Quick facts: Virginia beach, VA

Quick Facts

106
Cost of Living
above US average
455,618
Population
5.06
Crime Rate per 1000
below US average
$87,544
Median Income
above US average
$375,000
Median House Price
above US average
$2192.5
Average Rent
above US average
10%
Poverty Rate
below US average
2.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $87,544.

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Income Needed to Buy

βœ— Stretch
$118k/year
Based on $375,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $118k vs median $87,544
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Income Needed to Rent

⚠ Stretch
$94k/year
Based on $2192.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $94k vs median $87,544
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Virginia beach, VA

Virginia Beach, located in southeastern Virginia, is a vibrant coastal city known for its beautiful sandy beaches, family-friendly atmosphere, and outdoor recreational activities. The city boasts over 28 miles of shoreline along the Atlantic Ocean and is a popular destination for tourists year-round. The iconic Virginia Beach Boardwalk stretches three miles along the oceanfront, lined with shops, restaurants, and entertainment options. The city is home to several attractions, including the Virginia Aquarium & Marine Science Center, which offers interactive exhibits and boat tours, and the historic First Landing State Park, where visitors can explore nature trails and waterways. Virginia Beach also hosts a variety of annual events, such as the Virginia Beach Neptune Festival and the East Coast Surfing Championships, drawing crowds and surf enthusiasts alike. With a diverse dining scene ranging from fresh seafood to international cuisine, plus a range of accommodations from hotels to beachfront rentals, Virginia Beach caters to all visitors. Its mild climate makes it an ideal location for outdoor activities like fishing, hiking, and water sports, ensuring there's something for everyone to enjoy in this lively coastal city.

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