Housing costs in Virginia Beach-Norfolk-Newport News?
A typical home costs
$316,500, which is 6.4% less expensive than the national average of
$338,100 and 7.8% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Virginia Beach-Norfolk-Newport News costs
$1,320 per month, which is 7.7% more than the national average of
$1,430 and 6.1% cheaper than the state average of
$1,400.
Can I afford Virginia Beach-Norfolk-Newport News?
To live comfortably in Virginia Beach-Norfolk-Newport News Virgi Metro Area, Virginia, a minimum annual income of
$60,480 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Virginia Beach-Norfolk-Newport News?
The cost of living in the Virginia Beach-Norfolk-Newport News, VA Metro Area is slightly lower than the US average. According to figures from the US Bureau of Economic Analysis, the area has a cost of living index of 99.1 compared to the national index of 100. This, combined with median house values that are more affordable than the US average, paints an attractive picture for those looking to move to this area. The median value for a house in this metropolitan area is $316,500, which is significantly less than the US average of $338,100.