Do Townhouses make Good Rentals in Northern Virginia?

[Jeremy B.]

Hello Folks. I am thinking of purchasing a Townhouse in West Springfield, VA (22152) and was wondering how rentable townhouses are? I would love to hear from people who have experience renting townhouses and can compare them to renting single family homes, especially those of you in Northern Virginia.

I will be living in this house for a few years with my family, and then will likely move away and rent the place out. I've lived most of my life in places where single family homes are the norm so I am new to the townhouse concept. I'm currently deciding between the townhouse in West Springfield and a more traditional single family home in Alexandria, VA (22306). They are both priced about the same, but HOA fees makes the Townhouse about $90 more expensive per month.

Based on my own research, I think the West Springfield Townhouse will bring about $2800 in rent per month, and the Alexandria House will bring $2700 in rent per month. In terms of long-term viability, I think the West Springfield Townhouse is a better investment because it's in the West Springfield school district. That seems to be an important factor for families looking to rent. The Alexandria schools are mediocre. Simply put, I think more people want to live in West Springfield than in Alexandria. 

But my concern is whether renters will want to live in a townhouse. I'd love to hear from some people who have townhouses as rentals. Thank you very much for your insight. 

[Chris Seveney]

Jeremy Burkhart
Townhouses make great rentals as there is a shortage of afffordable housing in the area and townhouses are typically lower than single families. I agree with Russell your rental rates appear high.

One thing to make sure you understand is there is alexandria (City) and alexandria (Fairfax county). There is a very big difference. Alexandria city is preferred and more expensive.

From a pricing perspective if you can get something inside the beltway versus outside that makes a big difference as well.