HomeVirginiaVirginia Beach city
Virginia Beach city, Virginia: commercial real estate data.
Virginia Beach city, Virginia had an estimated 454,808 residents on July 1, 2024, down 1.0 percent since the 2020 census base of 459,444, across 249 square miles. County output reached $32.88 bn in 2024, 11,822 establishments operate here, and the SBA record carries 340 7(a) approvals worth $200.5 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Virginia Beach city
How many people live in Virginia Beach city
- Population, American Community Survey 2020-2024456,349
- Households179,851
- Average household size2.54
- Median household income$92,968
- Median age37.9
- Median gross rent$1,714 per month
- Median owner-occupied home value$382,500
- Home value to household income4.1 times
- Annual rent as a share of median income22.1 percent
- Adults 25 and over with a bachelor degree or higher40.9 percent
- Adults 25 and over with a graduate degree15.5 percent
- Adults 25 and over317,944
- Population under 1899,859
- Share under 1821.9 percent
- Population 65 and over72,515
- Share 65 and over15.9 percent
- Working age population, 18 to 64283,975
- Civilian labor force229,840
- Unemployment rate4.0 percent
- Labor force participation, adults 18 and over64.5 percent
- Rank by population among Virginia independent cities3rd of 133
- Rank by population among US county-equivalents, Puerto Rico included159th of 3,222
Virginia Beach city is the 3rd largest of 133 Virginia independent cities by population. A median home costs 4.1 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.9 percent against 15.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Virginia Beach city
Is Virginia Beach city's population growing?
- Population, July 1, 2024454,808
- Census 2020 base population459,444
- Population change since the 2020 census base-1.01 percent
- Population change, 2023 to 20241,029
- Births, 20245,081
- Deaths, 20243,446
- Natural change, 20241,635
- Net domestic migration, 2024-2,284
- Net international migration, 20241,675
- Total net migration, 2024-609
- Cumulative net domestic migration, 2021 to 2024-15,288
- Rank by growth among US county-equivalents2194th of 3,144
The county has lost 1.01 percent of its population since the 2020 census base. Births exceeded deaths in 2024 by more than net migration took away, so the population grew even though more people left than moved in.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Virginia Beach city
Where are people moving to Virginia Beach city from?
- Tax returns filed by households arriving16,672
- People arriving, from those returns29,357
- Tax returns filed by households leaving18,101
- Net household movement-1,429
- Adjusted gross income arriving$1.10 bn
- Net adjusted gross income movement$-155.3 m
- Average income of an arriving household$66,067
- Average income of a leaving household$69,432
- Largest single originNorfolk city (2,715 households)
- Largest single destinationNorfolk city (2,555 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Norfolk city | 2,715 | 4,700 | $157.5 m |
| Chesapeake city | 1,943 | 3,377 | $113.2 m |
| San Diego County | 418 | 909 | $30.2 m |
| Portsmouth city | 417 | 711 | $17.4 m |
| Foreign - APO/FPO ZIPs | 404 | 870 | $25.6 m |
| Suffolk city | 274 | 482 | $15.8 m |
| Hampton city | 267 | 437 | $11.1 m |
| Newport News city | 253 | 386 | $13.9 m |
Households arriving report $3,365 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Norfolk city, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Virginia Beach city
What is the Virginia Beach city economy?
- County GDP, 2024$32.88 bn
- County GDP, 2023$29.84 bn
- GDP change, 2023 to 202410.2 percent
- GDP change over five years39.0 percent
- Rank by GDP among the Virginia areas BEA publishes6th of 105
- Rank by GDP among the US county areas BEA publishes180th of 3,127
- GDP per resident$72,048
Output grew 10.2 percent in the latest year and 39.0 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Virginia Beach city
Employment by industry in Virginia Beach city
- Covered employment, annual average179,013
- Establishments reporting13,794
- Average annual pay$57,981
- Average weekly wage$1,115
- Health care and social assistance, employment24,862
- Health care and social assistance, average annual pay$64,071
- Accommodation and food services, employment23,995
- Accommodation and food services, average annual pay$26,769
- Retail trade, employment21,657
- Retail trade, average annual pay$35,502
- Professional, scientific and technical services, employment13,791
- Professional, scientific and technical services, average annual pay$97,601
- Administrative and support and waste management services, employment12,022
- Construction, employment9,701
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 24,862 | 2,231 | $64,071 |
| Accommodation and food services | 23,995 | 1,321 | $26,769 |
| Retail trade | 21,657 | 1,351 | $35,502 |
| Professional, scientific and technical services | 13,791 | 1,786 | $97,601 |
| Administrative and support and waste management services | 12,022 | 769 | $52,826 |
| Construction | 9,701 | 1,234 | $72,561 |
| Manufacturing | 6,856 | 302 | $68,258 |
| Finance and insurance | 6,649 | 697 | $93,807 |
Health care and social assistance is the largest private sector at 24,862 jobs, 13.9 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Virginia Beach city
How many businesses are in Virginia Beach city?
