Starting at $1,340
Total Monthly Price
- 2 Beds
7698 Colonial Point Ln, Gloucester Point, VA 23062
COUPON! Rent is now $1295!Charming new home in quiet neighborhood. Close to beach, bridge, and shopping.
Colonial Point Apartments
(804) 979-2529
Frequently Asked Questions
How much does it cost to rent a home in Gloucester Point, VA?
The median rent for a home in Gloucester Point, VA is $1,295 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Gloucester Point, VA?
To comfortably afford the median rent in Gloucester Point, VA, a household needs to earn roughly $51,800 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,295 per month in Gloucester Point, VA, renters typically need to show $3,885 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Gloucester Point, VA?
In Gloucester Point, VA, the price-to-rent ratio is 23.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Gloucester Point, VA are best for renting a home?
The best neighborhood for renting in Gloucester Point, VA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include York Terrace, Booth, Lee Hall, Greenwood and Kingsmill, each with its own character and price range.
