Virginia

At a glance (2023)

• Cost of living: 101 (1% above the U.S. average)
• Median home value: $360,700 (national: $303,400)
• Home prices, 5 years: +44.6% over the 5 years to 2023
• Monthly rent: $1,514 (national: $1,348)
• Homeownership: 67% (national: 65%)
• Unemployment: 2.7% (national: 3.6%)
• Household income: $90,974 (national: $78,538)
• Median age: 38.8 yrs (national: 38.7)

The cost of living runs about 1% above the national average. The median home is valued at $360,700 (nominal). Home prices have risen about 45% over the five years to 2023. Median rent is about $1,514 a month. Unemployment averaged 2.7% in 2023 (national 3.6%). Median household income is $90,974. These figures describe all residents, not just tax filers, come from separate sources than the migration data on this page, and do not indicate why anyone moved.

Migration summary, 2022–2023

Between the 2022 and 2023 filing years, Virginia saw a net gain of 458 tax-filing households and a net gain of 1,290 individuals. Against a population of about 8,715,698, that is a net inflow of about 0.1 per 1,000 residents. On net, the area lost $934.9M in associated adjusted gross income (AGI, nominal dollars). The largest inflow, about 15,079 households, came from Maryland; the largest outflow, about 15,148 households, went to North Carolina. In the prior (2022) filing year, the area saw a net loss of 4,493 individuals. These figures cover federal income tax filers only and do not indicate why people moved.

• Net income (AGI): $934.9M nominal dollars
• Net households: +458 tax returns
• Net people: +1,290 exemptions
• +0.1 net people per 1,000 residents (population 8,715,698)
• Income (AGI) moved in: $11.7B
• Income (AGI) moved out: $12.6B
• Net: -$934.9M (nominal)

Top origin states

1. Maryland: 15,079 households, $1.3B
2. North Carolina: 12,599 households, $866.9M
3. Florida: 12,414 households, $1B
4. California: 9,309 households, $879.2M
5. New York: 8,124 households, $647.3M
6. Texas: 7,641 households, $652.4M
7. District of Columbia: 6,502 households, $872.8M
8. Pennsylvania: 6,486 households, $493.8M
9. Georgia: 4,876 households, $340.3M
10. New Jersey: 4,296 households, $368.6M

Top destination states

1. North Carolina: 15,148 households, $1.2B
2. Florida: 14,194 households, $1.7B
3. Maryland: 13,353 households, $1.2B
4. Texas: 9,124 households, $829.3M
5. California: 8,264 households, $763.3M
6. New York: 6,504 households, $520.8M
7. Pennsylvania: 5,558 households, $458M
8. District of Columbia: 5,130 households, $529.6M
9. Georgia: 5,099 households, $400.8M
10. South Carolina: 4,896 households, $506.3M

Churn by state (both directions at once)

The biggest two-way exchanges of filing households, 2022–2023. Moved in and moved out are gross one-way counts; net is the difference. Income is nominal AGI. A dash means the IRS published only one direction of that exchange (small flows are suppressed), so no net is computed.

• Maryland: 15,079 in, 13,353 out, net +1,726, +$78.5M
• North Carolina: 12,599 in, 15,148 out, net -2,549, -$336.6M
• Florida: 12,414 in, 14,194 out, net -1,780, -$669.4M
• California: 9,309 in, 8,264 out, net +1,045, +$115.9M
• Texas: 7,641 in, 9,124 out, net -1,483, -$176.9M
• New York: 8,124 in, 6,504 out, net +1,620, +$126.5M
• Pennsylvania: 6,486 in, 5,558 out, net +928, +$35.8M
• District of Columbia: 6,502 in, 5,130 out, net +1,372, +$343.2M
• Georgia: 4,876 in, 5,099 out, net -223, -$60.5M
• South Carolina: 3,717 in, 4,896 out, net -1,179, -$251.9M
• Tennessee: 3,637 in, 4,371 out, net -734, -$102.9M
• New Jersey: 4,296 in, 2,636 out, net +1,660, +$129M

Net migration by year

Net 2012–2023: -$15.2B (-95,349 people)

Net AGI and net people by year (nominal dollars)

• 2012: -$647.3M, +3,176 people
• 2013: -$962.6M, -5,390 people
• 2014: -$1.3B, -25,561 people
• 2015: -$509.5M, +427 people
• 2016: -$1.6B, -17,474 people
• 2017: -$1.9B, -22,596 people
• 2018: -$1.3B, -6,466 people
• 2019: -$1.2B, -3,686 people
• 2020: -$1.1B, -7,352 people
• 2021: -$1.8B, -7,224 people
• 2022: -$2.1B, -4,493 people
• 2023: -$934.9M, +1,290 people

Migration in context

In the 2022–2023 filing year, about 1,290 more people moved into Virginia than left (counting tax filers and their dependents) — a net loss of about $934.9M in income (nominal) — in a state of 8,732,034 people.

• Population: 8,732,034 (Census 2023 estimate)
• Net migration rate: +0.1 net people per 1,000 residents (a town of 10,000 would net about +1 people)
• Net income per resident: −$107 nominal dollars (≈ -$934.9M total across 8,732,034 residents)

The rate lets you compare Virginia with a state of any size: it's the net flow divided by population. The IRS counts tax filers; population counts all residents, so read the rate as a scale indicator, not a literal share of people.

Components of population change 2023 (Census)

Where the state's overall change came from. Census counts all residents; the IRS migration above is one slice of the domestic-migration component.

• Births: +94,600
• Deaths: 79,649
• Net domestic migration: 8,117
• Net international migration: +44,282
• Total change: +50,996

Income & cost of living

Prices around Virginia run about 1% above the national average. In plain terms: $100 spent here buys about what $99 buys in the average American community. The figures below apply that to income, each compared to the U.S. average of $70,002 per person.

