Housing is the biggest cost of living in Virginia Beach. The Census Bureau puts the median home value at $382,500 and median rent at $1,714. For the city's current fiscal year (FY 2027, July 2026 to June 2027), plan on a real estate tax rate of $0.97 per $100 of assessed value, $4.00 per $100 vehicle tax, 6% sales tax and Virginia income tax up to 5.75%.
Key facts
- FY 2027 real estate tax rate: $0.97 per $100 of assessed value, the lowest of the seven Hampton Roads cities in Chesapeake's FY 2027 comparison.
- Vehicle personal property tax: $4.00 per $100 of assessed value, due June 5.
- General sales tax: 6% (4.3% state, 1% local, 0.7% Hampton Roads regional).
- Virginia income tax: 2% to 5.75%, with the top rate on taxable income over $17,000.
- Census medians (2020-2024): home value $382,500, gross rent $1,714, monthly owner costs with a mortgage $2,100, household income $92,968.
What does housing cost in Virginia Beach?
Housing drives most of the budget. Here's what the official sources say:
| Measure | Value | Source |
|---|---|---|
| Median value of owner-occupied homes | $382,500 | Census ACS 2020-2024 |
| FY 2027 median home assessment | $383,600 | City assessor's annual report, as reported by The Virginian-Pilot |
| Median gross rent | $1,714 | Census ACS 2020-2024 |
| Median monthly owner costs, with a mortgage | $2,100 | Census ACS 2020-2024 |
| Median monthly owner costs, no mortgage | $743 | Census ACS 2020-2024 |
| Homes assessed between $250,000 and $499,000 | About 70% | City of Virginia Beach |
Keep in mind that the Census owner-cost figures include people who bought years ago at lower prices and rates. A purchase today will usually cost more per month. For current prices, see what the average home price is in Virginia Beach right now or run a live search of Virginia Beach listings.
How much are property and vehicle taxes?
Real estate tax. The general rate is $0.97 per $100 of assessed value. On a home assessed at $383,600, that's about $3,721 a year. Bills come in two installments, due December 5 and June 5, and most people with a mortgage pay through escrow. A few special service districts have a different combined rate; for example, the assessor lists Sandbridge at $0.98 and Central Business District South (Town Center) at $1.42.
Vehicle personal property tax. Virginia Beach taxes vehicles at $4.00 per $100 of assessed value, due June 5 each year. The city also charges an annual vehicle license fee, which Chesapeake's FY 2027 comparison lists at $30 for most passenger vehicles.
Tax relief. Seniors 65 and older and people who are permanently and totally disabled may qualify for real estate tax relief if they meet income and asset limits. Veterans rated 100% service-connected, permanent and total disability may have their home exempt.
For details, see my guide to Virginia Beach property taxes.
What do utilities cost?
Virginia Beach homeowners usually get:
- A City Services bill covering water, sanitary sewer, trash and stormwater. Water is metered by use; the other services are fixed charges.
- An HRSD charge for wastewater treatment, based on water use.
- Electricity from Dominion Energy and, in many homes, natural gas from Virginia Natural Gas.
- Internet and phone from private providers.
For context, Chesapeake's FY 2027 regional comparison estimates Virginia Beach's monthly charges at about $38.04 for water (at 5,000 gallons), $33.18 for sewer, $30.55 for solid waste and $17.70 for stormwater. Those are estimates for comparison, and your bills will depend on your home and use. Ask the seller for 12 months of utility bills before you buy.
How do state income and sales taxes work?
Income tax. Virginia's brackets are 2% on the first $3,000 of taxable income, 3% up to $5,000, 5% up to $17,000 and 5.75% above $17,000. Virginia doesn't tax Social Security benefits. Taxpayers 65 and older may claim an age deduction of up to $12,000 each, subject to income limits, and up to $40,000 of qualifying military benefits can be subtracted for 2025 and later.
Sales tax. The general rate in Virginia Beach is 6%. Restaurant meals carry an additional local meals tax.
How does Virginia Beach compare with Norfolk and Chesapeake?
