Virginia Beach, VA—23452
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 $371,000, with a year-over-year change of 2.1%. This indicates that home prices in Virginia Beach, VA are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $371,000 | 2.1% |
| Single Family | $375,000 | 1.9% |
| Condos | $189,000 | 3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $223,000 | 2.3% |
3 Bed | $338,000 | 2.1% |
4 Bed | $430,000 | 1.7% |
| 5 Bed | $794,000 | 3.5% |
% of Housing Stock
Rental Trends — Virginia Beach, VA
As of July '25, Rentcast reports the average rent in Virginia Beach, VA is $2,140, with a year-over-year rent change of 4.9%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is 1-bedrooms: $1,380, 2-bedrooms: $1,700, 3-bedrooms: $2,180, 4-bedrooms: $2,710. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 3-bedroom, accounting for 43.0% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,470 | $1,380 |
| 2 Bed Rent | $1,620 | $1,700 |
| 3 Bed Rent | $2,150 | $2,180 |
| 4 Bed Rent | $2,650 | $2,710 |
% 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 decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $400,000 | 5.0% |
Listing Count | 76 | 9.0% |
| Listings as % of Homes | 0.2% | 9.0% |
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 58,000, which has decreased by -2.2% over the past 5 years. Virginia Beach, VA is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 35.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 58,000 | -2.2% |
% Under 18 | 23.3% | 8.9% |
% Seniors | 15.9% | 15.2% |
% WFH | 11.6% | 251.5% |
% w/ College Degree | 35.2% | 16.6% |
As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 60.1% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 19.8% of the population. Foreign-born residents account for 7.9% of the population in Virginia Beach, VA, and this percentage has decreased by 3.7% 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 | 60.1% | -3.7% |
% Black | 19.8% | -1.0% |
% Hispanic | 9.2% | 5.7% |
% Asian | 5.1% | 24.4% |
% Foreign Born | 7.9% | -3.7% |
Mortgage and Risk — Virginia Beach, VA
According to HUD data as of 2023, there were 989 mortgage originations in Virginia Beach, VA, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 39.0% 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. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 989 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
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 5.2%. 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. 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 | 466 |
Total Units Section 8 | 462 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 96.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,470 | $1,710 |
| 2 Bedroom | $340 | $1,620 | $1,960 |
| 3 Bedroom | $580 | $2,150 | $2,730 |
| 4 Bedroom | $600 | $2,650 | $3,250 |
Affordability — Virginia Beach, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $371,000 |
| Median Household Income | $77,300 |