• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

Virginia Beach Real Estate- Median Income Facts

va beachHere is a surprising fact. Forbes Magazine looked at the 2004 US Census and came up with a list of cities with the highest median income.  You would think that LA, New York City would definitely be on the list of the top 10. Not so.

Surprisingly our own VA Beach was ranked 4th on the list.

Median income is the level at which half of the households make more and half less.

 San Francisco and Washington, D.C., are in the top 10 as well although New York, Boston and Miami are nowhere to be seen in the top ten. California cities make up 40% of the rankings, and the rest is made up by some surprising locales, including Anchorage, Raleigh, N.C., and Virginia Beach, Va. While pleasant places, they aren’t generally thought of as homes for the rich and famous.

What gives? A combination of local economic strength, geographical quirks and the limitations of the analysis, which measures the middle of the income distribution, rather than the extremes.

Newer cities also have higher median incomes than more established places, like Boston or Chicago, because they are growing and have people moving in rather than out. Look just outside the city of Philadelphia (which also did not make the top ten), for example, and you will see an abundance of wealthy suburbs.

Virginia Beach is also helped by its strong military economic base. Military areas tend to have less-extreme income distributions (a reason San Diego makes the list as well), and retirees in the area tend to have comfortable military pensions.

 

Rank

City

State

Median Household Income

Median Home Price

1

San Jose

California

$71,765

$625,000

2

Anchorage

Alaska

$61,595

$294,374

3

San Francisco

California

$60,031

$726,900

4

Virginia Beach

Virginia

$55,781

$192,000

5

San Diego

California

$51,382

$605,600

6

Anaheim

California

$49,622

$696,100

7

Raleigh

North Carolina

$47,878

$185,200

8

Seattle

Washington

$46,650

$310,300

9

Washington

District of Columbia

$46,574

$429,900

10

Honolulu

Hawaii

$46,500

 

Click here to search all homes, town homes, condos, building lots, 55+ communities, golf course communities both new and resale for sale in Va Beach , Virginia

Flood Zones in Hampton Roads Virginia

Question: I am thinking of purchasing a home in Hampton Roads, Virginia. I know that that are certain areas in Hampton, James City County, Norfolk, Chesapeake, Poquoson, York County and other nearby areas  are prone to flooding. How can I find out if a home I am interested in is in a flood zone ? How can I find out how much flood insurance will cost ? What are flood zones?


Flood zones are land areas identified by the Federal Emergency Management Agency (FEMA). Each flood zone describes that land area in terms of its risk of flooding. Everyone lives in a flood zone—it’s just a question of whether you live in a low, moderate, or high risk area.

How do I find out whether or not a property is at risk of flooding, and if it is, at what level?
Go to the website http://www.floodsmart.gov and fill out the Flood Risk Profile on the left hand site of the site.

 What is a Special Flood Hazard Area (SFHA)?
Land areas that are at high risk for flooding are called Special Flood Hazard Areas (SFHAs), or floodplains. These areas are indicated on Flood Insurance Rate Maps (FIRMs).

A home located within an SFHA has a 26 percent chance of suffering flood damage during the term of a 30-year mortgage.

What is a Non-Special Flood Hazard Area (NSFHA)?
A Non-Special Flood Hazard Area (NSFHA) is an area that is in a low-to-moderate risk flood zone (Zones B, C, X Pre- and Post-FIRM). An NSFHA is not in any immediate danger from flooding caused by overflowing rivers or hard rains.

However, it’s important to note that structures within a NSFHA are still at risk. In fact, one out of four floods occurs in an NSFHA! Get the facts before you decide that your property is not at risk.

Is there a special risk-rating procedure for coastal high hazard areas (V zones)?
Yes. When calculating the risk of a V zone property, the formula takes into account the ability of the building to withstand the impact of wave action.