Philadelphia - PA vs Virginia Beach - VA: 2026 Housing Comparison

What this means for buyers

Philadelphia - PA is roughly 4% more expensive than Virginia Beach - VA in typical home value. Homes sit on market longer in Virginia Beach - VA (30 days vs 15), suggesting more buyer leverage there.

Philadelphia vs Virginia Beach: what the numbers say

At today's 7.24% average 30-year rate with 20% down, the typical home would cost about $2,105 a month in principal and interest in Philadelphia and $2,024 in Virginia Beach, a gap of $81 a month.

Typical rent runs $1,903 in Philadelphia and $1,886 in Virginia Beach, so the mortgage payment alone is 1.1 times rent in Philadelphia and 1.1 times rent in Virginia Beach, before taxes and insurance.

Home prices are 16.9 years of rent in Philadelphia and 16.4 in Virginia Beach; the lower ratio in Virginia Beach means buying there is cheaper relative to renting.

Over the last 23 months typical values moved +5.4% in Philadelphia and +4.3% in Virginia Beach; over just the last three months the change was +0.7% in Philadelphia and +0.9% in Virginia Beach.

Homes sell for 100.1% of list price in Philadelphia and 99.8% in Virginia Beach, after 15 and 30 days on the market, with price cuts on 26% and 26% of listings. The signs are mixed: Philadelphia has more price cuts, while Virginia Beach has longer time on the market and sales further below list.

The number of homes for sale is up 9% on a year ago in Philadelphia and up 6% on a year ago in Virginia Beach.

Payments assume a 30-year fixed loan at the Freddie Mac weekly average rate (2026-10-29), 20% down, principal and interest only. Home values, rents and market figures are Zillow Research metro data.