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These days, finding an affordable place to live in the Virginia Beach area can be challenging. Home prices in Virginia Beach are now at a median cost of $350,138, lower than the Virginia average of $443,089.
The average cost of rent is $1,647/mo in Virginia Beach, primarily driven by the current value of real estate in the Virginia Beach area. In Virginia Beach, 36.57% of households rent, and 29.33% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Virginia Beach is $7,624 per month. Households that rent pay about 21.60% of their income on rent here. Virginia Beach’s most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Norfolk, VA: less expensive homes
- Chesapeake, VA: equally priced homes
- Portsmouth, VA: less expensive homes
- Suffolk, VA: equally priced homes
- Carrollton, VA: higher priced homes
- Longview, VA: equally priced homes
- Everets, VA: equally priced homes
- Smithfield, VA: higher priced homes
- Isle of Wight, VA: less expensive homes
- Orbit, VA: less expensive homes
Cities with Similar Populations
- Walton, IN: less expensive homes
- Waldorf, MD: higher priced homes
- Waverly, WI: less expensive homes
- Waverly Woods, IN: less expensive homes
- Wellpinit, WA: less expensive homes
- Washington, NH: equally priced homes
- Walden, TN: higher priced homes
- Waltham, MA: higher priced homes
- Wellington, MO: less expensive homes
- Washington, KS: less expensive homes
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