23454, Virginia Beach, VA

The 23454 zip code of Virginia Beach, VA is located in the southeastern portion of the state and includes a population of approximately 231,000. The median household income in this zip code is $77,821 and the median home value is $217,500. Home equity in this zip code has increased significantly over the past several years and currently stands at $269,000.

The primary reason for this increase in home equity is likely due to strong economic conditions and low interest rates. Additionally, many homeowners have taken advantage of low mortgage rates to refinance their homes multiple times over the past few years. This has resulted in a significant increase in home values across all sectors of the market.

Despite these positive trends, there are still some areas within this zip code that are experiencing slower growth in home values. These areas include sections near the city center and around military bases. Additionally, prices tend to be higher on the eastern side of town compared to those on the western side. This may be due to limited land availability on the western side or higher demand from buyers who live closer to major employment centers such as Norfolk or Virginia Beach International Airport.