Norfolk, VA 23514 Real Estate Market Analysis | dynamic.RE
dynamic.RE
Search
Portfolio
Market Analysis
Areas
Analyze
Select a state…
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
No cities
Compare
Market Snapshot
Housing Market
County Demographics
County Economy
Norfolk, VA — 23514
Median Listing Price
--
Population
--
Households
94,965
Median Days on Market
--
Active Listings
--
New Listings
--
Housing Market
Units & Occupancy
2024 Occupancy
104K
units
Occupied
94,965
91.7%
Vacant
8,559
8.3%
2024 Tenure
95K
occupied
Owner
44,000
46.3%
Renter
50,965
53.7%
Renter Share
53.7%
-1.2% YoY
Total Housing Units
103,524
+1.0% YoY
FY2026 Fair Market Rent — Norfolk city
HUD government estimate (40th percentile) — 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
Source: HUD Fair Market Rents
County Demographics
Median Age
32.7
2024
Population
Norfolk city Population
231,105
-0.1% YoY
Households
Total Households
94,965
+0.5% YoY
Household Types
--
Not reported for this area (ACS).
Avg Household Size
2.25
-0.9% YoY
Age
2024 Age Mix
234K
residents
Under 18
47,536
20.3%
Adults 18–64
155,620
66.6%
65 & Over
30,440
13.0%
Age Composition Over Time
2017–2024
Population growth (first year = 100)
Share of population (change in pp)
Under 18
Adults 18–64
65 & 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
of residents
Same house
80.5%
Moved (within US)
18.6%
Other
0.9%
Veterans
14.2%
-0.7% YoY
County Economy
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
of workers
Drove alone
70.6%
Public transit
2.6%
Worked from home
10.2%
Other
16.6%
Worked From Home
10.2%
+18.6% YoY
Mean Commute
23.00
+0.4% YoY
dynamic.RE