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South Tidewater News

Thursday, November 21, 2024

Virginia Beach 1-bedroom rent increases by 3% in May

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Rental prices for 1-bedroom units in Virginia Beach increased by 3 percent in May compared to the previous month, according to Zumper.

The average price for a 1-bedroom in Virginia Beach was $1,030, representing a 0.03 percent increase over the previous year.

According to RealPage, May of 2020 saw the first year over year decline in asking rents since 2010. While in September of 2020, the average home price on Realtor.com was over $350,000, up over 10 percent from the previous year according to Norada.

Single Bedroom Pricing
City NameMedian PriceMonthly Change %Annual Change %
Virginia Beach$1,03032

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