D+
16%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
53%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Virginia Beach Virginia National
Cost of living116109100
Goods & Services100100100
Groceries101101100
Health care9699100
Housing153130100
Transportation10095100
Utilities105104100

An Overview of Cost of Living in Virginia Beach, VA

The cost of living in Virginia Beach affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Virginia Beach is 116, which is 16% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs are a very significant part of the Virginia Beach cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 52.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Virginia Beach?

Locals have the inside scoop on their city. So, we polled 13 residents in Virginia Beach to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 31% find it reasonable with decreasing prices, but 69% think it's quite pricey, with prices that continue to rise.

Is Virginia Beach Affordable?

Wondering if Virginia Beach is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Virginia Beach, for example, the median home price is 55.6% higher than what folks pay nationally, and monthly rent is 45.4% higher than the usual rates. Plus, income levels matter too, with Virginia Beach boasting a median household income of $78,136, which is 41.2% higher than the national average.

What Factors can Influence the Cost of Living in Virginia Beach?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Virginia Beach, the groceries index is 0.5% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Virginia Beach, healthcare costs are 4.4% lower than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Virginia Beach, the utilities index registers at 4.8% higher than the national average.

Where is the Data From?

The cost of living in Virginia Beach, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Virginia Beach is 7% higher than the Virginia average
  • The cost of living in Virginia Beach is 16% higher than the national average
  • Virginia Beach housing is 53% higher than the national average
  • Virginia general sales tax is 4% higher than the national average
  • Virginia state income tax is 11% lower than the national average

Most Affordable Places to Live in and Around Virginia Beach

See all the best places to live around Virginia Beach

Compare Virginia Beach, VA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$94,183$7,849$2,197$2,826
      Renters$56,562$4,714$1,320$1,697
      A good way to judge both the affordability of the housing and the cost of living in Virginia Beach is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Virginia Beach has a median income of about $94,183 for people who own homes. Based on that number, a maximum of $2,197 should be spent on expenses related to housing. Renters have a slightly different median income, which is $56,562. Based on this average, renters should spend no more than $1,320 on all rental costs if they want to maintain a non-impoverished standard of living.

      Virginia Sales Tax

      State General Sales Tax With Max Surtax
      Virginia 5.3% 6%

      Virginia Income Tax

      State Income Tax (Low) Income Tax (High)
      Virginia 2% 5.75%

      Goods & Services

      Item Virginia Beach National avg. Difference
      Haircut $20.00$24.2617.6%
      Beauty Salon $54.17$45.5618.9%
      Toothpaste $3.72$3.700.5%
      Shampoo $1.26$1.281.3%
      Movie $13.31$12.139.7%
      Bowling $24.17$18.0034.3%

      Groceries

      Item Virginia Beach National avg. Difference
      Ground Beef $5.54$5.845.2%
      Fried Chicken $1.44$1.578.5%
      Milk $4.63$4.671.0%
      Potatoes $5.27$4.936.8%
      Pizza $12.72$12.095.3%
      Beer $10.64$10.412.2%

      Health Care

      Item Virginia Beach National avg. Difference
      Optometrist $95.44$125.6824.1%
      Doctor $122.83$135.789.5%
      Dentist $109.67$113.293.2%
      Ibuprofen $10.76$10.651.0%
      Lipitor $489.65$468.604.5%

      Housing

      Item Virginia Beach National avg. Difference
      Home Price $287,400.00$184,700.0055.6%
      Avg. Mortgage Payment $2,083.79$2,346.6911.2%
      Apartment Rent $1,380.00$949.0045.4%

      Transportation

      Item Virginia Beach National avg. Difference
      Gasoline $3.27$3.465.5%
      Tire Balancing $60.00$59.920.1%

      Utilities

      Item Virginia Beach National avg. Difference
      All Electricity $227.22$193.9917.1%
      Phone $185.33$192.253.6%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Virginia Beach, VA450,88211616.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Halifax, NS451,852n/a 
      Laval, QC445,050n/a 
      Miami, FL461,08012423.8%
      Long Beach, CA462,08115757.0%
      Raleigh, NC469,69811110.5%
      Virginia Beach, VA450,88211616.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.