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Cost of Living in Virginia Beach

Is it better to rent or buy in Virginia Beach? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$98,334
$1,872/mo

Median in area: $1,872

$417,228

Median in area: $417,228

$83,446

If you Rent

🔑
$2,056 /mo
Base Rent$1,872
Est. Utilities$184
% of Income25.1%
Pre-tax Residual$6,139

If you Buy

🏠
$2,861 /mo
P&I (6.831%)$2,183
Taxes & Ins$494
Est. Utilities$184
% of Income34.9%
Pre-tax Residual$5,334

Cost of Living FAQs

Is it cheaper to rent or buy in Virginia Beach?›

Based on median housing data, renting is currently more affordable on a monthly basis in Virginia Beach. The estimated all-in monthly cost for renting is $2,056, while owning a median-priced home with a 20% down payment is roughly $2,861 per month (a difference of $805).

How much do utilities cost in Virginia Beach?›

The average monthly utility cost (electricity and natural gas) for a typical home in Virginia Beach is approximately $184. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Virginia Beach?›

To comfortably afford the median rent and utilities in Virginia Beach without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $82,240 per year.