Housing in Virginia Beach-Norfolk-Newport News Metro Area, Virginia

The median home cost in Virginia Beach-Norfolk-Newport News Metro Area is $235,340. Home appreciation the last 10 years has been -0.7%. Home Appreciation in Virginia Beach-Norfolk-Newport News Metro Area is up 3.6%. Browse Virginia Beach-Norfolk-Newport News Metro Area Real Estate

Average Age of Homes

- The median age of Virginia Beach-Norfolk-Newport News Metro Area real estate is 33 years old

The Rental Market in Virginia Beach-Norfolk-Newport News Metro Area

- Renters make up 34.0% of the Virginia Beach-Norfolk-Newport News Metro Area population
- 2.9% of houses and apartments in Virginia Beach-Norfolk-Newport News Metro Area, are available to rent

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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.

HOUSING	Virginia Beach-Norfolk-Newport News, Virginia	United States
Median Home Age	36	40
Median Home Cost	$235,340	$231,200
Home Appr. Last 12 months	3.6%	6.7%
Home Appr. Last 5 yrs.	14.6%	35.6%
Home Appr. Last 10 yrs.	-0.7%	27.4%
Property Tax Rate	$9.15	$11.78
Property Taxes Paid	$2,153	$2,724
Homes Owned	55.3%	56.0%
Housing Vacant	10.2%	12.2%
Homes Rented	34.6%	31.8%
AVERAGE RENT FOR HOME OR APARTMENT
Average Rent	$1,402	$1,470
Studio Apartment	$919	$821
1 Bedroom Home or Apartment	$925	$930
2 Bedroom Home or Apartment	$1,104	$1,148
3 Bedroom Home or Apartment	$1,553	$1,537
4 Bedroom Home or Apartment	$1,938	$1,791
VACANT HOUSING
Vacant For Rent	2.9%	2.1%
Vacant Rented	0.6%	0.5%
Vacant For Sale	1.1%	1.0%
Vacant Sold	0.3%	0.5%
Vacant Vacation	1.9%	4.0%
Vacant Other	3.3%	4.2%
VALUE OF OWNER-OCCUPIED HOUSING
Less Than $20,000	3.0%	3.5%
$20,000 to $39,999	1.0%	3.1%
$40,000 to $59,999	0.6%	3.9%
$60,000 to $79,999	1.2%	5.4%
$80,000 to $99,999	2.3%	6.3%
$100,000 to $149,999	10.8%	14.7%
$150,000 to $199,999	18.3%	14.6%
$200,000 to $299,999	31.2%	18.7%
$300,000 to $399,999	16.5%	11.0%
$400,000 to $499,999	6.8%	6.2%
$500,000 to $749,999	5.7%	7.0%
$750,000 to $999,999	1.5%	2.7%
$1,000,000 to $1,499,999	0.7%	1.5%
$1,500,000 to $1,999,999	0.2%	0.5%
$2,000,000 and over	0.3%	0.7%