Virginia Beach's January First-Time Homebuyer Report

With 437,994 residents, Virginia Beach is the most populated city in Virginia. Also, with a 3.9% increase over the last 10 years, its population is growing faster than other parts of the state. Its three largest zip codes are 23464, 23454, and 23452. Virginia Beach is an area where most people own their homes, with an ownership ratio of 60.6%. The top schools in the city are Old Donation Center, Kemps Landing Magnet, and Frank W. Cox High School.

Price Range

The median value of homes in Virginia Beach is $224,000, making it one of the most valuable areas in Virginia. At the same time, the average list price of available homes is presently $290,287. The homes with the highest value are in 23457, 23451, and 23456. The Virginia Beach market remained cool with 398 homes sold in the last 30 days, a 17.1% sales drop.

Wonder which homes are generating the most buzz? Here are the most viewed listings in Virginia Beach:

$575K   $145K   $165K  

Typical Dwelling

The typical dwelling in Virginia Beach is a four-bedroom detached home worth about $370,954. To purchase a similar home, a buyer with good credit and a $74,191 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,257 monthly payment. The property tax rate is $11.13 per $1,000 of taxable assessed value.

Get started right now by checking out Virginia Beach homes for sale or reviewing Virginia Beach real estate trends.

Data reported through 1/12/2017


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The Real Estate Group
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Nelene Gibbs Real Estate
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