• Income per person: $73,890 (BEA 2023, nominal) — 6% above the U.S. average
• Price level: 101.3 (100 = U.S. average prices, BEA price parity) — everyday costs about 1.3% higher than average
• What that income buys: $72,919 local income restated at U.S.-average prices — 4% above the U.S. average

Where the cost comes from: price parity by category

Index where 100 = U.S. average for that category. Housing is usually what separates one place from another.

• Housing & rents: 105.6
• Goods: 101.1
• Utilities: 92.4
• Other services: 100.6

Housing is measured from rents (including an estimated rental value for owner-occupied homes), so a run-up in purchase prices shows here only as it reaches rents.

Who lives here

The people of Virginia — American Community Survey, 2019–2023 (a 5-year average of all residents, not just tax filers).

• Median age: 38.8 years
• Median household income: $90,974 per household (ACS 2019–2023, nominal) — 16% above the U.S. median
• College degree: 41% adults 25+ with a bachelor's or higher
• Poverty rate: 9.9% residents below the poverty line
• Average commute: 28 min mean travel time to work
• Broadband at home: 90% households with any broadband

Race and ethnicity (share of residents): White 59%, Hispanic 11%, Black 18%, Asian 7%, Other 5%. White, Black, and Asian counts are people who are not Hispanic or Latino; Hispanic or Latino can be of any race. Shares are rounded and may not total 100.

Housing: what it costs to live here (ACS 2019–2023)

• Median home value: $360,700 owner-occupied homes — 19% above the U.S. median
• Median rent: $1,514 gross rent per month — 12% above the U.S. median
• Homeownership: 67% of occupied homes are owner-occupied

Home-price appreciation (FHFA index, 2023):

• Past year: +7.8% price change, 2022 to 2023
• Past 5 years: +45% price change, 2018 to 2023

A repeat-sales index (how much the same homes changed in price), so it tracks the market over time rather than the current level.

New home construction (building permits, 2023): 36,096 new housing units authorized in 2023. Single-family 59%, Multifamily 41%. Units authorized by residential building permits (new supply), summed from counties for the state and U.S. Permits are authorizations, not completions.

Home value is what owners estimate their homes are worth, not recent sale prices.

Local economy & risk

• Unemployment rate: 2.7% (BLS 2023 annual average)
• Labor force: 4,544,986 (4,422,328 employed)
• Disaster declarations — major federal, 2023

Unemployment now

3.6% (May 2026) ▲ 0.3 points vs May 2025. Source: U.S. Bureau of Labor Statistics (LAUS). Monthly unemployment for this state, not seasonally adjusted. Updated every month, so it moves faster than the annual average above.

Who's moving by income

Net migration by income bracket — tax-filing households that moved into Virginia minus those that left, by the adjusted gross income they reported, 2022–2023. Positive means more arrived than left at that income level.

• $1–$10k: +603 (In 10,282, Out 9,679, +$3.1M AGI)
• $10k–$25k: +1,411 (In 22,276, Out 20,865, +$23.9M AGI)
• $25k–$50k: +2,263 (In 34,966, Out 32,703, +$83.3M AGI)
• $50k–$75k: +622 (In 22,582, Out 21,960, +$36.6M AGI)
• $75k–$100k: -261 (In 14,936, Out 15,197, -$24.6M AGI)
• $100k–$200k: -2,416 (In 23,851, Out 26,267, -$355.9M AGI)
• $200k+: -1,676 (In 10,491, Out 12,167, -$706.3M AGI)

Among the highest earners ($200k+), Virginia ranks #41 of 51 states for net household migration (-1,676).

Goods trade

Physical goods shipped between Virginia and other states, 2022. This is freight, not the migration of people or income shown above.

• Ships to other states: $180.2B (+30% since 2017)
• Receives from states: $228.6B (+27% since 2017)
• Net balance: $48.5B

Top goods shipped out:

• Mixed freight: $29.8B
• Electronic and other electrical equipment and components, and office equipment: $25.5B
• Pharmaceutical products: $22.4B
• Other prepared foodstuffs and fats and oils: $19.0B
• Textiles, leather, and articles of textiles or leather: $16.7B
• Motorized and other vehicles (includes parts): $16.0B

Top goods received:

• Mixed freight: $33.5B
• Electronic and other electrical equipment and components, and office equipment: $31.7B
• Machinery: $15.9B
• Motorized and other vehicles (includes parts): $14.6B
• Plastics and rubber: $13.4B
• Textiles, leather, and articles of textiles or leather: $12.8B

Biggest trading partners (both ways) — Goods trade runs in both directions: states swap different goods, so a partner is often near the top of both columns. Net is ships minus receives (positive means Virginia ships more to that partner than it gets back).

• North Carolina: Ships to $22.3B, Receives $27.3B, Net -$4.9B, Total $49.6B
• Maryland: Ships to $22.5B, Receives $25.5B, Net -$3.0B, Total $47.9B
• Pennsylvania: Ships to $13.0B, Receives $18.8B, Net -$5.8B, Total $31.8B
• California: Ships to $8.8B, Receives $13.1B, Net -$4.4B, Total $21.9B
• Ohio: Ships to $8.5B, Receives $11.0B, Net -$2.5B, Total $19.5B
• New Jersey: Ships to $7.1B, Receives $10.8B, Net -$3.7B, Total $18.0B
• Georgia: Ships to $9.8B, Receives $7.3B, Net +$2.6B, Total $17.1B
• Illinois: Ships to $7.0B, Receives $10.0B, Net -$3.0B, Total $17.0B