Virginia Beach, VA 23451 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Virginia Beach, VA—23451

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$633,000

4.2% YoY Growth

Household Income

$97,900

37.7% YoY Growth

Days on Market

53

11.0% Longer YoY

Home Price Forecast

2.1%

Median Rent

$2,250

3.6% YoY Growth

1-Bed Rent

$1,600

36.8% YoY Growth

2-Bed Rent

$1,900

8.4% YoY Growth

3-Bed Rent

$2,800

5.7% YoY Growth

Other Zip Codes in Virginia Beach, VA

23454 23456 23452 23455 23453 23464 23457 23462

Home Price Trends — Virginia Beach, VA

As of Nov '25, the median home price in Virginia Beach, VA is $633,000, with a year-over-year change of 4.2%. This indicates that home prices in Virginia Beach, VA are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$633,000	4.2%
Single Family	$730,000	4.1%
Condos	$495,000	4.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Virginia Beach, VA

As of July '25, Rentcast reports the average rent in Virginia Beach, VA is $2,410, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is studios: $1,300, 1-bedrooms: $1,710, 2-bedrooms: $2,080, 3-bedrooms: $2,830, 4-bedrooms: $3,410. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 1-bedroom, accounting for 45.7% and 26.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,250	$2,410
Studio Rent	$1,300	$1,300
1 Bed Rent	$1,600	$1,710
2 Bed Rent	$1,900	$2,080
3 Bed Rent	$2,800	$2,830
4 Bed Rent	$3,000	$3,410

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% of Rental Stock

Studio

3.3%

1 Bedroom

26.6%

2 Bedrooms

45.7%

3 Bedrooms

20.3%

4 Bedrooms

4.1%

Property Listings — Virginia Beach, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Virginia Beach, VA is 53. This is a increase of 11.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$692,000	2.0%
Listing Count	160	3.0%
Listings as % of Homes	0.3%	3.0%
Days on Market	53	11.0%

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Demographics — Virginia Beach, VA

As of the latest ACS Survey released in 2023, Virginia Beach, VA has a population of 44,600, which has increased by 4.4% over the past 5 years. Virginia Beach, VA is a moderately popular place for families, as children make up 16.5% of the population. The area has a highly educated workforce, with 57.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	44,600	4.4%
% Under 18	16.5%	-17.1%
% Seniors	20.6%	10.8%
% WFH	15.1%	184.9%
% w/ College Degree	57.0%	15.4%

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As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 78.1% of the population identifying as white. The white population has grown by 1.0% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 7.7% of the population. Foreign-born residents account for 6.0% of the population in Virginia Beach, VA, and this percentage has decreased by 13.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	78.1%	1.0%
% Black	7.7%	-27.4%
% Hispanic	7.1%	9.2%
% Asian	3.0%	42.9%
% Foreign Born	6.0%	-13.0%

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Mortgage and Risk — Virginia Beach, VA

According to HUD data as of 2023, there were 710 mortgage originations in Virginia Beach, VA, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Virginia Beach, VA. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	710
% Conventional Loans	85.0%
% Government Loans	15.0%
% Investor Loans	3.0%
% Second Loans	7.0%
% Cash Out Refinance	7.0%

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Rentals and Section 8 — Virginia Beach, VA

As of 2024, the percent of homes in Virginia Beach, VA under the Section 8 program is 4.2%. 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. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Virginia Beach, VA, because HUD payments exceed market rent, while 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	418
Total Units Section 8	418
% Rentals under Section 8	4.2%
% Occupied Section 8	93.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$110	$1,600	$1,710
2 Bedroom	$60	$1,900	$1,960
3 Bedroom	-$70	$2,800	$2,730
4 Bedroom	$250	$3,000	$3,250