Connect With Us: Facebook Twitter Instagram

How Expensive is it to Live in Virginia Beach Compared to Other Coastal Cities in the U.S.?

Last Updated: Friday, September 6, 2019 by Virginia Beach
Image Credit: Business Insider

Millennials are on the move and finding home in smaller cities right by the ocean. Recent data indicates that 16.4% of the demographic are packing up and settling near the Atlantic—at Virginia Beach—putting it at the top 10 list of cities. Of course, they aren’t just out to search for sleepy beach towns or catch the perfect wave.

Image credit: Travel + Leisure

 

Virginia Beach has a thriving economy with the 13th lowest unemployment rate and 12th lowest poverty rate in the entire country. The city offers a quality of life better than the average city in America based on metrics such as economy, housing, education, health care, and crime statistics. Great opportunities await at the mouth of Chesapeake Bay where, unlike major cities such as New York or Chicago, the neighborhoods are much safer. This factor is an important consideration for those wanting to start a family.

However, better quality of life also means a slightly more expensive cost of living especially when it comes to housing. The average rent for a single-bedroom apartment in the metro is $1,130 while a three-bedroom unit might set you back $1,764 a month. The median sales price for a property is $259,000 with a $159 price tag per square feet.

Compared to other popular coastal towns though, living in Virginia Beach doesn’t sound too bad. For instance, a home in Santa Barbara, California can cost upwards of $1million. Renting a studio apartment is $1,238, which is already more than a one-bedroom unit in Virginia Beach. Moving to the other side of the map, an apartment can be leased at $824 while houses are at a similar asking price as Virginia Beach. Further down south, Miami, Florida is slightly more expensive than VA. Although, it's significantly more affordable than the West Coast at $390,000 for a home. Miami is certainly no sleepy beach town with an exciting nightlife and luxuries left, right and center.

Image credit: Discover Homes Miami

 

However, when computed, the median household monthly salary in Virginia Beach is $5,119, according to the Virginia Beach Department of Economic Development. This is higher compared to the nation’s average income of $4,328. Groceries and dining, utilities, and healthcare are consistent with the average, making it more affordable considering the higher income. Private and public transportation are also much cheaper compared to major cities.

Image credit: The Culture Trip

 

Virginia Beach also has a rising food scene, which attracts a lot of tourists and potential residents. Many restaurants specialize in seafood with the abundance of fresh fish and crustaceans coming in daily. It is also home to over 200 city parks, a wildlife refuge, and even a beautiful green space created out of landfill waste – Mount Trashmore Park. While oceanfront fun is the city’s specialty, there are plenty of activities in the city center and an amazing park system. All in all, Virginia Beach is a great place to mix leisure, business, and home life.

COMMENTS:

EDUCATE YOURSELF

View recent articles about our region and things to know

Historic Cavalier Hotel Reopens! The historic Cavalier Hotel reclaimed its well-deserved reputation as a luxury destination in Virginia Beach when … Read More

If you’re looking forward to visiting Virginia Beach, but you’re worried about what to do with your lovely furry friend, you don’… Read More

In a recent study done by job resource website Zippia, Virginia Beach was named the Number 8 happiest city in the U.S. While they did consider resi… Read More

When you come to Virginia Beach and start walking toward the northern end of the beach (beyond 31st Street), you may notice something a little uniq… Read More

MORE THINGS TO DO INFORMATION

Healthy Activities in Virginia Beach

Healthy Activities in Virginia Beach is always a favorite subject for our locals and to… Read More

Whale Watching in Virginia Beach

Whale watching in Virginia Beach is a must-do activity. For some, it’s a bucket l… Read More

Dog Parks in Virginia Beach

Virginia Beach boasts several “off-leash” dog parks where dogs can go to s… Read More

Beach and Boardwalk Basic Rules

THINGS YOU NEED TO KNOW Important Numbers Urgent Care Hotel Check-In Tips Lifeguards S… Read More

Beach Bucket Lists

These are short lists of things that you can do while staying in Virginia Beach.  Obvi… Read More

Fishing in Virginia Beach

Fishing in Virginia Beach is an adrenaline rush when you land “the big one”… Read More

Do NOT follow this link or you will be banned from the site!

STAY INFORMED
Join the VABEACH.COM Monthly Newsletter

Find out what is going on in Virginia Beach! Get the latest updates on news, events, discounts/specials and many more things in Virginia Beach!