Virginia Beach-Norfolk
Virginia · Ranked #299 of 373 metros
52Moderate
💡
Housing in Virginia Beach-Norfolk costs 4.33× the median income, below the national average of 4.5×. The median home price is $344K and median rent is $1,465/month. Virginia Beach-Norfolk ranks #299 of 373 metros for affordability.
Median Home Price
🏠$344K
Need $92K income
Median Rent
🔑$1,465
Need $56K income
Housing Shortage
📉25,000
units needed
Building Permits
🔨8,000
annual
Median Income
💰$79K
Pop: 1,799,674
Rent Burden
⚠️32.0%
of renters paying >30%
Price Change (YoY)
📈+4.2%
Homeownership
🏡63.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Virginia Beach-Norfolk | National |
|---|---|---|
| Price-to-Income Ratio | 4.33x | 6.1x |
| Rent Burden | 32.0% | 31.5% |
| Homeownership Rate | 63.0% | 65.5% |
| YoY Price Change | +4.2% | +3.5% |
| YoY Rent Change | +3.5% | +2.8% |
| Mortgage Denial Rate | 14.5% | 13.5% |
| Eviction Rate | 5.8% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +59.5%Since 2000: +217.7%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,492/mo
1 Bedroom$1,512/mo
2 Bedroom$1,713/mo
3 Bedroom$2,376/mo
4 Bedroom$2,797/mo
Zillow Market Data
Home Value (ZHVI)
$363K
1yr: +1.8%5yr: +32.1%
Rent (ZORI)
$1,787/mo
1yr: +5.6%5yr: +39.8%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$324K
Active Inventory
793
Days on Market
51
Sold Above List
23.9%
Price Drops
19.6%