HomeMy WebLinkAboutVirginia Beach by the NumbersVirginia Beach by the Numbers
Population, Workforce, and Economic Trends
Michael Evans, Director of Business Intelligence
Hampton Roads Alliance
Connecting the Dots
1. Slow Growth + Aging Population → Workforce Pressure
•Flat growth and fewer prime working-age residents shrink the local talent pool.
•High housing costs push younger workers and families to other localities.
2. Housing Costs as a Common Constraint
•Rising home prices and rents affect migration patterns, labor force size, and school enrollment.
•Affordability is key to retaining both young professionals and retiring veterans.
3. Economic Strengths Mask Gaps
•High median income, but many top occupations pay far below the cost of living.
•ALICE households highlight under-the-surface financial strain.
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Connecting the Dots
4. Migration Patterns Reflect Competitiveness
•Losing residents to rural areas in the region shows the pull of affordability.
•International migration offsets domestic losses, but benefits aren’t evenly distributed.
5. Education Demand Is Changing Without Enrollment Growth
•Enrollment is flat, but student needs are more complex specialized education, English language learners, and
gifted programs.
•Rising needs mirror broader demographic shifts.
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1.Strengthen Housing Affordability as an
Economic Strategy
2.Target Talent Retention and Attraction
3.Diversify Job Growth into Mid- to High-
Wage Sectors
4.Plan Regionally for Mobility and Quality
of Life
5.Adapt Services for a Changing
Population
Key Considerations:
VB by the Numbers
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