Virginia Beach Virginia Income Charts

This section shows the Virginia Beach Virginia economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Virginia Beach shows it has a Median earnings of $54,174 which is in the center range of other places in the local area. The city with the highest median earnings per worker in the area is Moyock CDP which indicates a median earnings of $66,455 (22.7% larger). Comparing median earnings per worker to the United States average of $53,269, Virginia Beach is only slightly larger. Also, compared with the state of Virginia, median earnings per worker of $58,638, Virginia Beach is about 8.2% smaller.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $81,810 which is in the mid range of other places in the local area. The city with the highest median household income in the area is Poquoson which depicts a median income of $112,026 (36.9% larger). Comparing median household income to the United States average of $69,021, Virginia Beach is 18.5% larger. Also, benchmarked against the state of Virginia, median household income of $80,615, Virginia Beach is only slightly larger.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.9 which is the third most average hours of all other places in the greater Virginia Beach region. The city with the highest average hours in the area is Moyock CDP which depicts an average hours of 42.0 (only about 5.3% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $26.11 which is in the mid range of other places in the metropolitan area. The city with the highest average hourly earnings in the area is Poquoson which depicts an average hourly earnings of $31.65 (21.2% larger). Comparing average hourly earnings to the United States average of $26.40, Virginia Beach is about the same size. Also, in contrast to the state of Virginia, average hourly earnings of $28.84, Virginia Beach is about 10.5% smaller.

Figure 7 examines the number of self employed people in the Virginia Beach metro area based on the number of people who reported any self employment income. Virginia Beach shows it has a Self Employed of 9.5% which is the third most of all other places in the metro area. The city with the highest percentage of people self employed in the area is Moyock CDP which depicts a percentage self employed of 23.3% (approximately 2.4 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the mid point range of other places in the area at $81,911 of the total. Second, it has in the mid range of other places in the local area when ranked by median income-25 to 44 years at $100,149 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $66,951 of the total and is ranked #2. The only larger city being Poquoson with $80,330.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 28.0% which is the third most households with retirement income of all other places in the greater Virginia Beach region. The city with the highest households with retirement income in the area is Poquoson which depicts a households with retirement income of 34.3% (22.7% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the percentage of overall family income in the intermediate range of other places in the local area at $104,264 of the total. Second, it has one of the largest proportions of white family income at $74,662 of the total and is ranked #3. Only #2 Chesapeake ($74,952), and #1 Moyock CDP ($133,393) are larger. Third, it has one of the largest proportions of black family income at $57,500 of the total and is ranked #3. Only #2 Hampton ($62,125), and #1 Portsmouth ($118,203) are larger. Also, it has one of the largest proportions of american indian family income at $95,585 of the total and is ranked #3. Only #2 Chesapeake ($110,505), and #1 Poquoson ($184,306) are larger. In addition, it has the largest proportion of asian family income at $133,750 of the total and is ranked #1. Furthermore, it has one of the largest proportions of hawaiian family income at $79,260 of the total and is ranked #2. The only larger city being Chesapeake with $82,073.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Virginia Beach depicts it has the hightest cost of 121.7 for the cost of housing classification.

Virginia Beach Virginia Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from February 2010 to before the disasterous Covid-19 virus Pandemic the monthly unemployment rate went from 9.8% to 3.5% in February 2020. This represents a decrease in the monthly unemployment rate of 64.3%. Since that time, the monthly unemployment rate has gone to 3.7% This represents an increase in the monthly unemployment rate of 5.7%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It depicts that from February 2010 to before the disasterous Covid-19 virus Pandemic the monthly labor force participation went from 223,291 to 235,259 in March 2020. This represents an increase in the monthly labor force participation of 5.4%. Since that time, the monthly labor force participation has gone to 229,261 This represents a decrease in the monthly labor force participation of 2.5%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Virginia Beach depicts it has a Unemployment Rate of 2.8% which is less than most other places in the area. The city with the highest unemployment rate in the area is Norfolk which shows a rate of 4.0% (44.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Virginia Beach shows it has a Labor Force Participation of 70.3% which is the third most participation rates of all other places in the greater Virginia Beach region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Virginia Beach shows full time employees approximately 4.2 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Virginia Beach area. Virginia Beach shows it has a Single Earner Families of 28.7% which is in the center range of other places in the local area. The city with the highest families with a single earner in the area is Norfolk which shows a single earners rate of 31.2% (8.7% larger). The percentage of families with no one working is depicted in Figure 22. Virginia Beach depicts it has a Families with No One Working of 13.0% which is in the center range of other places in the local area. The city with the highest families with no one working in the area is Poquoson which depicts a families with no worker of 18.9% (45.5% larger).

