Median Household Income


Average Household Income

About Virginia Beach

The most populous city in the Commonwealth of Virginia and the 39th largest city in the U.S., Virginia Beach is recognized worldwide as one of the best places to live, work and succeed. It’s home to nearly 450,000 people who form a dynamic community with an educated, tech-savvy workforce, a robust economy, a diverse mix of industry and low tax rates. 24/7 Wall Street names it one of America’s “50 Best Cities to Live.”

Virginia Beach benefits from its oceanfront location, natural resources, pro-business environment and strategic urban planning.

  • Population: 447,215
  • Households: 170,125
  • Median Household Income: $62,998
  • Average Household Income: $81,713
  • There are a combined total of 3 million people within the Hampton Roads and Richmond DMAs.
  • Virginia Beach MSA is the largest between DC and Charlotte.

The cost of doing business here is well below the national average, thanks in large part to low City and state tax rates and competitive wages. The transportation infrastructure provides access to more than two-thirds of the U.S. population within a two-day drive.

Biomedicine and Life Sciences in Virginia Beach

Innovation + Collaboration

Virginia is home to more than 600 biomedical and life science companies. Of these, many are located in Virginia Beach and more than 20,000 people are employed in the healthcare field. Companies and entrepreneurs have access to a variety of state and local incentive programs as well as private capital.

This biomedical and life sciences cluster is enhanced by direct access to resources like Eastern Virginia Medical School, Sentara Health, Bon Secours Health System, Children’s Hospital of The Kings’ Daughters, LifeNet Health and its Center for Regenerative Medicine, and the global headquarters of Operation Smile.

The industry also benefits from the support of a variety of research and academic institutions like NASA Langley Research Center, Thomas Jefferson National Accelerator Facility, Old Dominion University, Hampton University, and Tidewater Community College.

Focus areas for biomedical and life sciences activities include diabetes, reproductive health, regenerative medicine, cardiology, urology, cancer, piezo-electrics, and photon therapies.

The bioscience industry is one of the most important industries powering economic growth in the United States and is responsible for creating more than 5,000 new jobs and $1.9 billion in biomedical and life science-related capital investment in Virginia in the past decade alone.