Of Williamsburg's population, nearly 25% is comprised of people age 45 or better, and the town has a good mix of these older residents, families, students (The College of William and Mary is here) and tourists.   The cost of living is high, roughly 40% above the national average; the median single family home price is $415,000, but living in Williamsburg gives residents easy access to the beach (Virginia Beach is an hour east), the mountains (three hours to skiing) and the cultural amenities in Washington, D.C. (two hours north).   Homes come in all shapes and sizes, but just as in most markets, the real estate game in Williamsburg has slowed.  While the average house here has four bedrooms, 2,500 square feet and sells in the low-$400,000s, this size of residence is larger than what many retirees want or need.

Smaller condos and town homes (1,000 sq. ft.) are available for less than $200,000, as are some single-family homes, although inventory starts to open up in the mid-$200,000s.  Welcoming homes with two to three bedrooms, between 1,500 sq. ft and 2,500 sq. ft. and located on leafy streets in well-kept neighborhoods are for sale from $250,000 to $350,000.  Stately historic homes and homes built to look as though they date from the 1600s and 1700s (gorgeous brick Georgians, Colonials, etc.) can be found in the $500,000 and up range.

Williamsburg is also home to a number of higher-end planned developments.  Colonial Heritage is an elegant active adult community with town homes, carriage homes and single family homes priced from $260,000 to $460,000.  Governor's Land at Two Rivers is a private golf community with homes from $600,000 to $3 million.  Kings Mill is a resort development on the James River and has homes starting at $950,000.  The most well known of all of Williamsburg's planned communities is probably Ford's Colony, often noted as the best planned development in the U.S., with three 18-hole golf courses (which have won Golf Digest's highest award) and homes priced from $275,000 to $1.5 million and higher.

This is an interactive map.  Click on the arrows in the upper left hand corner to move the map to the East, West, North or South, and click on the +/- signs to zoom in and out.

Real estate is assessed at 100% of fair market value, and the tax rate in the city of Williamsburg is $0.54 per $100.  In the county of James City, it is $0.825 per $100.  The annual tax on a $300,000 home in the city would be $1,620 and in the county it would be $2,475.   The sales tax is 5%.   On retirement income, taxpayers age 65 and older are eligible for a deduction of $12,000, which may be reduced when annual income exceeds $50,000 (single) or $75,000 (married).  Social Security is exempt from state taxation.

Williamsburg, Virginia, Continued...