Virginia Beach, VA 23456 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Virginia Beach, VA—23456

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$538,000

2.2% YoY Growth

Household Income

$128,000

23.1% YoY Growth

Days on Market

43

6.0% Longer YoY

Home Price Forecast

1.9%

Median Rent

$2,700

9.6% YoY Growth

1-Bed Rent

$1,450

17.6% YoY Growth

2-Bed Rent

$2,100

6.1% YoY Growth

3-Bed Rent

$2,500

8.6% YoY Growth

Other Zip Codes in Virginia Beach, VA

23451 23454 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 $538,000, with a year-over-year change of 2.2%. This indicates that home prices in Virginia Beach, VA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$538,000	2.2%
Single Family	$562,000	2.2%
Condos	$376,000	3.6%

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 $2,850, with a year-over-year rent change of 9.6%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is studios: $600, 1-bedrooms: $1,470, 2-bedrooms: $2,090, 3-bedrooms: $2,640, 4-bedrooms: $3,180. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 3-bedroom, accounting for 36.1% and 35.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,700	$2,850
Studio Rent	$600	$600
1 Bed Rent	$1,450	$1,470
2 Bed Rent	$2,100	$2,090
3 Bed Rent	$2,500	$2,640
4 Bed Rent	$3,200	$3,180

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% of Rental Stock

1 Bedroom

3.6%

2 Bedrooms

36.1%

3 Bedrooms

35.0%

4 Bedrooms

22.4%

5+ Bedrooms

2.8%

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 43. This is a increase of 6.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$612,000	16.0%
Listing Count	146	-1.0%
Listings as % of Homes	0.5%	-1.0%
Days on Market	43	6.0%

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Demographics — Virginia Beach, VA

As of the latest ACS Survey released in 2023, Virginia Beach, VA has a population of 60,700, which has increased by 12.0% over the past 5 years. Virginia Beach, VA is a moderately popular place for families, as children make up 24.5% of the population. The area has a highly educated workforce, with 45.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	60,700	12.0%
% Under 18	24.5%	-3.2%
% Seniors	15.1%	25.8%
% WFH	15.7%	157.4%
% w/ College Degree	45.7%	11.5%

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As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 60.4% of the population identifying as white. The white population has shrunk by 8.9% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 13.3% of the population. Foreign-born residents account for 12.3% of the population in Virginia Beach, VA, and this percentage has increased by 33.7% 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	60.4%	-8.9%
% Black	13.3%	-8.3%
% Hispanic	8.6%	48.3%
% Asian	12.0%	46.3%
% Foreign Born	12.3%	33.7%

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Mortgage and Risk — Virginia Beach, VA

According to HUD data as of 2023, there were 782 mortgage originations in Virginia Beach, VA, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 34.0% 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. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	782
% Conventional Loans	62.0%
% Government Loans	38.0%
% Investor Loans	2.0%
% Second Loans	3.0%
% Cash Out Refinance	14.0%

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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 0.4%. 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	8
Total Units Section 8	8
% Rentals under Section 8	0.4%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$690	$1,450	$2,140
2 Bedroom	$350	$2,100	$2,450
3 Bedroom	$910	$2,500	$3,410
4 Bedroom	$860	$3,200	$4,060