6 Best Virginia Lakes to Buy Lakefront Property

While Virginia is known for its rolling hills, expansive valleys, and snow-capped mountains, there is no shortage of lakefront property in the state. Virginia’s lakes are a destination for water sports and some of the best fishing in the region. Many are less crowded than the towns along the Atlantic seaboard and the Chesapeake Bay while still providing beautiful waterfront views.

If you’re considering buying lakefront property in Virginia, here are six of the top lakes to explore.

Claytor Lake

Nestled among the foothills of the Blue Ridge Mountains is Claytor Lake, a long, winding reservoir along the ancient New River. The reservoir was formed after the Appalachian Power Company finished the construction of the Claytor Hydroelectric Dam. Claytor Lake covers just under 4,500 acres of Pulaski County on the state’s western edge.

Claytor Lake is perfect for those looking for rural lakefront living and outdoor recreation. Claytor Lake’s premier attraction is Claytor State Park, which attracts visitors from around the state, particularly the nearby city of Roanoke. Here, you’ll find opportunities for traditional outdoor adventures such as hiking, biking, swimming, boating, fishing, and more. The lake has a full-service marina where residents can rent or store their boats.

Nearby communities to explore include Radford, Draper, Pulaski, Hiwassee, and Dublin. In August 2022, there were 35 properties for sale on the shores of Claytor Lake, including 23 vacant residential lots, ranging in price from $73,500 to $499,000. The existing homes for sale ranged from a modest two-bed, two-bath cottage listed at $189,000 to an expansive four-bed, 3.5-bath new construction listed at $1.5 million.

Smith Mountain Lake

Covering over 20,000 acres of land and featuring around 500 miles of shoreline, Smith Mountain Lake has seen significant development since its formation following the construction of the Smith Mountain hydroelectric dam in 1963. As the second largest lake in the state, it spans three counties: Franklin, Pittsylvania, and Bedford.

Smith Mountain Lake is a top tourist destination for residents across the entire state of Virginia. It’s easy to see why: its location among the Blue Ridge Mountains ensures access to more trails for hiking and biking than you’ll ever be able to cover. Other popular attractions include four golf courses, six wineries, and 4 craft breweries, among many other dining destinations.

On the lake itself, opportunities for swimming, boating, and fishing abound. In fact, the lake is known for its abundance of striped bass. Numerous marinas and boat rentals are available along the various arms of the lake.

If you’re looking for properties on or around Smith Mountain Lake, consider the towns of Hardy, Glade Hill, Moneta, Union Hall, Wirtz, Huddleston, or Penhook. Many of these have waterfront homes along the branches and arms of the lake.

August 2022 had 325 waterfront properties for sale on Smith Mountain Lake, including vacant residential lots ranging from $8,500 to $7.7 million. Existing lakefront homes ranged from $265,000 for a studio apartment to $4,995,000 for a seven-bedroom, 7.5-bathroom home.

Leesville Lake

If you’re looking for a less commercialized, more rural lakefront living while retaining access to the nearby cities of Roanoke and Lynchburg, consider Leesville Lake. It is Smith Mountain’s sister lake, although it is much smaller, covering just 3,270 acres and featuring 110 miles of shoreline. The lake is part of a complex hydroelectric system that utilizes Leesville Lake for pumped water storage. It sits within Pittsylvania, Bedford, and Campbell counties along the Roanoke River.

Despite its smaller size and lower tourist volume, the lake doesn’t lack typical recreational activities such as hiking, biking, boating, waterskiing, wakeboarding, swimming, and fishing. It shares Smith Mountain Lake’s reputation for a high striped bass population. Amenities and facilities surrounding the lake are more limited compared to Smith Mountain. They include a small marina, fishing pier, and picnic facility.

If you’re interested in purchasing property in or around Leesville Lake, consider the towns of Pittsville, Gretna, or Lynch Station. There were 110 properties for sale here in August 2022, most undeveloped residential lots. These ranged in price from $11,999 to $949,900. Single-family homes in the area range from a small three-bedroom, one-bathroom cottage listed at $374,500 to a four-bedroom, 4.5-bathroom construction listed at $1.04 million.

