Virginia Beach, VA—23454
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Virginia Beach, VA
As of Oct '25, the median home price in Virginia Beach, VA is $445,000, with a year-over-year change of 1.5%. This indicates that home prices in Virginia Beach, VA are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $445,000 | 1.5% |
| Single Family | $471,000 | 1.3% |
| Condos | $263,000 | 2.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $167,000 | 7.1% |
2 Bed | $258,000 | 0.8% |
3 Bed | $402,000 | 1.5% |
4 Bed | $578,000 | 1.6% |
| 5 Bed | $1,012,000 | 3.3% |
% of Housing Stock
Rental Trends — Virginia Beach, VA
As of July '25, Rentcast reports the average rent in Virginia Beach, VA is $2,240, with a year-over-year rent change of -1.3%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is 1-bedrooms: $1,270, 2-bedrooms: $1,710, 3-bedrooms: $2,430, 4-bedrooms: $2,930. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 3-bedroom, accounting for 43.6% and 31.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,240 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,310 | $1,270 |
| 2 Bed Rent | $1,750 | $1,710 |
| 3 Bed Rent | $2,500 | $2,430 |
| 4 Bed Rent | $2,800 | $2,930 |
% of Rental Stock
Property Listings — Virginia Beach, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Virginia Beach, VA is 30. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $461,000 | 11.0% |
Listing Count | 93 | -3.0% |
| Listings as % of Homes | 0.2% | -3.0% |
Days on Market | 30 | 7.0% |
Demographics — Virginia Beach, VA
As of the latest ACS Survey released in 2023, Virginia Beach, VA has a population of 57,800, which has decreased by -3.2% over the past 5 years. Virginia Beach, VA is a moderately popular place for families, as children make up 21.7% of the population. The area has a moderately educated workforce, with 43.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 57,800 | -3.2% |
% Under 18 | 21.7% | -4.0% |
% Seniors | 16.0% | 26.0% |
% WFH | 12.5% | 303.2% |
% w/ College Degree | 43.3% | 17.3% |
As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 69.4% of the population identifying as white. The white population has shrunk by 3.9% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 13.2% of the population. Foreign-born residents account for 7.4% of the population in Virginia Beach, VA, and this percentage has increased by 13.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.4% | -3.9% |
% Black | 13.2% | -0.8% |
% Hispanic | 6.9% | 7.8% |
% Asian | 4.9% | 28.9% |
% Foreign Born | 7.4% | 13.8% |
Mortgage and Risk — Virginia Beach, VA
According to HUD data as of 2023, there were 683 mortgage originations in Virginia Beach, VA, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Virginia Beach, VA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 683 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Virginia Beach, VA
As of 2024, the percent of homes in Virginia Beach, VA under the Section 8 program is 4.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Virginia Beach, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 465 |
Total Units Section 8 | 333 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 96.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $350 | $1,310 | $1,660 |
| 2 Bedroom | $150 | $1,750 | $1,900 |
| 3 Bedroom | $140 | $2,500 | $2,640 |
| 4 Bedroom | $350 | $2,800 | $3,150 |
Affordability — Virginia Beach, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $445,000 |
| Median Household Income | $97,800 |