Virginia Beach Virginia Poverty Charts

The next section details economy analysis about poverty for residents of the Virginia Beach community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Virginia Beach depicts it has a Total In Poverty of 34,987 which is the second most of all the places in the local area. The city with the highest total people earning less than the poverty level in the area is Norfolk which depicts a total people earning less than the poverty level of 36,988 (only about 5.7% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Virginia Beach depicts it has a Percent of Population In Poverty of 7.8% which is less than most other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Norfolk which depicts a percent of people in poverty of 17.4% (approximately 2.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Virginia Beach has the largest proportion of person in poverty 18 to 34 years at 22% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Virginia Beach has one of the largest proportions of black poverty rate at 18% of the total and is ranked #2. The only larger city being Norfolk with 27%.

Figure 27 shows key poverty statistics for groups based on marriage status. Virginia Beach has the percentage of unmarried female with children and in poverty less than most other places in the greater region at 3% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Virginia Beach shows it has a Public Assistance Percent of 6.4% which is less than most other places in the local area. The city with the highest households with public assistance in the area is Portsmouth which shows a households with public assistance of 16.2% (approximately 2.5 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Virginia Beach depicts it has a Gini Index of 42.8% which is in the mid point range of other places in the metro area.

Virginia Beach Virginia Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Virginia Beach has the smallest proportion of people who leave for work between 12am to 5am at 4% of the total. Second, it has the largest proportion of people who leave for work between 730 am to 8am at 12% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 8am to 830am at 6% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Virginia Beach has the percentage of people with commute time of less than 5 minutesutes less than most other places in the local area at 8% of the total.

The average commute time is shown in Figure 37. Virginia Beach depicts it has a Avg Commute Time of 24 which is in the mid point range of other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Virginia Beach shows average commute time in minutes for men 40.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Virginia Beach has the largest proportion of 1 vehicle available at 44% of the total and is ranked #1. Second, it has less than most other places in the greater region in terms of 4 vehicles available at 4% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Virginia Beach depicts it has a Work in city or place where live of 66% which is the second most of all the places in the metro area. The city with the highest people who both work and live in the same city in the area is Norfolk which shows a people who both work and live in the same city of 67% ( only slightly larger). Comparing people who both work and live in the same city to the United States average of 44%, Virginia Beach is 50.1% larger. Also, measured against the state of Virginia, people who both work and live in the same city of 38%, Virginia Beach is 72.5% larger.

Virginia Beach Virginia Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Virginia Beach shows it has the hightest median earnings of $89,446 for the earnings-healthcare practitioners and tech occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Virginia Beach shows it has the hightest median earnings of $75,729 for the earnings-computer, engineering, and science occupations classification. The table in Figure 48, shows Virginia Beach employment data in terms of job categories and salary data.

Virginia Beach Virginia Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Virginia Beach shows it has the hightest entrepreneurs of 42% for the self employed management, business, science, and arts businesses grouping.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Virginia Beach shows it has the hightest entrepreneurs of 24% for the self employed in professional, scientific, management, administrative services aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Virginia Beach depicts it has a Self Employment Income of $35,537 which is less than most other places in the surrounding region. The city with the highest average annual self employment income in the area is Moyock CDP which depicts an average annual self employment income of $69,753 (about twice as large). Comparing average annual self employment income to the United States average of $42,141, Virginia Beach is about 18.6% smaller. Also, in contrast to the state of Virginia, average annual self employment income of $41,688, Virginia Beach is about 17.3% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Virginia Beach depicts total number of self-employed men 32.2% larger as the total number of self-employed women.