U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Hampton Roads area
 [Register]
Hampton Roads area Chesapeake - Hampton - Newport News - Norfolk - Portsmouth - Suffolk - Virginia Beach
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-12-2009, 09:14 AM
 
Location: Virginia Beach, VA
2,124 posts, read 8,379,438 times
Reputation: 816

Advertisements

With all the bashing of the area, I thought I would share a light!! US News And World Reports Names Virginia Beach as the top spot to grow up. Check out the article here:

America's 10 Best Places to Grow Up - US News and World Report

Shelly
Rate this post positively Reply With Quote Quick reply to this message

 
Old 09-12-2009, 09:18 AM
 
32,549 posts, read 38,758,101 times
Reputation: 45315
Very cool! I agree VB is a terrific place to raise a family! And that site that the article mentions - vbparents.com - it's up. I checked it out yesterday.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-14-2009, 07:12 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,578,975 times
Reputation: 2552
Now if only the median family income could afford the median house price.....
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-14-2009, 09:38 AM
 
Location: Va Beach
3,506 posts, read 12,709,073 times
Reputation: 1025
https://edis.commerce.state.nc.us/do...e/VA/51810.pdf
doesn't look too shabby to me. maybe some just need to curb their spending to afford the median house price.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-14-2009, 10:04 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,578,975 times
Reputation: 2552
Quote:
Originally Posted by Erma View Post
https://edis.commerce.state.nc.us/do...e/VA/51810.pdf
doesn't look too shabby to me. maybe some just need to curb their spending to afford the median house price.
Median 2008 house price- $243,473
Median household income- $63,389

Affordale housing is defined by HUD as housing that costs less then 30% of a homeowners gross income

Affordable Housing - CPD - HUD

So, what percent of a family with the Virginia Beach median be spending?

Well, at 5% interest on a 30 year loan, we find the payment is about $1307 a month. This is exactly 25% of the monthly gross income.

Oh wait, guess what, we havent included taxes, utility costs, or insurance cost. So lets go ahead and slap another $500 on top of that conservatively.

So, the median homeowner in Virginia Beach spends about $1,807 on housing a month, conservatively. That is about 34% of the median household income.

So what income would it take for this to be afforable you ask?

About $73,500 Which is about 5000 a year more then the median family income, and about 10k more a year then the median houshold income.

The median household price is higher then the median household income can afford, period, as defined by HUD. How it "looks" to you is completely irrelavent.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-14-2009, 09:12 PM
 
32,549 posts, read 38,758,101 times
Reputation: 45315
Quote:
Originally Posted by Randomdude View Post
Median 2008 house price- $243,473
Median household income- $63,389

Affordale housing is defined by HUD as housing that costs less then 30% of a homeowners gross income

Affordable Housing - CPD - HUD

So, what percent of a family with the Virginia Beach median be spending?

Well, at 5% interest on a 30 year loan, we find the payment is about $1307 a month. This is exactly 25% of the monthly gross income.

Oh wait, guess what, we havent included taxes, utility costs, or insurance cost. So lets go ahead and slap another $500 on top of that conservatively.

So, the median homeowner in Virginia Beach spends about $1,807 on housing a month, conservatively. That is about 34% of the median household income.

So what income would it take for this to be afforable you ask?

About $73,500 Which is about 5000 a year more then the median family income, and about 10k more a year then the median houshold income.

The median household price is higher then the median household income can afford, period, as defined by HUD. How it "looks" to you is completely irrelavent.
Ya know what? That is the case most places. The houses are STILL overpriced, and there are very few places that do not have the same situation. I bought my house 11 years ago. I make just above the median income, and my mortgage is far FAR less than the amount above. I'm doing just fine. I love it here.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-14-2009, 09:18 PM
 
Location: Virginia Beach/Norfolk.
1,555 posts, read 4,046,628 times
Reputation: 433
You guys always complain.. It's really a bore. Virginia Beach is an awesome place to grow up. Why can't it be left at that? Ask anybody how they liked growing up in VaBeach and they all loved it. WTF does growing up in a city have to do with salaries and price of houses and all that nonsense? Every city is dealing with houses overpriced and salaries not rsing as fast
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-14-2009, 10:05 PM
 
Location: Virginia Beach, VA
127 posts, read 278,510 times
Reputation: 49
My $.002 Virginia beach was a great place for me to grow up I could'nt have asked for a better childhood. I loved my neighborhood and schools and circle of friends, I felt so sheltered within my neighborhood and nothing bad ever happened, and I loved being able to walk from one side of the neighborhood to the next at dark to see a friend when I was 15 and feeling safe! I am now 24, and wanting to move preferably to SoCal but im not bashing va beach at all when I say I want to move its just alot to see and do out there and I want a change, but on topic VB was the greatest place to grow up IMO!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-15-2009, 06:00 AM
 
1,477 posts, read 5,591,315 times
Reputation: 1099
Va Bch was a great place for me to grow up in, my kids loved growing up here also. Even though my kids are grown and gone off on their own I am still active in various high school events and activities (Friday night football games and various band competitions etc) The kids today seem to have as much fun as I did growing up if not more.

I have to agree with cityboi757, what does the price of homes and the median household income have to do with this topic......Nothing.......
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-15-2009, 06:44 AM
 
Location: Virginia Beach, VA
5,517 posts, read 9,578,975 times
Reputation: 2552
Quote:
Originally Posted by ChessieMom View Post
Ya know what? That is the case most places. The houses are STILL overpriced, and there are very few places that do not have the same situation. I bought my house 11 years ago. I make just above the median income, and my mortgage is far FAR less than the amount above. I'm doing just fine. I love it here.

1. That is not the case in "Most" places. Check Atlanta, GA, Indianapolis, IN, Dallas, TX, Houston, TX, Pittsburgh, PA, Raleigh, NC, Providence, RI, Phoenix, AZ, Memphis, TN. Prices in all those cities are FAR more inline with the prevailing income.

2. You bought your house eleven years ago. That is the key. It is the people who were in the housing market the last 5 years that got completely blown out of the affordability equation. For example, my Mom bought the house Im living in for 80k in 2003. The appraised value is now 160k. That is a 100% increase in 6 years. I doubt anyone in the area got a 100% raise over any six year period without a significant promotion.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Hampton Roads area

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top