Feb. 10, 2020 — Hampton remains one of the most affordable beach towns in America, according to a recent study by the financial technology company SmartAsset.
Considering median home value, property taxes and housing cost, the city was ranked no. 17 out of the top 50 beach towns in the country.
Gulfport, Miss., topped the list. Hampton was the only Virginia city to make the Smart Asset’s top 50. Two Maryland areas — Middle River and Ocean Pines — 22nd and 48th respectively — were included. The next closest city is Myrtle Beach, S.C., at 12th.
“This is the fourth year Hampton has made this list,” said Mayor Donnie Tuck. “Our ranking reflects the beauty of Hampton. We are not just an affordable city. We are a great place to live, to work, and to play.”
Last month, Hampton assessor Gary James, in a report to City Council, noted that home values were rising in Hampton. The majority of Hampton homeowners — 89% — saw growth in home value.
Is it the right time to buy a house in Hampton? Earlier this month, realtor.com reported that “after years of skyrocketing home prices, the combination of rising rents, lower rates and moderating home prices are making purchasing a home more attractive in many of the nation’s largest metro areas. Hampton was in the top 10 cities where buying a home is more affordable than renting.