- Establishments, all industries11,822
- Employment at those establishments165,136
- Annual payroll$8.67 bn
- Establishments per 1,000 residents25.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Virginia Beach city
Building permits in Virginia Beach city
- Housing units authorized by permit, 2024666
- Declared construction value permitted$142.4 m
- Single family units authorized319
- Multifamily units authorized347
- Multifamily share of units52.1 percent
- Average declared value per unit$213,866
- Units authorized per 1,000 households3.7
Multifamily is 52.1 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Virginia Beach city
SBA loans in Virginia Beach city (7(a) and 504)
- 7(a) approvals recorded340
- 7(a) gross approval dollars$200.5 m
- Average 7(a) approval$589,744
- Median 7(a) approval$227,850
- 10th percentile approval$37,490
- 90th percentile approval$1,486,500
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)4,981
- Jobs per approval14.7
- Distinct 7(a) lenders active74
- Distinct industries receiving approvals133
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.9 percent
- Loans on real estate terms27
- Loans on working capital terms, 120 months or shorter279
- Franchise loans86
- Franchise share of approvals25.3 percent
- Leading industry by approval countLimited-Service Restaurants (21)
- Most active lenderThe Huntington National Bank (38)
- 504 approvals recorded172
- 504 gross approval dollars$106.0 m
- Average 504 approval$616,209
- Median 504 approval$424,500
- Distinct CDCs active2
- 504 jobs per approval7.9
- 504 jobs per million dollars approved12.7
- Most active CDC504 Capital Corporation (139)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$306.5 m
The average approval of $589,744 sits well above the median of $227,850, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 7.9 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Virginia Beach city
SBA loan default and charge-off rates in Virginia Beach city
Do SBA loans in Virginia Beach city get paid back?
- Loans with a final outcome recorded47
- Paid in full41
- Charged off6
- Charge-off rate on resolved loans12.8 percent
- Status: Paid in full41
- Status: Exempt from disclosure222
- Status: Charged off6
- Status: Cancelled50
- Status: Committed, not yet disbursed21
Of the 47 loans that have reached a final outcome, 12.8 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Virginia Beach city
SBA lending by place in Virginia Beach city
- Borrower cities with recorded lending3
- Virginia Beach, approvals337
- Chesapeake, approvals2
- Virgina Beach, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Virginia Beach | 337 | $199,183,600 |
| Chesapeake | 2 | $533,000 |
| Virgina Beach | 1 | $796,500 |
Virginia Beach accounts for 337 approvals against 2 in Chesapeake. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Virginia Beach city
How large is Virginia Beach city?
- Land area249 sq mi
- Rank by land area among Virginia independent cities80th of 133
- Width, east to west19.9 mi
- Height, north to south26.3 mi
- Geographies sharing a boundary3
- Residents per square mile of land1,833
- Establishments per square mile47.48
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Virginia Beach city
Flood risk in Virginia Beach city
- Participation of the county's own NFIP community Virginia Beach, city ofParticipating, community 515531
- Community Rating System class of the county's own communityClass 6
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 6
- Communities carrying a CRS class1
- Radon levels in Virginia Beach city, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, the City of Virginia Beach (community 515531), participates in the National Flood Insurance Program and carries Community Rating System class 6, a flood insurance premium discount for policies written there. The EPA places Virginia Beach city in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 6, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Virginia Beach city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Virginia Beach city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024456,349
- Households179,851
- Average household size2.54
- Median household income$92,968
- Median age37.9
Common questions
Virginia Beach city questions, answered from the record.
How many people live in Virginia Beach city, Virginia?
The Census Bureau estimates 454,808 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 456,349, in 179,851 households, ranking 3rd of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Virginia Beach city's population growing?
The population has fallen 1.01 percent since the 2020 census base of 459,444, to 454,808 on July 1, 2024. In 2024 there were 5,081 births against 3,446 deaths, with net migration of -609. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Virginia Beach city?
$92,968. The median owner-occupied home is valued at $382,500, which is 4.1 times income, and median gross rent is $1,714 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Virginia Beach city?
11,822 establishments, employing 165,136 people with an annual payroll of $8.67 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Virginia Beach city?
Health care and social assistance is the largest private sector at 24,862 jobs, 13.9 percent of covered employment. Covered employment averages 179,013 jobs at an average annual pay of $57,981, or $1,115 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Virginia Beach city?
340 7(a) approvals totaling $200.5 m since FY2020, across 74 lenders, with a median approval of $227,850, plus 172 504 approvals worth $106.0 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Virginia Beach city get paid back?
Of the 47 loans that have reached a final outcome, 41 were paid in full and 6 charged off, a charge-off rate of 12.8 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Virginia Beach city?
666 housing units were authorized by permit in 2024, with a declared construction value of $142.4 m. Multifamily was 52.1 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Virginia Beach city?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Virginia Beach city come from?
The largest single origin is Norfolk city, with 2,715 households. Arriving households report an average income of $66,067 against $69,432 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Virginia Beach city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Virginia Beach city?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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