Virginia Beach City County · Virginia · South · 456k residents
Virginia Beach, VA: economy, jobs & business costs
The site-selection read on Virginia Beach: labor costs, talent, corporate tax, energy, and business activity, with the Virginia median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,154/wk. Virginia's corporate income tax rate is 6%. Commercial electricity averages 8.7¢/kWh.
Compare Virginia Beach side by side
Avg. weekly wage
$1,154/wk
Corporate income tax
6%
Bachelor's degree or higher
40.9%
Commercial electricity
8.7¢/kWh
Economic momentum
How fast Virginia Beach's economy is moving, ranked against the US cities we track.
43/100
Steady
Ranks Virginia Beach's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $400,000 |
| Price per sq. ft. | $240 |
| Property tax rate | 1% |
| 1-bedroom rent | $1,500/mo |
| 2-bedroom rent | $1,750/mo |
| State & local income tax | 4.36% |
| Sales tax | 6% |
| Corporate income tax | 6% |
| Avg. weekly wage | $1,154/wk |
| Bachelor's degree or higher | 40.9% |
| Commercial electricity | 8.7¢/kWh |
| Businesses per 1k residents | 31.1/1k |
| Wage: Software developer | $136,460 |
| Wage: Registered nurse | $93,600 |
| Wage: General manager | $122,080 |
| Wage: Customer service | $42,730 |
| Wage: Warehouse worker | $36,380 |
| Wage: Heavy truck driver | $56,860 |
| Wage: Electrician | $62,900 |
| Wage: Retail salesperson | $34,240 |
| Cost of living index | 100 |
| Groceries index | 101 |
| Utilities | $170/mo |
| Transit pass | $60/mo |
| Gas price | $3.20/gal |
| Healthcare index | 99 |
| Childcare (per child) | $1,250/mo |
| Median household income | $87,000 |
| Unemployment rate | 3.2% |
| Population | 456k |
| Crime index | 30/100 |
| School rating | 6.5/10 |
| Walkability | 34/100 |
| Disaster risk | 58/100 |
| Avg. commute | 24 min |
| Sunny days / year | 213 days |
| July high | 87°F |
| January low | 32°F |
| Annual snowfall | 3 in |
| Home price YoY | +3.2% |
| Home price MoM | +0.1% |
| Rent YoY | +5.5% |
| Rent MoM | +0.4% |
| Employment (jobs) YoY | +0.6% |
| Building permits YoY | -34.5% |
| Ocean coast | < 3 mi |
| Big lake | 111 mi |
| Mountains | 175 mi |
| Major airport | 13 mi |
| Ski resort | 177 mi |
Popular comparisons
Nearby
- Chesapeake, VA · 253k
- Norfolk, VA · 234k
- Portsmouth, VA · 97k
- Hampton, VA · 138k
- Newport News, VA · 184k
Similar size
- Arlington, VA · 236k
- Richmond, VA · 229k
- Alexandria, VA · 157k
- Suffolk, VA · 99k
- Roanoke, VA · 98k
Real listings in Virginia Beach
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Virginia Beach a good place to run a business?
- Virginia's corporate income tax rate is 6%; average weekly wages in the surrounding labor market run $1,154/wk; commercial electricity averages 8.7¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Virginia Beach, VA?
- Virginia Beach indexes at 100 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,750/mo and a median home value of $400,000.
- How much does a house cost in Virginia Beach?
- The median home value in Virginia Beach is $400,000 (compiled estimate; individual listings vary).
- How much is rent in Virginia Beach?
- A two-bedroom in Virginia Beach rents for about $1,750/mo.