For such a beautiful and fun coastal locale, you’ll be happy to hear that the cost of living in Virginia Beach is actually quite reasonable! With median home prices and average rents right on-par with the national average and an overall affordable environment, you can enjoy life on the Atlantic without breaking the bank.
If you’re planning on moving to Virginia Beach or simply curious about the area, this guide will cover everything there is to know about the Virginia Beach cost of living.
Virginia Beach Cost of Living Index
Is Virginia Beach expensive to live? To answer this question, we’ll look into the Virginia Beach cost of living index for insight.
The cost of living index is the official way to measure how expensive one location is in comparison to the national average. It considers almost all budgetary concerns and weighs them to the national average, including housing costs, healthcare, groceries, utilities, and more.
The national average is defined as a ‘100’, so anything above means a more expensive area while anything below means more affordable, and these numbers can be reflected in percentages.
What Is the Cost of Living in Virginia Beach?
The cost of living in Virginia Beach is 100.2, meaning Virginia Beach is only 0.2% more expensive than the national average!
It’s worth noting that the national Consumer Price Index (CPI), which tracks how much typical goods and services cost, rose by 0.3% in February 2025. Even small increases in CPI indicate rising overall costs, making the Virginia Beach cost of living especially reassuring for residents thanks to its proximity to the national average.
The Consumer Expenditures Survey is a nationwide survey that tracks how people spend their money on common expenses, like housing, food, transportation, and entertainment, helping us understand average spending habits and budgeting trends. Residents in Virginia Beach, according to this survey, typically spend about $22,322/year on housing, $12,247 on transportation, $8,852 on food, $5,639 on healthcare, and an additional $19,304 on everything else.
This brings the grand total to $68,364 for the annual expenditures, while the US average was a higher $77,280, reflecting the affordability in regards to the cost of living in Virginia Beach.
So how much do you need to make to live in Virginia Beach? According to the Family Budget Calculator, a family of two adults and two children would want to earn $104,580/year to comfortably meet the economic demands of the Virginia Beach/Norfolk/Newport News metro area.
Cost of Household Items, Utilities, Gas, & Groceries in Virginia Beach
What is the average cost of living in Virginia Beach VA, and is Virginia Beach expensive?
Here’s a breakdown of common expenses you’d run into when living in the area to help you budget and gauge this answer!
- Steak (Ribeye, 1 pound): $13.71
- Milk (whole 1/2 gallon): $4.63
- Eggs (1 dozen grade A): $4.28
- Potatoes (5 pound bag): $5.27
- Bread (wheat, 1 loaf): $4.01
- Beer (Heineken’s 6 pack): $10.64
- Movie ticket (1st run): $13.31
- McDonald’s Burger (1/4 pounder): $5.29
- Average cell phone bill: $185.33
- Average cost of 1 gallon of gas: $3.272
- Average cost of Virginia Beach utilities (monthly): $227.22
Hampton Roads Transit (HRT) keeps life in Virginia Beach flowing with single rides for $2 and a $70 monthly pass, plus special discounts for minors, seniors, and riders with disabilities. To see what fits your budget best and ride around like a local, be sure to check the official HRT website fare page for all the details.
Virginia Beach Real Estate Market
Housing costs are one of the driving factors behind the cost of living in Virginia Beach. Of the 179,800 households in the area, there’s a 64.9% owner-occupied rate, so renting (both short and long term) is common.
As of February 2025, homes for sale in Virginia Beach boast a median sale price of $399,900, a figure that has risen 13.5% since last year, underscoring the increasing demand for this dynamic and affordable location. This equates to a median of $227/square foot, and with homes selling in an average of just 32 days after listing, you’ll need to be prepared to pounce if you’re planning on buying a home in Virginia Beach.
To compare, the state average median home price is $443,400.
Here’s a breakdown of the Virginia Beach median home price by type of home:
- Single family homes: $474,000
- Townhouses: $285,000
- Condos/Co-ops: $334,408
You might be wondering, based on the Virginia Beach cost of living, is it better to rent or buy? Using the Price-to-rent ratio, which divides the Median Home Price by Median Annual Rent, we can draw conclusions. When the ratio is 1 to 15, buying generally offers the most benefits, whereas a 16 to 20 ratio leans toward renting as the wiser choice. Anything 21 or above strongly suggests that renting is by far the more advantageous option.
