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The beautiful city of Virginia Beach is quite a profitable city in the real estate market sheerly due of the fact that the city possesses some of the most fascinating locales in the whole of US. Miles of splendid beach area has transformed the city into the largest resort area in the world and has given rise to numerous hotels, motels, private property and restaurants within the city's vicinities. Therefore, it has become all the more necessary to know in detail about the Virginia Beach real estate market.
According to current statistics, the price range of the total 162,277 properties listed within Virginia Beach real estate listings are as given below:-
About 80012 housings units are priced at less than $50000
A total of 28006 housing units come within the range of $50000 to $99000
About 32086 housing units are priced between $100,000 to $149,999
Only 299 housing units are priced above $1,000,000
Among the total 162,277 Virginia Beach real estate listings, a total of 154,455 housing units have been occupied among whom, only 101,308 housing units have been occupied by owners. The average household size in Virginia Beach is 3 and the median income being quite high as 48,705, the economy enables quite a large amount of the Virginia beach population to buy real estate in the city.
The Virginia Beach government conducts annual assessments of real estate taxes and prices within the city so that real estate prices can be kept at par with the rest of the market.
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