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Virginia Beach city Housing Market

Virginia · 133 counties · Ranked #2842 in home value

Above National Avg

Housing at a Glance

Median Home Value

$366,300

vs national+$366,300 vs $281,900 national

Median Gross Rent

$1,649/mo

vs national+$1,649 vs $1,163 national

Effective Tax Rate

0.80%

vs national0.80% vs 1.02% national

Median Household Income

$90,685

vs national+$90,685 vs $74,755 national

Affordability Ratio

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

31.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$2,929

Tax as % of Home Value

0.80%

Monthly Owner Cost

$1,785

Renter Income

$61,645

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Frequently Asked Questions

What is the median home value in Virginia Beach city?

The median home value in Virginia Beach city is $366,300. This is above the national median of $281,900.

How much is rent in Virginia Beach city?

The median gross rent in Virginia Beach city is $1,649 per month.

What is the property tax rate in Virginia Beach city?

The effective property tax rate in Virginia Beach city is 0.80%. The median annual property tax bill is $2,929.

Is Virginia Beach city affordable?

With a home-value-to-income ratio of 4x, Virginia Beach city is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.