Chesapeake's FY 2027 Local Tax Comparisons report compares all seven Hampton Roads cities. Here's how three of them line up:
| Virginia Beach | Chesapeake | Norfolk | |
|---|---|---|---|
| Real estate tax rate per $100 | $0.97 | $1.01 | $1.23 |
| Annual tax on a $378,400 home | $3,670 | $3,822 | $4,654 |
| Vehicle personal property tax per $100 | $4.00 | $4.08 | Not compared here |
| Monthly solid waste fee | $30.55 | None | $33.51 |
| Monthly stormwater fee | $17.70 | $11.35 | $15.12 |
The $378,400 figure is Chesapeake's median single-family assessment, which the report uses as a common benchmark. Taxes are only part of the picture. Home prices, insurance, commute costs and tolls differ too. If you're weighing the two largest cities, see Virginia Beach vs Chesapeake.
What about insurance?
I don't quote insurance premiums because they depend on the specific home and your coverage. What I can tell you is what drives them here:
- Distance to the water and wind exposure.
- Roof age and type, and features like hurricane straps or impact-rated openings.
- Flood zone. Flood insurance is separate from homeowners insurance and may be required by your lender. See do I need flood insurance in Virginia Beach.
- Claims history on the home and for you.
Get quotes early in your contract so there are no surprises.
What other costs should I plan for?
- Commuting and tolls. The Downtown and Midtown tunnels to Portsmouth and the Chesapeake Bay Bridge-Tunnel charge tolls.
- HOA or condo fees, which vary widely.
- Maintenance. Coastal humidity and salt air shorten the life of HVAC systems and exterior materials. Set aside a yearly reserve.
- Hurricane preparation, such as supplies, shutters or a generator.
How do I build a realistic monthly budget?
- Get a payment estimate from a lender, including principal, interest, taxes and insurance.
- Add flood insurance if the home needs it or you want it.
- Add HOA dues.
- Add utilities based on the seller's actual bills.
- Add vehicle taxes for each car.
- Add a maintenance reserve.
The older posts on the cost of living in Virginia Beach and understanding the cost of living in Virginia Beach have more background.
Ready to see what fits your budget?
Search Virginia Beach homes under $300,000, from $300,000 to $500,000 or all listings, then contact me or call or text (757) 919-8874. I'll help you compare total monthly costs for the homes you like, not just the prices.
Barry Jenkins, Legacy Home Team at LPT Realty
Sources
- U.S. Census Bureau QuickFacts: Virginia Beach city
- City of Virginia Beach Real Estate Assessor: Tax Rates
- City of Virginia Beach: FY 2027 Real Estate Assessor's Annual Report highlights
- City of Virginia Beach Treasurer: Real Estate
- City of Virginia Beach Treasurer: Personal Property
- City of Chesapeake: FY 2027 Local Tax Comparisons (PDF)
- City of Virginia Beach: What's in Your City Services Bill?
- Virginia Tax: Retail Sales and Use Tax
- Virginia Tax: 2025 Tax Rate Schedule
- Virginia Tax: Subtractions
- City of Virginia Beach Commissioner of the Revenue: Senior and Disabled Tax Relief
- The Virginian-Pilot: Virginia Beach property values will increase again (Feb. 26, 2026)
Frequently asked questions
What is the Virginia Beach property tax rate right now?
The city's general real estate tax rate for fiscal year 2027 is $0.97 per $100 of assessed value. A few special service districts, such as Sandbridge and Town Center, have a different combined rate listed by the Real Estate Assessor.
How much are utilities in Virginia Beach?
Water, sewer, trash and stormwater come on the city's City Services bill, and HRSD bills separately for wastewater treatment. Electricity and natural gas come from private utilities. Costs depend on home size and use, so ask the seller for 12 months of bills.
How much is homeowners insurance in Virginia Beach?
It varies widely with the home's age, roof, construction, location and distance to the water, plus your coverage choices and claims history. Coastal homes and homes in flood zones can cost noticeably more to insure, so get quotes during your due diligence period.
Is Virginia Beach cheaper than Norfolk or Chesapeake?
On real estate tax rates, yes. Virginia Beach's $0.97 rate is the lowest of the seven Hampton Roads cities in Chesapeake's FY 2027 comparison, which lists Chesapeake at $1.01 and Norfolk at $1.23. Home prices, insurance and commuting costs can change the total picture.
What is the sales tax in Virginia Beach?
The general sales tax is 6%: 4.3% state, 1% local and 0.7% Hampton Roads regional tax. Prepared meals carry an added local meals tax.
Does Virginia tax retirement income?
Virginia doesn't tax Social Security benefits, offers an age deduction of up to $12,000 for eligible taxpayers 65 and older (subject to income limits) and allows up to $40,000 of qualifying military benefits to be subtracted for 2025 and later. Other retirement income is generally taxable.