Virginia Beach is made up of seven boroughs and located along the shores of the Chesapeake Bay and the Atlantic Ocean. In addition to its miles of beaches, it features several state parks, two universities and three military bases.
Several areas have been experiencing higher rents as demand for apartments has increased. Here are five Virginia Beach areas in which rent for one-bedroom apartments has been rising over the past year.
- Price increase over the past year: 2.76 percent
- Average rent for one-bedroom in Holland: $1,249
It might be called Mount Trashmore by locals but Mount Trashmore Park is anything but. A city park located within Holland, it’s 165 acres of fun. Two man-made mountains, two lakes, two playgrounds and a skate park are part of the space. Holland is primarily residential, complete with curvy tree-lined streets.
Rental rates have increased by almost 3 percent in this neighborhood, raising the rent to about $1,249 per month.
Fun Fact: Holland Road, which runs through this neighborhood, used to carry 17,000 cars in 2003. It was upgraded to meet the needs of the city and projected volume in 2018 was expected to double to approximately 36,800 vehicles a day.
- Price increase over the past year: 2.78 percent
- Average rent for one-bedroom in Lynnhaven: $1,075
West Neck Creek traverses through Lynnhaven and residents love having a major shopping mall within its borders. Located just seven miles from the beach, the Lynnhaven Mall includes a theater, major department stores and even a trampoline park within its more than a million square feet. It’s one of the largest malls on the East Coast.
Rent has been increasing in Lynnhaven. In the past year alone, rent for a one-bedroom has risen by nearly 3 percent to $1,075 per month.
Fun fact: West Neck Creek is a wooded 217-acre site and includes 2.5 miles of soft path and .3 miles of paved ADA-compliant trails for visitors to enjoy.
3. Little Neck
- Price increase over the past year: 2.88 percent
- Average rent for one-bedroom in Little Neck: $1,083
More an area than a neighborhood, Little Neck has just one road in and out of it, giving it an air of exclusivity. Within the area is the popular Little Neck Swim and Racquet Club, a member-owned community swimming pool and tennis facility.
Rents have increased by almost 3 percent since last year, bringing a one-bedroom to approximately $1,083 per month.
Fun tip: Kingston Elementary, located within Little Neck, opened its doors in 1965 as a 29-classroom school.
2. Great Neck
- Price increase over the past year: 9.13 percent
- Average rent for one-bedroom in Great Neck: $966
A peninsula in the middle of the northern half of Virginia Beach, Great Neck is near the Chesapeake Bay, the Atlantic beaches, major transportation and plenty of eating establishments and grocery stores.
The area has a number of different neighborhoods, like its neighboring area Little Neck. Those seeking more established neighborhoods with mature trees will find themselves right at home since many of these neighborhoods can be found right off the main
thoroughfares. Many families gather at the nearby neighborhood parks and pools to catch-up and let their kids play.
A one-bedroom can be had for $966 in Great Neck, an increase of more than 9 percent from last year.
Fun Fact: Particularly popular for photo shoots and exploration alike is Great Neck Park, a 70-acre district park complete with a gazebo, charcoal grills and 11 miles of trails.
- Price increase over the past year: 12.31 percent
- Average rent for one-bedroom in Bayside: $1,086
One of the original seven boroughs within Virginia Beach, Bayside has a suburban feel even though it’s in an urban environment and near the beach. Local restaurants featuring everything from American to Japanese, coffee shops and recreational entertainment can be found in this community.
A one-bedroom can be had for $1,086 in Bayside, more than 12 percent higher than last year.
Fun Fact: The Cypress Point Country Club features an 18-hole championship golf course designed by Thomas Clark.
We looked at all neighborhoods in Virginia Beach with sufficient available inventory on Apartment Guide and Rent.com and compared the average price from October 2018 to October 2019 to find the neighborhoods with the highest percentage increase in one-bedroom rent prices.
The current rent information included in this article is based on October 2019 multifamily rental property inventory on Apartment Guide and Rent.com and is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.