Virginia Beach, VA variant. This is a Virginia Beach, VA-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in Virginia Beach pits the $87,224 median income against a $360,000 median price - a price-to-income ratio of 4.1x.
Can you afford Virginia Beach?
The 28% rule caps housing at $2,035/month on the local median income, supporting roughly $402,494 in price - versus the $360,000 Virginia Beach median.
Virginia Beach is relatively attainable on the local median income.
About Virginia Beach, VA
Virginia Beach applies Virginia state income and sales taxes.
Virginia Beach home prices are moderate for a coastal metro.
Virginia Beach's economy is anchored by the military and tourism, with a cost of living close to the national average.
Worked example: max price on $87,224
28% of $87,224 ÷ 12 ≈ $2,035/month supports about $402,494 at 6.5% with 20% down - compared with the $360,000 median.
Quick reference
- Median home value: $360,000
- Median rent: $1,750/mo
- Median household income: $87,224
- Local sales tax: 6%
- Effective property tax rate: 0.74%
- Cost of living index: 102 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in Virginia Beach?
To afford the $360,000 median home, you'd typically need well above the $87,224 local median income at current rates.
What is the price-to-income ratio in Virginia Beach?
About 4.1x (median home ÷ median income).