Thinking about moving to Virginia Beach?
You’ll be in good company. Between 2010 and 2016, more than 14,608 people have moved to Virginia Beach, an increase of 3.3%. New residents are attracted to Virginia Beach’s strong economy, family-friendly atmosphere, and of course, the beach itself: with 38 miles of coastline and a three mile boardwalk, Virginia Beach has the longest pleasure beach in the world.
If you’re expecting an urban character, think again: Virginia Beach is mostly suburban and residential-oriented. But nearby Norfolk (the cities are so close they blend together) offers a more urban experience, while Virginia Beach is all about that long stretch of sand.
Virginia Beach is home to 452,602 Virginians. With an area of 249.0 square miles, Virginia Beach has a population density of 1,818 persons per square mile, which makes it less dense than many other cities of comparable size.
The Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area boasts a population of 1,726,907 people, of which Virginia Beach proper’s population makes up 26%.
One of the drawbacks of all of Virginia Beach’s growth and livability are its relatively high housing prices. The median home value in Virginia Beach is $259,800, 30% above the US median value, according to Zillow. The median price per square foot in Virginia Beach is $151. Over the past 5 years, home values in Virginia Beach have increased by 2%.
Renters in Virginia Beach will also have a hard time finding affordable housing. The median rent in Virginia Beach is $1,541 per month, which is 8% higher than the US median. Over the past year, rental rates in Virginia Beach have increased by 0.2%.
Virginia Beach’s economy is growing strong. The Virginia Beach metro area’s GDP grew by 16% between 2010 and 2015, from $83 billion in 2010 to $96 billion in 2015, a total increase of $13 billion. The metro area has a per capita GDP of $55,405. According to the US Census Bureau, the median household income in Virginia Beach, VA is $58,852, 3% higher than the national median. Virginia Beach’s unemployment rate is 4.4%.