Virginia Beach-Norfolk
Virginia · Ranked #41 of 102 metros
52Moderate
Median Home Price
🏠$320K
Need $92K income
Median Rent
🔑$1K
Need $56K income
Housing Shortage
📉25,000
units needed
Building Permits
🔨8,000
annual
Median Income
💰$67K
Pop: 1,799,674
Rent Burden
⚠️32.0%
of renters paying >30%
Price Change (YoY)
📈+4.2%
Homeownership
🏡60.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Virginia Beach-Norfolk | National |
|---|---|---|
| Price-to-Income Ratio | 4.8x | 6.1x |
| Rent Burden | 32.0% | 31.5% |
| Homeownership Rate | 60.0% | 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% |