Virginia Beach, VA 23462 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Virginia Beach, VA—23462

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$315,000

2.2% YoY Growth

Household Income

$69,700

8.0% YoY Growth

Days on Market

36

19.0% Longer YoY

Home Price Forecast

2.0%

Median Rent

$1,900

0.5% YoY Growth

1-Bed Rent

$1,550

21.9% YoY Growth

2-Bed Rent

$1,850

4.7% YoY Growth

3-Bed Rent

$2,100

2.4% YoY Growth

Other Zip Codes in Virginia Beach, VA

23451 23454 23456 23452 23455 23453 23464 23457

Home Price Trends — Virginia Beach, VA

As of Nov '25, the median home price in Virginia Beach, VA is $315,000, 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 2.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$315,000	2.2%
Single Family	$318,000	2.3%
Condos	$288,000	2.9%

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 $1,940, with a year-over-year rent change of -0.5%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is studios: $1,760, 1-bedrooms: $1,560, 2-bedrooms: $1,770, 3-bedrooms: $2,130, 4-bedrooms: $2,420. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 3-bedroom, accounting for 43.0% and 29.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,900	$1,940
Studio Rent	$1,590	$1,760
1 Bed Rent	$1,550	$1,560
2 Bed Rent	$1,850	$1,770
3 Bed Rent	$2,100	$2,130
4 Bed Rent	$2,520	$2,420

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% of Rental Stock

Studio

2.9%

1 Bedroom

19.3%

2 Bedrooms

43.0%

3 Bedrooms

29.3%

4 Bedrooms

4.1%

5+ Bedrooms

1.4%

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 36. This is a increase of 19.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$318,000	-4.0%
Listing Count	111	15.0%
Listings as % of Homes	0.2%	15.0%
Days on Market	36	19.0%

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Demographics — Virginia Beach, VA

As of the latest ACS Survey released in 2023, Virginia Beach, VA has a population of 67,100, which has increased by 5.4% 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 30.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	67,100	5.4%
% Under 18	23.3%	4.5%
% Seniors	12.9%	6.6%
% WFH	9.6%	220.0%
% w/ College Degree	30.8%	23.2%

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As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 45.2% of the population identifying as white. The white population has shrunk by 9.1% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 32.9% of the population. Foreign-born residents account for 8.6% of the population in Virginia Beach, VA, and this percentage has decreased by 15.7% 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	45.2%	-9.1%
% Black	32.9%	11.1%
% Hispanic	12.0%	23.7%
% Asian	5.4%	-25.0%
% Foreign Born	8.6%	-15.7%

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Mortgage and Risk — Virginia Beach, VA

According to HUD data as of 2023, there were 1341 mortgage originations in Virginia Beach, VA, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Virginia Beach, VA. Investor activity is low, as 4.0% 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	1,341
% Conventional Loans	54.0%
% Government Loans	46.0%
% Investor Loans	4.0%
% Second Loans	1.0%
% Cash Out Refinance	13.0%

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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 7.7%. 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	987
Total Units Section 8	965
% Rentals under Section 8	7.7%
% Occupied Section 8	96.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$160	$1,550	$1,710
2 Bedroom	$110	$1,850	$1,960
3 Bedroom	$630	$2,100	$2,730
4 Bedroom	$730	$2,520	$3,250