Cost of Living in Virginia Beach, VA

With a cost of living index of 114, Virginia Beach, VA is somewhat more expensive than average. Living here is 14% more expensive than the national average and 10% above the Virginia state average of 104. As a major city with a population of 457,066, Virginia Beach offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Virginia Beach's cost of living. The median monthly rent is $1,649 (25% above the US median of $1,319), and the median home value sits at $366,300 (20% above the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Virginia Beach is $90,685, which is 21% higher than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Virginia Beach. The area sees an average annual temperature of 59.8°F, with summers averaging 77°F and winters around 43°F. Annual rainfall totals 46.6 inches spread over roughly 122 days.

Everyday prices in the Virginia Beach-Chesapeake-Norfolk, VA-NC (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.