John H. Kerr Reservoir

Directly on top of Virginia’s southern border and stretching into North Carolina is the John H. Kerr Reservoir. Fed by the Roanoke and Dan Rivers, this lake is valued by both Virginians and North Carolinians. It attracts visitors from around the region.

This massive lake covers a whopping 50,000 acres of land and 850 miles of shoreline, making it one of the largest reservoirs in the Southeastern US. The North Carolina Division of Parks and Recreation maintains seven naturalized areas around the reservoir, collectively known as the Kerr Lake State Recreation Area. You’ll find access to camping, hiking, biking, swimming, fishing, boating, and more here. The lake has several boat ramps, an amphitheater, community buildings and picnic shelters, and a visitor’s center. There are two privately-owned marinas for boat storage and rentals.

Nearby towns with homes for sale include Clarksville and Boydton. There were 203 waterfront properties listed on Kerr Lake in August 2022. Several vacant lots provide a chance to custom-build a lakefront home, ranging in price from $10,000 to $850,000. Existing homes ranged from $225,000 for a two-bedroom, one-bathroom cottage to a four-bedroom, five-bathroom new construction home listed at $2.95 million.

Lake Anna

This 13,000-acre reservoir in northeastern Virginia is about 17 miles long and situated within Louisa, Spotsylvania, and Orange counties. It was created upon completing the North Anna Dam in 1972 and quickly became a popular spot for recreation and leisure. Its central location between I-64 and I-95 makes it about an hour from Richmond and two hours from the DC metro.

Within the Lake Anna State Park are 15 miles of hiking, biking, and horseback riding trails. In addition, there are campsites, cabins, and yurts available to rent.

Like the rest of the lakes listed here, it is also a popular destination for swimming, water sports, and fishing. A unique feature is the Goodwin Gold Mine, which formed in the 1800s after gold was discovered nearby. Here, tour guides are happy to point out the remnants of mine shafts and industrial equipment, and children will have fun panning for gold at the visitors’ center.

Adults may be interested in visiting one of the several breweries or wineries in the area. Check out Wilderness Run Vineyards, Mattaponi Winery, 1781 Brewing Co, or Coyote Hole Ciderworks.

Interested in purchasing a home in the Lake Anna area? You have some options. Homes are available in towns such as Mineral, Spotsylvania, Louisa, Beaverdam, Bumpass, and Orange. There were 160 properties for sale in the area, including vacant lots ranging in price from $39,000 to $2.3 million. Homes ranged from a small three-bedroom, 1.5-bath cottage with a list price of $289,900 to a large four-bedroom, three-bath home listed at $3 million.

Lake Chesdin

Lake Chesdin is a small, rural reservoir in southeastern Virginia within Chesterfield, Dinwiddie, and Amelia Counties. It is one of the smaller lakes on this list, with a surface area of only 3,100 acres. The sparsely populated area around the lake contains an affluent community. Being 45 minutes from Richmond, it’s an easy getaway and weekend vacation spot for locals.

It is home to several private developments, two marinas, and the Lake Chesdin Golf Club.

Fishing is the main attraction of Lake Chesdin, as it contains a wide variety of species, including largemouth and striped bass, crappie, bluegill, walleye, channel catfish, gizzard shad, and white perch. Waterskiing, jetskiing, and boating are also popular on the lake. The lake is accessible through a public boat ramp and three privately run marinas.

The isolated nature of Lake Chesdin means few properties are for sale in and around Lake Chesdin. If you’re interested in living nearby, consider the towns of Chesterfield or Sutherland.

August 2022 had 12 waterfront properties listed near Lake Chesdin, and only five of them were on the lake proper. They ranged in price from $83,000 for a 2.17-acre lot within the gated Chesdin Landing community to an expansive six-bedroom, 3.5-bath mansion listed at $1,150,000.

Buying a Lake House in Virginia

As you can see, if you’re interested in finding a lakefront property in Virginia, there is no shortage of options! From thriving tourist destinations to rural fishing spots, there’s something for everyone here in Virginia.

We recommend contacting a local real estate agent to explore further options. They can help decide which lakefront property in Virginia is right for you.