The Virginia Beach-Norfolk-Newport News, VA Metro Area is a bustling and vibrant place to live. It offers a great balance of urban excitement and beach living. Rent for a two bedroom is quite reasonable at $1,320 compared to the US average of $1,430. The Grocery Cost Index for this area is 99, which is slightly below the national average of 100.
This region is home to numerous local companies that offer everything from banking and financial services to entertainment and retail outlets. Bank of America, SunTrust Bank, Old Point National Bank, and BB&T are some of the larger banks in the area offering checking accounts, saving accounts, ATMs, loans and more. Shopping centers like Lynnhaven Mall or MacArthur Center provide great shopping experiences with stores such as Apple, Macy's, JCPenney and more. Popular entertainment venues like Sandler Center for Performing Arts or military bases like Naval Station Norfolk can provide hours of fun for families. There are also many unique local eateries that serve up delicious dishes ranging from seafood to barbecue that can't be found anywhere else!
Virginia Beach-Norfolk-Newport News Metro Area has an unemployment rate of 5.8%. The US average is 6.0%.
Virginia Beach-Norfolk-Newport News Metro Area has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 32.9%, which is lower than the US average of 33.5%.
Tax Rates for Virginia Beach-Norfolk-Newport News Metro Area
- The Sales Tax Rate for Virginia Beach-Norfolk-Newport News Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Virginia Beach-Norfolk-Newport News Metro Area is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Virginia Beach-Norfolk-Newport News Metro Area
- The average income of a Virginia Beach-Norfolk-Newport News Metro Area resident is $29,098 a year. The US average is $28,555 a year.
- The Median household income of a Virginia Beach-Norfolk-Newport News Metro Area resident is $71,612 a year. The US average is $69,021 a year.