Zip Code 23464

Virginia Beach, VAVirginia Beach City County

Real Estate Market Analysis

Q3 2025 Report
$387,189 (Feb 2025)
Median Home Value
~74,000 (estimated for 23464)
Population
$76,610 (city median household income)
Median Income
A- (Niche 2025)
School District Rating

Market Statistics

Property Values

$387,189 (Feb 2025)
Median Home Value
$1,970 for 2bd/2ba (Mar 2025)
Median Rent
$216 (Jan 2024); $284 (Jun 2025, citywide)
Price per Sq Ft

Market Performance

Home Appreciation4.0% year-over-year (Feb 2025)
Market VelocityHomes go pending in ~27 days (Feb 2025)
Foreclosure RateNot specified; citywide rates remain low

Area Information

Area Sizeapprox. 18 sq mi
CountyVirginia Beach City
Primary CityVirginia Beach

Housing Profile

Housing Statistics

Total Housing Units~263 homes for sale (Apr 2025)
Owner OccupiedMajority owner-occupied (city trend)
Rental PropertiesSignificant rental market; median rent $1,970 for 2bd
Vacant UnitsLow vacancy, competitive market
New ConstructionLimited new construction; most inventory is resale

Housing Types

Single-family homesTownhomesCondos

Demographics

~74,000 (estimated for 23464)
Population
~36 years (city average)
Median Age
$76,610 (city median household income)
Median Income
~96% (city unemployment ~4%)
Employment Rate
High school grad or higher: 93%; Bachelor’s or higher: 34% (city)
Education Levels
Predominantly families and professionals
Family Composition

Education Quality

School District Performance

A- (Niche 2025)
District Rating
School DistrictVirginia Beach City Public Schools
Test ScoresAbove state average (citywide)
Graduation Rates94% (citywide, 2024)

Schools in Area

  • Tallwood High School
  • Brandon Middle School
  • Providence Elementary School

Economic Factors

Employment & Business

Job GrowthSteady, driven by defense, healthcare, and tourism
Unemployment Rate~4% (citywide, 2025)
Business EnvironmentDiverse, stable, pro-business climate
Commercial ActivityActive retail and service sector

Major Employers

  • Naval Air Station Oceana
  • Sentara Healthcare
  • Virginia Beach City Public Schools
  • Retail and hospitality sector

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • I-64
  • I-264
  • Hampton Roads Transit bus service

Utilities & Services

  • City water/sewer
  • Dominion Energy
  • Cox/Verizon internet

Quality of Life

Safety & Environment

Lower than national average for violent crime; property crime moderate

Good air and water quality, suburban environment

Healthcare Access

  • Sentara Leigh Hospital
  • Virginia Beach General Hospital

Development Trends

Planned Developments

  • Small-scale residential infill
  • Retail upgrades

Infrastructure Projects

  • Road resurfacing
  • Stormwater upgrades

Investment Outlook

Growth Outlook

Moderate, stable demand with limited new supply

Investment Opportunities

  • Single-family rentals
  • Value-add renovations

Marketing Intelligence

Target Demographics

  • Young families
  • Military personnel
  • First-time buyers
  • Move-up buyers

Competitive Advantages

  • Strong schools
  • Stable home values
  • Quick market turnover

Pricing Strategies

List near recent comps; price competitively due to high demand

Common Objections & Response Strategies

Objection: Rising home prices and affordability

Response Strategy:

Emphasize stable appreciation and lower long-term costs vs. renting

Objection: Limited new construction

Response Strategy:

Highlight quality of existing homes and renovation potential

Objection: Competition/multiple offers

Response Strategy:

Advise on strong offers and pre-approval to improve buyer position

Professional Recommendations

1

Advise buyers to act quickly and be prepared for bidding wars

2

Highlight school quality and community amenities in marketing

3

Target military and relocating families with tailored messaging

4

Encourage sellers to price aggressively but realistically

5

Leverage local lender and contractor networks for smooth transactions

Competitive Analysis

Comparable Markets

  • 23462 (Kempsville)
  • 23456 (Princess Anne)
  • 23455 (Bayside)

Market Positioning

Family-friendly, stable, high-demand

Competitive Advantages

  • Faster sales cycle
  • Higher school ratings
  • Proximity to major employers

Price Comparison

Slightly above city median; more affordable than oceanfront zip codes

Investment Metrics

4.5%–5.5% (typical for SFR rentals)
Cap Rates
~6% gross yield (median rent/median price)
Rental Yields
~16–18
Price-to-Rent
Positive for well-priced rentals
Cash Flow
3–5% annually (next 2–3 years)
Appreciation

Buyer Journey Insights

First-Time Buyers

Strong competition; need pre-approval and flexibility

Move-Up Buyers

Can leverage equity; limited inventory in higher price bands

Downsizers

Townhomes/condos available but limited

Investors

Attractive for rentals; focus on well-maintained properties

Relocators

Appealing due to schools, amenities, and access to bases

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

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