery Mega Millions, Pick 3 Night results for June 2, 2026

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Virginia Lottery Mega Millions, Pick 3 Night results for June 2, 2026


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The Virginia Lottery offers multiple draw games for those aiming to win big.

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Here’s a look at June 2, 2026, results for each game:

Mega Millions

Mega Millions drawings take place every week on Tuesday and Friday at 11 p.m.

15-26-43-48-60, Mega Ball: 12

Check Mega Millions payouts and previous drawings here.

Pick 3

DAY drawing at 1:59 p.m. NIGHT drawing at 11 p.m. each day.

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Night: 4-5-7, FB: 9

Day: 8-7-6, FB: 5

Check Pick 3 payouts and previous drawings here.

Pick 4

DAY drawing at 1:59 p.m. NIGHT drawing at 11 p.m. each day.

Night: 7-0-6-5, FB: 8

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Day: 1-1-9-0, FB: 1

Check Pick 4 payouts and previous drawings here.

Pick 5

DAY drawing at 1:59 p.m. NIGHT drawing at 11 p.m. each day.

Night: 2-9-1-0-4, FB: 0

Day: 5-9-4-1-7, FB: 0

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Check Pick 5 payouts and previous drawings here.

Cash Pop

Drawing times: Coffee Break 9 a.m.; Lunch Break 12 p.m.; Rush Hour 5 p.m.; Prime Time 9 p.m.; After Hours 11:59 p.m.

Coffee Break: 10

After Hours: 14

Prime Time: 04

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Rush Hour: 13

Lunch Break: 06

Check Cash Pop payouts and previous drawings here.

Millionaire for Life

Drawing everyday at 11:15 p.m.

16-33-41-50-52, Bonus: 01

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Check Millionaire for Life payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

This results page was generated automatically using information from TinBu and a template written and reviewed by a Center for Community Journalism (CCJ) editor. You can send feedback using this form.



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First boat to Bermuda wins — Virginia man prepares for 753-mile voyage from Annapolis – WTOP News

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First boat to Bermuda wins — Virginia man prepares for 753-mile voyage from Annapolis – WTOP News


Kevin Sherwood’s boat is one of 21 in this year’s Annapolis to Bermuda Oceans Race, or A2B, which dates back to 1979.

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DC-area man hopes to race from Annapolis to Bermuda by boat

The boat that Kevin Sherwood of Springfield, Virginia, bought is still in dry dock as he makes final repairs and preparations ahead of the whole reason he bought the “Bay Retriever” in the first place.

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If all goes as planned, he’ll get it in the water Wednesday, and starting at noon on Friday, he’ll be heading south down the Chesapeake Bay on a 753-mile voyage to Bermuda.

Sherwood’s boat is one of 21 in this year’s Annapolis to Bermuda Oceans Race, or A2B, which dates back to 1979. He’ll be joined by a crew of four others in a race he said is among the most challenging on the East Coast.

“I bought this boat in 2022 specifically for the Bermuda race,” Sherwood said. “Since I bought this, everything we’ve done has been prepping for it.

“Plenty of sailors never leave the Chesapeake. It’s very different when we’re dealing with ocean waves, ocean weather, all kinds of different conditions. So, the boat really needs to be set up for it.”

The bay, being both relatively shallow and surrounded by land, can make for ideal sailing; if something still goes wrong, help isn’t far away.

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Heading out in the blue waters of the Atlantic Ocean to an island more than 600 miles off the coast can present more difficult circumstances. Yet, if you go on the race’s website, you’ll see a long list of people hoping to get picked up by a boat to help take part.

“We’re out of rescue range for a portion of the trip. They’ll ask a passing freighter to come help you if you have a problem,” Sherwood said. “We are on our own out there.”

Some boats will have full galleys available to help cook meals for the crew. But Sherwood’s vessel, being smaller, has been stocking up on food and water from the grocery store.

He and the crew will take turns sailing and resting in the cabin down below. A “leak loss” — imagine a hammock, more or less — will catch anyone if the boat leans one way while they’re sleeping, lest they fall to the floor.

Of course, that assumes they’ll have strong winds and waves. Sherwood, who has done this race twice before, said that’s not always the case.

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“My first Bermuda race, we had plenty of nothing going on,” he said. For two days, the winds were so calm Sherwood’s team was “barely making two knots.”

Two years ago, he saw more clouds than stars and sun, and waves were running 12-15 feet high.

“The last couple of races we haven’t seen many sunsets because of clouds, fog, rain, that sort of thing,” Sherwood said. “But when you are out there all alone and just the stars, it’s incredibly detached. There’s really nowhere left in the country to get this isolated.”

Of course, having access to Starlink means there is some connection out on the water — though, if you’re on duty, you’re too focused to care. If you’re not, you’re probably resting.

“There’s definitely parts I’m going to hate,” he said. “There’s parts I’m going to be asking myself, ‘Why am I doing this? Why am I here?’ But it’s just such an awesome team sport. When I go off watch, I’m trusting the other guys to keep sailing, keep racing, to keep us safe, to keep the boat moving fast. We get to detach from the world.”

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Starting at noon on Friday, Kevin Sherwood will be sailing down the Chesapeake Bay on a 753-mile voyage to Bermuda.
(WTOP/John Domen)

WTOP/John Domen

a man in blue polo smiles at the camera from viewer's left of a sailboat.
Fairfax County resident Kevin Sherwood’s boat is one of 21 in this year’s Annapolis to Bermuda Oceans Race, or A2B.
(WTOP/John Domen)

WTOP/John Domen

a man in a blue polo stands beneath a large sailboat
a man in blue polo smiles at the camera from viewer's left of a sailboat.

For how long is anyone’s guess. Weather and winds will determine the time it takes to get there.

“If conditions are amazing, we’ll get in on Tuesday,” he said. “If conditions are great, Wednesday. If they’re average, Thursday, and if they’re terrible, Friday.”

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Those following from home can track Sherwood and everyone else in the race online. Whenever he arrives, he said workers on the docks will have a “Dark n’ Stormy” — one of Bermuda’s national drinks — waiting for them.

He’ll also be hoping to be handed a trophy he can sail back with, but that’s not the most important thing right now.

“There’s a point of pride just for completing this; 753 miles of ocean sailing is a big deal,” he said.

“So, yeah, I mean, I want to do well, but my first goal is just to make it back here safely in two and a half weeks. My next goal is to make it to Bermuda safely. Then my third goal is to finish well and get a podium finish again.”

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