Virginia Beach, Virginia Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Virginia Beach, Virginia rental market.

Virginia Beach, Virginia

Average Apartment Rent

$1,735

Y-o-Y Change in Average
Apartment Rent

3%

As of June 2025

Compared to a year ago, Virginia Beach, Virginia apartments have recorded a 3% rent increase.

Virginia Beach, Virginia Average apartment rent trend

Median Rent Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024 Mar 2025
Virginia Beach $1,596 $1,602 $1,638 $1,634 $1,654 $1,689 $1,700 $1,704
National $1,703 $1,703 $1,722 $1,710 $1,716 $1,736 $1,729 $1,736
Virginia Beach
National
Nov 2022
$1,596
$1,703
Mar 2023
$1,602
$1,703
Jul 2023
$1,638
$1,722
Nov 2023
$1,634
$1,710
Mar 2024
$1,654
$1,716
Jul 2024
$1,689
$1,736
Nov 2024
$1,700
$1,729
Mar 2025
$1,704
$1,736

Virginia Beach, Virginia Average Apartment Rent

Virginia Beach, Virginia Apartment rent ranges

Under $1,000
$1,001 - $1,500
$1,501 - $2,000
$2,001 - $2,500
$2,501 - $3,000
Over $3,000

At 53.99%, apartments priced $1,500 - $2,000 represent the bulk of Virginia Beach, Virginia rentals, while condos priced Under $1,000 hold the lowest share of the market – 0.28%.

Virginia Beach, Virginia Housing tenure**

Renter occupied housing units 63,422
Owner occupied housing units 115,493

Renters take up 35% of Virginia Beach, Virginia real estate, occupying a total of 63,422 units, while homeowners live in 115,493 properties.

Median number of rooms of renter-occupied housing units**

4.6

Renter median household income**

$61,265

Average household size of renter-occupied housing units**

2.36

Rental vacancy rate**

4.5%

Virginia Beach, Virginia Renter-occupied housing units by no. of bedrooms**

No bedrooms 1,614
1 bed 10,319
2 beds 27,160
3 beds 18,964
4 beds 4,747
5 or more beds 618

There are 27,160 rentals in Virginia Beach, Virginia with 2 beds making up the highest share of the market, at 43%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 618 units. Overall, the median number of rooms in Virginia Beach, Virginia homes for rent is 4.6.

Virginia Beach, Virginia Renter-occupied units by age of householder**

15 - 24 years 6,427
25 - 34 years 20,050
35 - 44 years 12,269
45 - 54 years 8,751
55 - 59 years 4,467
60 - 64 years 3,286
65 - 74 years 4,655
75 - 84 years 2,029
85 years and over 1,488

Most condos for rent in Virginia Beach, Virginia are occupied by residents in the 25 - 34 years age group (32%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.

Virginia Beach, Virginia Renter-occupied housing units by family type**

Family households 35,031
Non-Family Households 28,391

Virginia Beach, Virginia Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 21,042
No related children of the householder under 18 42,380

A total of 35,031 apartments for rent in Virginia Beach, Virginia, or 55% of all rentals are family households. Additionally, 33% of rental homes include children under the age of 18 – that’s 21,042 units. All in all, the median size of a renter-occupied household in Virginia Beach, Virginia is 2.36.

Virginia Beach, Virginia Renter-occupied housing units by educational attainment**

Less than high school graduate 4,036
High school graduate (including equivalency) 13,467
Some college or associate's degree 24,741
Bachelor's degree or higher 21,178

In terms of education, renters holding bachelor degrees or higher make up 33% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Virginia Beach, Virginia.

Virginia Beach, Virginia Renter-occupied units by year structure built**

Built 2010 - 2019 7,193
Built 2000 - 2009 7,074
Built 1990 - 1999 8,474
Built 1980 - 1989 16,246
Built 1970 - 1979 13,078
Built 1960 - 1969 6,355
Built 1950 - 1959 2,709
Built 1940 - 1949 1,280
Built 1939 or earlier 924

The highest share of Virginia Beach, Virginia apartment rentals, namely 26% or 16,246 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (21%, 13,078 units), and the ones Built 1990 - 1999 (13%, 8,474 units).

Virginia Beach, Virginia Renter-occupied units by year householder moved in**

Moved in 2021 or later 6,444
Moved in 2018 to 2020 26,047
Moved in 2010 to 2017 25,344
Moved in 2000 to 2009 3,825
Moved in 1990 to 1999 1,262
Moved in 1989 or earlier 500

Median year renter moved into unit 2018

Most Virginia Beach, Virginia renters (41%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Virginia Beach, Virginia condos for rent is 2018.

Virginia Beach, Virginia Renter-occupied housing units by vehicles available**

No vehicle available 5,674
1 vehicle available 27,489
2 vehicles available 23,025
3 vehicles available 5,526
4 vehicles available 1,241
5 or more vehicles available 467

When it comes to transportation options, 43% of Virginia Beach, Virginia renters have 1 vehicle available per household, 36% of them have 2 vehicles available, and 9% have No vehicle available.

Virginia Beach, Virginia Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 63,311
Car, truck, or van - carpooled 6,971
Public transportation (excluding taxicab) 1,330
Walked 1,215
Taxicab, motorcycle, bicycle, or other means 1,919
Worked at home 7,393

Virginia Beach, Virginia Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 103,619
Moved within same county 17,224
Moved from different county within same state 11,144
Moved from different state 12,982
Moved from abroad 2,311

The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Virginia Beach, Virginia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates

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