Virginia Beach, VA is an excellent place to live and invest in real estate. The median housing value is $370,800, which is much higher than the US median housing value of $338,100. This reflects the strong demand for property in Virginia Beach over the past year, with a 1 year appreciation rate of 11.30%, significantly higher than the national average of 8.27%. There are many reasons why this area is attractive to potential homebuyers or investors, ranging from its proximity to beaches and oceanfront living to its strong economy and low unemployment rate. All these factors contribute to making Virginia Beach a great place to live and buy a house.
The median home cost in Virginia Beach is $370,800. Home appreciation the last 10 years has been 58.5%. Home Appreciation in Virginia Beach is up 13.1%.
Average Age of Homes
- The median age of Virginia Beach real estate is 35 years old
The Rental Market in Virginia Beach
- Renters make up 33.0% of the Virginia Beach population
- 1.7% of houses and apartments in Virginia Beach, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.