Virginia Beach, VA—23453
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 $360,000, with a year-over-year change of 0.5%. This indicates that home prices in Virginia Beach, VA are flat. 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 | $360,000 | 0.5% |
| Single Family | $368,000 | 0.5% |
| Condos | $210,000 | 1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $180,000 | 4.0% |
2 Bed | $230,000 | 0.9% |
3 Bed | $333,000 | 0.3% |
4 Bed | $463,000 | 0.4% |
| 5 Bed | $671,000 | 0.4% |
% 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 -0.9%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is 1-bedrooms: $1,400, 2-bedrooms: $1,710, 3-bedrooms: $2,140, 4-bedrooms: $2,790. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 3-bedroom, accounting for 37.3% and 34.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,370 | $1,400 |
| 2 Bed Rent | $1,650 | $1,710 |
| 3 Bed Rent | $1,950 | $2,140 |
| 4 Bed Rent | $2,480 | $2,790 |
% 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 25. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $351,000 | 6.0% |
Listing Count | 47 | -7.0% |
| Listings as % of Homes | 0.2% | -7.0% |
Days on Market | 25 | 1.0% |
Demographics — Virginia Beach, VA
As of the latest ACS Survey released in 2023, Virginia Beach, VA has a population of 34,500, which has decreased by -4.4% over the past 5 years. Virginia Beach, VA is a moderately popular place for families, as children make up 24.8% of the population. The area has a moderately educated workforce, with 33.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,500 | -4.4% |
% Under 18 | 24.8% | -5.0% |
% Seniors | 11.2% | 19.1% |
% WFH | 10.0% | 316.7% |
% w/ College Degree | 33.2% | 16.1% |
As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 46.3% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 22.0% of the population. Foreign-born residents account for 11.3% of the population in Virginia Beach, VA, and this percentage has decreased by 20.4% 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 | 46.3% | -0.4% |
% Black | 22.0% | -12.7% |
% Hispanic | 10.1% | -12.2% |
% Asian | 11.7% | -3.3% |
% Foreign Born | 11.3% | -20.4% |
Mortgage and Risk — Virginia Beach, VA
According to HUD data as of 2023, there were 401 mortgage originations in Virginia Beach, VA, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Virginia Beach, VA. Investor activity is low, as 3.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 401 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
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 11.1%. 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 | 433 |
Total Units Section 8 | 426 |
% Rentals under Section 8 | 11.1% |
% Occupied Section 8 | 97.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $1,370 | $1,710 |
| 2 Bedroom | $300 | $1,650 | $1,950 |
| 3 Bedroom | $760 | $1,950 | $2,710 |
| 4 Bedroom | $750 | $2,480 | $3,230 |
Affordability — Virginia Beach, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $360,000 |
| Median Household Income | $90,700 |