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We left Va. Beach last summer...military hubby...but have lived there on and off for 18 years. I love the area and would move back in a heartbeat. Others on the area though....traffic is lousy, but don't know that you would think it's any worse than where you are. The morning/evening commute between Va. Beach and Norfolk (providing things are moving decently) is about 30 minutes. Some of the local roads can get pretty heavily bogged down at busy times of the day.
Crime..... Don't know what it's like in Chicago, but can tell you that after leaving the area for Memphis, Va. Beach/Norfolk seems tame! As long as you are careful to stay out of the rougher areas, you should be fine. We kept the alarm on at night, and even with a hubby who was frequently away, I felt comfortable.
Wish I could provide you some info on rentals, but we always owned when we lived there. I do know that the market went crazy about 2-3 years ago, but think things have mellowed just a little bit now. We had a 5 bedroom/3 bath in a fairly nice, but not extravagant neighborhood. After living there 4 years and selling, we saw a $225K profit. My guess is that you could expect to pay anywhere from $1000-1500 for an apt./condo in a nice area. But again, not sure as we haven't rented.
Schools are mostly good. Again, stay away from the less desirable areas. Having left, realize what we had now. Smaller elem. school w/ lots of parental involvement and high test scores. Med. size middle school still w/ a fair amt. of parental involvement, lots of extra-curricular, and lots of options for electives.
Hope this helps!
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