In short: It depends on your numbers and plans. Renting can make sense if the rent covers your mortgage, taxes, insurance, and upkeep with room to spare, you have a low interest rate, and you may return to Hampton Roads. Selling often makes more sense if the rent won't cover your costs, you need your equity or VA entitlement for your next home, or you don't want to be a long-distance landlord. Service members can also get extra time to qualify for the capital gains tax exclusion.
For military homeowners in Hampton Roads, PCS orders bring a big decision: sell the house, or keep it and rent it out? Here's a simple way to work through it.
Step 1: Run the rental numbers honestly
Start with realistic rent. In September 2026, median rents ranged from about $1,665 in Portsmouth and $1,676 in Norfolk to $2,359 in Virginia Beach. Then subtract:
- Mortgage principal and interest
- Property taxes and homeowners insurance (landlord policies usually cost more)
- Flood insurance, if needed
- Property management, often a percentage of monthly rent, plus a leasing fee
- Maintenance and repairs (budget something every month)
- Vacancy between tenants
- HOA dues, if any
If what's left is close to zero or negative, you're paying to own a rental from a distance.
Step 2: Think about your VA entitlement
If you keep a home with a VA loan, part of your entitlement stays tied to it. You may still have enough remaining entitlement to buy at your next duty station, but in higher-priced areas it can limit you. Talk to your lender before deciding.
Step 3: Know the tax rules
Normally, you can exclude up to $250,000 of profit ($500,000 if married filing jointly) when you sell your main home, if you lived there at least two of the last five years. Service members on qualified official extended duty can suspend the five-year test for up to 10 years, which gives you more time to sell after renting it out and still qualify. Talk to a tax professional about your situation.
When renting usually makes sense
- Rent comfortably covers all costs
- You have a low interest rate you'd hate to give up
- You expect to come back to Hampton Roads
- You have reserves for repairs and vacancies
When selling usually makes sense
- Rent won't cover your costs
- You need your equity for your next home
- You need your full VA entitlement back
- You don't want the stress of managing a property from far away
A middle option: sell with your assumable loan
If you have a low-rate VA loan, it can be a strong selling point. A qualified buyer may be able to assume it. See how assumable VA loans help sellers.
Let us run both scenarios
We'll prepare a free equity check showing your net if you sell, alongside a rent estimate for your home. Visit our military page or contact us.
Sources: Doorstead: Hampton Roads rental market report (Sept. 2026); IRS Publication 523: Selling your home; VA.gov: Funding fee and closing costs. Figures are for general information and can change; contact us for advice on your specific situation.
Frequently asked questions
Rent it out if the rent covers your mortgage, taxes, insurance, management, repairs, and vacancy with room to spare, and you're comfortable being a long-distance landlord. Otherwise, selling is often the simpler and safer choice.
Not necessarily. Service members on qualified official extended duty can suspend the five-year ownership-and-use test for up to 10 years, which can preserve the $250,000/$500,000 exclusion. Confirm your situation with a tax professional.
Often yes, if you have remaining entitlement, but keeping a VA-financed home ties up part of your entitlement and can limit your loan amount without a down payment. Check with a VA lender.
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