Average rent in Virginia Beach is $1,696, equating to a median annual rent of $20,352. So taking $399,900 and dividing it by $20,352, we get a ratio of 19.6, indicating that renters have the upper hand in terms of affordability, and that renting is the cheaper option right now!
Virginia Beach Rental Market – Average Rent in Virginia Beach VA
Now that we know renting is more affordable than buying in Virginia Beach, a trend that is actually common across the nation, and that average rent in Virginia Beach is $1,696/month, let’s look at these numbers a bit more. To give you a better idea, average rent in the US is $1,748 while average rent in Virginia is $1,972, so Virginia Beach presents an enticing rental market.
Two of the most expensive neighborhoods in Virginia Beach for rentals include Aragona Acres and Bay Colony, while the two most affordable are Woods of Piney Grove and The Point, both below $1,500/month.
According to the out of reach report, you’d need to earn above $30/hour in Virginia to afford rent, Virginia Beach being only a touch less.
Average Salary & Household Income in Virginia Beach
According to the Census Bureau, the median household income in Virginia Beach is $90,695/year, a number that’s higher than the US median of $78,538/year, so residents are typically well situated to live comfortably and even save money in terms of meeting economic demands and depending on family size.
When learning about the Virginia Beach VA cost of living, it’s important to know the average salary, too, which is a more individualized look at how much people earn in the area. According to Payscale, the average salary in Virginia Beach is $71,000/year, so there’s lots of opportunity in the city!
The BLS Occupational Employment and Wage Statistics show that management positions are some of the most common and typically earn above $60,000/year followed by office and administrative support occupations at $43,650/year.
Income, Sales & Property Taxes in Virginia Beach
Whether you’re buying food, clothing, or a house, taxes on these items, as well as your income, will affect the cost of living in Virginia Beach. Let’s break down the three major taxes in Virginia Beach, including sales, property, and income.
Income Tax in Virginia Beach
Virginia collects income taxes on a tiered system that starts at 2% and tops out at 5.75%, so your rate depends on your earnings rather than a single flat amount. The City of Virginia Beach doesn’t tack on its own income tax, thanks to state laws that prohibit local governments from doing so. This means residents only pay the state rate, leaving more wiggle room in their monthly budget. For all the latest details, forms, and updates, hop over to the official Virginia Department of Taxation website.
Sales Tax in Virginia Beach
The Virginia Beach retail sales tax rate is 6%. This includes the 4.3% state, 7% Regional, and 1% local sales taxes.
Virginia Beach boasts a moderate sales tax rate compared to other states. It’s lower than Tennessee’s 9.54%, one of the highest rates in the nation, but higher than Alaska’s 1.81% or Hawaii’s 4.44%, two of the lowest sales tax rates in the nation.
Property Taxes in Virginia Beach
Property taxes play a major role regarding the cost of living in Virginia Beach. According to the City of Virginia Beach Real Estate Assessor, real estate is assessed at 100% of its fair market value, and the property tax rate in Virginia Beach VA is $.97 per $100.00 of assessed value.
So for a $400,000 house, the Virginia median home price, you should expect to pay around $3,880 in property taxes.
Comparing the Cost of Living in Virginia Beach
Curious about how the cost of living in Virginia Beach stacks up against other major cities? Here’s a handful of comparisons using the official 2023 cost of living index.
Virginia Beach Cost of Living vs Houston
The cost of living in Virginia Beach (100.2) is 6.1% more than the cost of living in Houston (94.1).
Virginia Beach Cost of Living vs Chicago
The cost of living in Virginia Beach (100.2) is 13.2% less than the cost of living in Chicago (113.4).
Virginia Beach Cost of Living vs Atlanta
The cost of living in Virginia Beach (100.2) is 1.9% more than the cost of living in Atlanta (98.3).
Virginia Beach Cost of Living vs Portland Maine
The cost of living in Virginia Beach (100.2) is 9.7% less than the cost of living in Portland Maine (109.9).
Relocating to Virginia Beach?
Are you looking into the cost of living in Virginia Beach as a part of a move to the area? As the top Virginia Beach movers, we’re happy to help settle you in and offer the best local moving services and long distance moving services in Virginia. Looking for VA Beach storage? We have that, too!
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