Virginia Beach, VA—23464
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 $396,000, with a year-over-year change of 1.9%. This indicates that home prices in Virginia Beach, VA are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $396,000 | 2.0% |
| Single Family | $401,000 | 2.0% |
| Condos | $243,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $243,000 | 2.5% |
3 Bed | $359,000 | 2.0% |
4 Bed | $445,000 | 1.8% |
| 5 Bed | $541,000 | 2.1% |
% of Housing Stock
Rental Trends — Virginia Beach, VA
As of July '25, Rentcast reports the average rent in Virginia Beach, VA is $2,220, with a year-over-year rent change of -0.4%. Per bedroom, the median rent as of July '25 in Virginia Beach, VA is studios: $1,400, 1-bedrooms: $1,510, 2-bedrooms: $1,740, 3-bedrooms: $2,210, 4-bedrooms: $2,830. The most common rental property sizes in Virginia Beach, VA are 2-bedroom and 3-bedroom, accounting for 44.9% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,150 | $2,220 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $1,580 | $1,510 |
| 2 Bed Rent | $1,750 | $1,740 |
| 3 Bed Rent | $2,200 | $2,210 |
| 4 Bed Rent | $2,800 | $2,830 |
% 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 4.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $416,000 | 4.0% |
Listing Count | 95 | 1.0% |
| Listings as % of Homes | 0.2% | 1.0% |
Days on Market | 25 | 4.0% |
Demographics — Virginia Beach, VA
As of the latest ACS Survey released in 2023, Virginia Beach, VA has a population of 75,300, which has decreased by -1.6% over the past 5 years. Virginia Beach, VA is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 38.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 75,300 | -1.6% |
% Under 18 | 22.0% | -6.0% |
% Seniors | 15.4% | 14.9% |
% WFH | 14.3% | 393.1% |
% w/ College Degree | 38.2% | 12.4% |
As of the latest ACS Survey released in 2023, Virginia Beach, VA is a predominantly white area, with 50.2% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Virginia Beach, VA is black, making up 23.9% of the population. Foreign-born residents account for 11.1% of the population in Virginia Beach, VA, and this percentage has decreased by 2.6% 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 | 50.2% | -5.3% |
% Black | 23.9% | 0.8% |
% Hispanic | 9.3% | 19.2% |
% Asian | 10.9% | -0.9% |
% Foreign Born | 11.1% | -2.6% |
Mortgage and Risk — Virginia Beach, VA
According to HUD data as of 2023, there were 1045 mortgage originations in Virginia Beach, VA, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 36.0% 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. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,045 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% 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 5.9%. 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 | 557 |
Total Units Section 8 | 557 |
% Rentals under Section 8 | 5.9% |
% Occupied Section 8 | 96.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,580 | $1,670 |
| 2 Bedroom | $160 | $1,750 | $1,910 |
| 3 Bedroom | $460 | $2,200 | $2,660 |
| 4 Bedroom | $360 | $2,800 | $3,160 |
Affordability — Virginia Beach, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $396,000 |
| Median Household Income | $89,800 |