Virginia Beach, VA variant. This is a Virginia Beach, VA-specific version of the Rent vs Buy 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 Rent vs Buy Calculator.
In Virginia Beach, renting costs about $1,750/month while owning the $360,000 median home runs roughly $2,147/month all-in - the gap drives the rent-vs-buy decision.
Rent vs. buy in Virginia Beach
Owning includes P&I (≈ $1,820), property tax (≈ $222), and insurance - about $2,147/month before maintenance, versus $1,750 to rent.
Buying wins when you stay long enough to amortize the $72,000 down payment and closing costs, and when appreciation plus equity outpace the rent you'd otherwise pay.
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: monthly comparison
Own ≈ $2,147/mo vs. rent $1,750/mo - a $397 premium to own. Factor in the $72,000 down payment and expected years in the home.
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
Is it better to rent or buy in Virginia Beach?
Owning runs ≈ $2,147/month vs. $1,750 to rent. Buying favors longer stays that recover the $72,000 down payment and closing costs.
What's the median rent in Virginia Beach?
About $1,750 per month.