Average Home Price in Virginia Beach VA (2026): Trends & Data
$467,647. That’s what a typical home costs in Virginia Beach right now. Prices are up 3.2% from a year ago, and the city has posted gains every single month over the past year. Slow, steady, and consistent — that’s the story here.
Quick answer: The average home price in Virginia Beach, VA is $467,647 as of February 2026, up 3.2% year over year according to Zillow.
Current Home Prices in Virginia Beach
| Metric | Value |
|---|---|
| Median Home Value | $467,647 |
| Year-over-Year Change | +3.2% |
| Lowest ZIP Median | $320,203 |
| Highest ZIP Median | $651,674 |
| Number of ZIP Codes | 9 |
| Data As Of | February 2026 |
The $467,647 median puts Virginia Beach in a moderate price tier for the Hampton Roads metro. The gap between the cheapest and most expensive ZIP codes is over $331,000, which tells you location within the city matters enormously.
That 3.2% annual gain is modest. It’s not the kind of appreciation that prices out buyers overnight, but it does mean a home purchased a year ago has gained roughly $14,500 in value. The metro area — Virginia Beach-Norfolk-Newport News — has a military-heavy economy, which tends to create steady but not explosive demand.
Month to month, prices ticked up 0.4% from January to February 2026. That pace has been remarkably consistent. No sharp spikes. No pullbacks. Just a slow grind higher.
Virginia Beach Home Prices by Neighborhood
| ZIP Code | Median Home Value | Median Rent |
|---|---|---|
| 23457 | $651,674 | N/A |
| 23451 | $647,508 | $1,898 |
| 23456 | $545,555 | $2,726 |
| 23454 | $451,660 | $2,012 |
| 23455 | $450,734 | $2,327 |
| 23464 | $400,598 | $1,975 |
| 23452 | $376,336 | $1,755 |
| 23453 | $364,551 | $1,846 |
| 23462 | $320,203 | $1,892 |
Most Expensive
23457 leads the city at $651,674 — a full 39% above the city median. This southern ZIP covers Pungo and the rural southern reaches of Virginia Beach, where larger lots drive prices up.
23451 comes in at $647,508 with a surprisingly low median rent of $1,898, making the price-to-rent ratio unusually high. This is the Oceanfront area.
23456 sits at $545,555 with the highest rents in the city at $2,726/month, suggesting strong demand from both buyers and renters in the Kempsville/Indian River area.
Most Affordable
23462 is the cheapest entry point at $320,203 — roughly $147,000 less than the city median. Rents here run $1,892, making this a potential sweet spot for first-time buyers.
23453 offers homes at $364,551 with rents at $1,846. It’s 22% below the city average.
23452 rounds out the bottom three at $376,336 and has the lowest rents in the city at $1,755/month.
Rent vs Buy in Virginia Beach
The citywide median rent sits around $1,975/month (based on the most common ZIP codes). How does that compare to buying?
A $467,647 home with 20% down ($93,529) leaves a $374,118 mortgage. At a 6.8% rate over 30 years, that’s roughly $2,440/month in principal and interest alone. Add property taxes, insurance, and maintenance, and you’re looking at $2,700-$3,000/month in total housing costs.
| Scenario | Monthly Cost |
|---|---|
| Median Rent | ~$1,975 |
| Mortgage (P&I, 20% down, 6.8%) | ~$2,440 |
| Mortgage + Taxes/Insurance (est.) | ~$2,900 |
Renting saves you roughly $700-$900/month in cash flow. But that math ignores equity buildup. At 3.2% annual appreciation, a $467,647 home gains about $15,000/year in value.
The cheapest ZIP for renters is 23452 at $1,755/month. The most expensive is 23456 at $2,726. That $971 spread means your rental budget alone could determine which neighborhood you land in.
For buyers who can afford the upfront costs, the steady appreciation and equity buildup tilt the long-term math in favor of owning — especially in cheaper ZIPs like 23462 where the buy-vs-rent gap is narrower.
Population Growth and Migration
Virginia Beach is losing residents — slowly.
| Year | Population |
|---|---|
| 2020 | 459,673 |
| 2021 | 458,599 |
| 2022 | 454,886 |
| 2023 | 453,779 |
| 2024 | 454,808 |
The city dropped from 459,673 in 2020 to 454,808 in 2024 — a 1.1% decline. But look closer: after three straight years of losses, the population ticked up by about 1,000 between 2023 and 2024. That’s the first growth in four years.
How does Virginia Beach compare to its neighbors?
| City | 2024 Population | 4-Year Growth |
|---|---|---|
| Suffolk | 103,105 | +8.8% |
| Richmond | 233,655 | +3.0% |
| Chesapeake | 254,997 | +2.1% |
| Lynchburg | 80,301 | +1.7% |
| Hampton | 137,596 | +0.2% |
| Virginia Beach | 454,808 | -1.1% |
Suffolk is booming at +8.8%. Chesapeake, right next door, grew 2.1%. Virginia Beach is the only city in this group that shrank. For housing, that tempers demand pressure — one reason prices are growing at a measured 3.2% rather than double digits.
