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State

City

ZIP codes

Norfolk, Virginia

Realtor Sep 2026 · ACS 2024

Market Read

A market with no active rental pool to price against. The sale-side figures below are the whole picture.

Tenant economics are strong. Median household income $67K, +2.7% YoY (ZIP); renters hold 53.7% of ZIP households. See the people evidence ↓

What would change this read: the median listing price is +6.2% YoY. inventory, +6.9% YoY, is the number to watch.

Gross Rental Yield

–

1% rule implies 12%/yr

Rent-to-Price

–

1% rule benchmark: 1.00%/mo

Gross Rent Multiplier

–

Price ÷ annual gross rent

Asking vs Voucher

–

No bedroom size has both a rent sample and a published FMR

Computed from this page's data: median listing $360,910 (Realtor). The listing and rental pools are separate samples, not the same homes priced two ways, so the ratios describe the market rather than any one property. Ratios with reasons, not a recommendation to buy.

19 ZIPs in this city:23501 23502 23503 23504 23505 23507 23508 23509 23510 23511 23513 23514 23515 23517 23518 23523 23529 23541 23551

Median Listing Price

$361K

Population

233,596

94,965

Median Days on Market

Active Listings

631

New Listings

292

Housing Market

The median listing price is up 6.2% YoY while the median home got up 1.8% bigger, so value per square foot is up 2.7%.

Pricing

Median Listing Price

$361K+6.2% YoY

Average Listing Price

$425K+7.1% YoY

Price per Sq Ft

$221.271+2.7% YoY

Median Sq Ft

1,665+1.8% YoY

Inventory

Active Listings

631+7.1% YoY

New Listings

292-2.0% YoY

Total Listings

632+6.9% YoY

Buyer Competition

Pending Listings

2-33.3% YoY

Pending Ratio

0.01-39.8% YoY

Median Days on Market

42+9.5% YoY

Price Reduced

24.0%-18.6% YoY

Units & Occupancy

2024 Occupancy ⓘ

U.S. Census ACS · n = 103,524

104Kunits

Occupied94,96591.7%

Vacant8,5598.3%

2024 Tenure ⓘ

U.S. Census ACS · n = 94,965

95Koccupied

Owner44,00046.3%

Renter50,96553.7%

Renter Share

53.7%-1.2% YoY

Total Housing Units

103,524+1.0% YoY

FY2026 Fair Market Rent

CountyNorfolk city · HUD 40th-percentile estimate, not actual market asking rent

Studio

$1,492

/month

1 BR

$1,512

/month

2 BR

$1,713

/month

3 BR

$2,376

/month

4 BR

$2,797

/month

FMR trends · Norfolk city

HUD Fair Market Rents · FY1983–FY2026

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Renters hold 53.7% of this ZIP's 94,965 occupied households, on a median household income of $67K.

Population & Age

Total Population

233,596-0.6% YoY

2024 Age Mix ⓘ

U.S. Census ACS · n = 233,596

234Kresidents

Under 1847,53620.3%

Adults 18–64155,62066.6%

65 & Over30,44013.0%

Age Composition Over Time

U.S. Census ACS · 2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

33.24+0.4% YoY

Population Under 18

47,536-1.2% YoY

Population 65 & Over

30,440+3.0% YoY

Households & Mobility

Total Households

94,965+0.5% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.26-0.7% YoY

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house80.5%

Moved (within US)18.6%

Other0.8%

Veterans

15.2%-4.1% YoY

Income & Poverty

Median Household Income

$67K+2.7% YoY

Per-Capita Income

$39K+5.4% YoY

Mean Household Income

$92K+4.1% YoY

Below Poverty Level

16.4%-3.3% YoY

Commuting

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone70.5%

Public transit2.7%

Worked from home10.4%

Other16.3%

Worked From Home

10.4%+16.9% YoY

Mean Commute

23.27+0.4% YoY

Units & Tenure

Total Housing Units

103,524+1.0% YoY

2024 Occupancy ⓘ

U.S. Census ACS · n = 103,524

104Kunits

Occupied94,96591.7%

Vacant8,5598.3%

2024 Tenure ⓘ

U.S. Census ACS · n = 94,965

95Khouseholds

Owner44,00046.3%

Renter50,96553.7%

Avg Household Size — Owner

2.42-0.5% YoY

Avg Household Size — Renter

2.12-1.2% YoY

County Demographics

County population is down 0.6% to 233,596: residents under 18 are down 1.2% and those 65 and over are up 3.0%.

Median Age

32.72024

Population

Norfolk city Population

231,105-0.1% YoY

Households

Total Households

94,965+0.5% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.25-0.9% YoY

Age

2024 Age Mix ⓘ

U.S. Census ACS · n = 233,596

234Kresidents

Under 1847,53620.3%

Adults 18–64155,62066.6%

65 & Over30,44013.0%

Age Composition Over Time

U.S. Census ACS · 2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

47,536-1.2% YoY

Population 65 & Over

30,440+3.0% YoY

Median Age

32.70+0.9% YoY

Mobility & Veterans

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house80.5%

Moved (within US)18.6%

Other0.9%

Veterans

14.2%-0.7% YoY

County Economy

County median household income is $66K, 16.5% of residents are below the poverty level, 10.2% work from home.

Income

Median Household Income

$66K+3.3% YoY

Per-Capita Income

$39K+5.4% YoY

Mean Household Income

$92K+4.1% YoY

Poverty

Below Poverty Level

16.5%-4.6% YoY

Transportation to Work

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone70.6%

Public transit2.6%

Worked from home10.2%

Other16.6%

Worked From Home

10.2%+18.6% YoY

Mean Commute

23.00+0.4% YoY

Done with Norfolk? Put it next to another market.