Virginia Beach Housing Market Trends
| Month | Average Value | Low | High |
|---|---|---|---|
| Feb 2026 | $467,647 | $320,203 | $651,674 |
| Jan 2026 | $465,828 | $318,767 | $647,999 |
| Dec 2025 | $463,991 | $317,481 | $643,038 |
| Nov 2025 | $461,822 | $316,116 | $639,171 |
| Oct 2025 | $459,652 | $314,585 | $635,681 |
| Sep 2025 | $457,543 | $312,985 | $632,486 |
| Aug 2025 | $455,879 | $311,631 | $630,381 |
| Jul 2025 | $454,729 | $310,792 | $629,252 |
| Jun 2025 | $453,798 | $310,266 | $628,278 |
| May 2025 | $453,410 | $310,439 | $626,944 |
| Apr 2025 | $453,331 | $310,906 | $625,578 |
| Mar 2025 | $453,322 | $311,452 | $623,736 |
Twelve straight months of gains. Not a single down month.
The pace accelerated in the second half. From March to July 2025, values barely moved — just $1,407 total over four months. Then from August onward, monthly gains picked up to roughly $2,000-$2,200/month.
The price floor rose too. The cheapest ZIP went from $311,452 in March 2025 to $320,203 in February 2026 — a $8,751 increase. Meanwhile, the ceiling jumped from $623,736 to $651,674. The expensive areas are pulling away faster, widening the gap by about $19,000 over the year.
Is Virginia Beach a Good Place to Buy in 2026?
The numbers tell a mixed but mostly positive story.
On the plus side: prices are growing at a manageable 3.2%, well below the frenzied appreciation many markets saw in 2021-2022. There’s no sign of a price correction — the trend line hasn’t dipped once in 12 months. And with population essentially flat, you’re not competing against a flood of new arrivals.
The headwinds: mortgage rates make monthly payments significantly higher than rent. The population decline, while stabilizing, means demand growth comes from household formation and military reassignments rather than net migration. That caps upside.
For first-time buyers, ZIPs like 23462 ($320,203) and 23453 ($364,551) offer entry points well below the city median. If you’re buying in the $300K range, the monthly payment math starts looking more competitive with rent.
Virginia Beach rewards patient buyers. This isn’t a market where you’ll double your money in five years. But it’s also not one where you’re likely to lose it.
Virginia Beach Housing Market Outlook for 2026-2027
The 12-month trend points to continued modest growth. Monthly gains have been accelerating: the last three months averaged about $1,800/month compared to roughly $400/month during the spring 2025 flat stretch.
If the current pace continues, Virginia Beach home values could reach the $475,000-$480,000 range by mid-2026. The $500,000 mark would require a sustained acceleration beyond what the data currently shows.
The near-flat population trend limits explosive growth. Without a major economic catalyst, expect more of the same: 2-4% annual appreciation through 2027. The market’s floor has been rising steadily, which suggests underlying demand remains intact even if it’s not surging.
Buyers waiting for a pullback should note there’s nothing in the current data suggesting one is coming.
Similar Markets in VA
If you’re exploring the Hampton Roads region and broader Virginia market, here are comparable cities:
- Chesapeake — Virginia Beach’s neighbor to the west, with a growing population (+2.1%) that could mean stronger appreciation pressure.
- Hampton — A more affordable option in the same metro, with essentially flat population growth.
- Suffolk — The fastest-growing city nearby at +8.8%, worth watching if you want to catch a growth wave early.
- Woodbridge — For buyers willing to move toward the D.C. corridor, a different market entirely.
- Fredericksburg — A smaller city between Richmond and D.C. with its own distinct housing dynamics.
Frequently Asked Questions
What is the average home price in Virginia Beach?
The average home price in Virginia Beach is $467,647 as of February 2026. Prices range from $320,203 in the most affordable ZIP (23462) to $651,674 in the most expensive (23457). That’s a wide spread for a single city.
Are home prices going up or down in Virginia Beach?
Up. Virginia Beach home prices rose 3.2% year over year. The city has posted 12 consecutive months of price increases with no down months in the data. The pace of gains accelerated in late 2025.
Is it cheaper to rent or buy in Virginia Beach?
Renting is cheaper on a monthly basis. Median rent runs about $1,975/month, while a mortgage on a median-priced home costs roughly $2,900/month including taxes and insurance. But buying builds equity — at 3.2% appreciation, that’s about $15,000/year in paper gains.
What is the most affordable neighborhood in Virginia Beach?
ZIP code 23462 has the lowest home values at $320,203 — about 32% below the city median. Rent there is $1,892/month, which is close to the city average. The next cheapest options are 23453 ($364,551) and 23452 ($376,336).
Methodology
Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.