State

City

Compare with

City

State

City

ZIP codes

Norfolk, Virginia

Realtor Sep 2026 · ACS 2024

Market Read

A market with no active rental pool to price against. The sale-side figures below are the whole picture.

Tenant economics are strong. Median household income $67K, +2.7% YoY (ZIP); renters hold 53.7% of ZIP households. See the people evidence ↓

What would change this read: the median listing price is +6.2% YoY. inventory, +6.9% YoY, is the number to watch.

Gross Rental Yield

–

1% rule implies 12%/yr

Rent-to-Price

–

1% rule benchmark: 1.00%/mo

Gross Rent Multiplier

–

Price ÷ annual gross rent

Asking vs Voucher

–

No bedroom size has both a rent sample and a published FMR

19 ZIPs in this city:23501 23502 23503 23504 23505 23507 23508 23509 23510 23511 23513 23514 23515 23517 23518 23523 23529 23541 23551

Median Listing Price

$361K

Population

233,596

94,965

Median Days on Market

Active Listings

631

New Listings

292

Housing Market

The median listing price is up 6.2% YoY while the median home got up 1.8% bigger, so value per square foot is up 2.7%.

Pricing

Median Listing Price

$361K+6.2% YoY

Average Listing Price

$425K+7.1% YoY

Price per Sq Ft

$221.271+2.7% YoY

Median Sq Ft

1,665+1.8% YoY

Inventory

Active Listings

631+7.1% YoY

New Listings

292-2.0% YoY

Total Listings

632+6.9% YoY

Buyer Competition

Pending Listings

2-33.3% YoY

Pending Ratio

0.01-39.8% YoY

Median Days on Market

42+9.5% YoY

Price Reduced

24.0%-18.6% YoY

Units & Occupancy

2024 Occupancy ⓘ

U.S. Census ACS · n = 103,524

104Kunits

Occupied94,96591.7%

Vacant8,5598.3%

2024 Tenure ⓘ

U.S. Census ACS · n = 94,965

95Koccupied

Owner44,00046.3%

Renter50,96553.7%

Renter Share

53.7%-1.2% YoY

Total Housing Units

103,524+1.0% YoY

FY2026 Fair Market Rent

CountyNorfolk city · HUD 40th-percentile estimate, not actual market asking rent

Studio

$1,492

/month

1 BR

$1,512

/month

2 BR

$1,713

/month

3 BR

$2,376

/month

4 BR

$2,797

/month

FMR trends · Norfolk city

HUD Fair Market Rents · FY1983–FY2026

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Renters hold 53.7% of this ZIP's 94,965 occupied households, on a median household income of $67K.

Population & Age

Total Population

233,596-0.6% YoY

2024 Age Mix ⓘ

U.S. Census ACS · n = 233,596

234Kresidents

Under 1847,53620.3%

Adults 18–64155,62066.6%

65 & Over30,44013.0%

Age Composition Over Time

U.S. Census ACS · 2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

33.24+0.4% YoY

Population Under 18

47,536-1.2% YoY

Population 65 & Over

30,440+3.0% YoY

Households & Mobility

Total Households

94,965+0.5% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.26-0.7% YoY

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house80.5%

Moved (within US)18.6%

Other0.8%

Veterans

15.2%-4.1% YoY

Income & Poverty

Median Household Income

$67K+2.7% YoY

Per-Capita Income

$39K+5.4% YoY

Mean Household Income

$92K+4.1% YoY

Below Poverty Level

16.4%-3.3% YoY

Commuting

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone70.5%

Public transit2.7%

Worked from home10.4%

Other16.3%

Worked From Home

10.4%+16.9% YoY

Mean Commute

23.27+0.4% YoY

Units & Tenure

Total Housing Units

103,524+1.0% YoY

2024 Occupancy ⓘ

U.S. Census ACS · n = 103,524

104Kunits

Occupied94,96591.7%

Vacant8,5598.3%

2024 Tenure ⓘ

U.S. Census ACS · n = 94,965

95Khouseholds

Owner44,00046.3%

Renter50,96553.7%

Avg Household Size — Owner

2.42-0.5% YoY

Avg Household Size — Renter

2.12-1.2% YoY

County Demographics

County population is down 0.6% to 233,596: residents under 18 are down 1.2% and those 65 and over are up 3.0%.

Median Age

32.72024

Population

Norfolk city Population

231,105-0.1% YoY

Households

Total Households

94,965+0.5% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.25-0.9% YoY

Age

2024 Age Mix ⓘ

U.S. Census ACS · n = 233,596

234Kresidents

Under 1847,53620.3%

Adults 18–64155,62066.6%

65 & Over30,44013.0%

Age Composition Over Time

U.S. Census ACS · 2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

47,536-1.2% YoY

Population 65 & Over

30,440+3.0% YoY

Median Age

32.70+0.9% YoY

Mobility & Veterans

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house80.5%

Moved (within US)18.6%

Other0.9%

Veterans

14.2%-0.7% YoY

County Economy

County median household income is $66K, 16.5% of residents are below the poverty level, 10.2% work from home.

Income

Median Household Income

$66K+3.3% YoY

Per-Capita Income

$39K+5.4% YoY

Mean Household Income

$92K+4.1% YoY

Poverty

Below Poverty Level

16.5%-4.6% YoY

Transportation to Work

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone70.6%

Public transit2.6%

Worked from home10.2%

Other16.6%

Worked From Home

10.2%+18.6% YoY

Mean Commute

23.00+0.4% YoY

Done with Norfolk? Put it next to another market.