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Norfolk, VA
Full City Profile · Virginia · Norfolk city County
3.2
/5.0
B
Good
235,037
Population
4,411/sq mi density
$64,017
Median Income
$37,433 per capita
$271,900
Home Value
$302,742 Zillow
$1,246
Median Rent
31.7% income on rent
62°F
Avg Temperature
300 sunny days/yr
546
Violent Crime/100K
3,462 property/100K
B
Overall
3.2 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.7 / 5.0
$64,017 median income, 3.5% unemployment
A
Affordability
4.3 / 5.0
$271,900 home value, $1,246/mo rent
F
Safety
1.0 / 5.0
546 violent crimes/100K (44% above avg)
B+
Education
3.6 / 5.0
32.7% bachelor's degree or higher
Housing Overview
Median Home Value
$271,900
4% below
US avg: $281,900
Median Rent
$1,246/mo
7% above
US avg: $1,163/mo
Homeownership Rate
45.7%
30% below US avg (65.4%)
Total Housing Units
101,710
Median year built: 1963
Home Value by Source
Census Median
$271,900
Zillow (ZHVI)
$302,742
Median Sale Price
$330,000
Median List Price
$340,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
45.7%
Owner-Occupied
54.3%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,492/mo
1 Bedroom
$1,512/mo
2 Bedroom
$1,713/mo
3 Bedroom
$2,376/mo
4 Bedroom
$2,797/mo
Census median rent:
$1,246/mo
· Zillow rent:
$1,696/mo
Market Indicators (Redfin)
Median Days on Market
34 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
194
Price Drops
22.8%
of listings with price reduction
Price Per Sq Ft
$211
Active Inventory
461
homes for sale
Affordability & Housing Stock
Rent Burden
31.7%
of renters spending 30%+ of income on housing
2% above US avg (31.0%)
Median Year Built
1963
Average age of housing stock: 63 years
Homeownership Rate
45.7%
Complete Housing Data
Home Values
| Census Median Value | $271,900 |
| Zillow Home Value (ZHVI) | $302,742 |
| Median Sale Price | $330,000 |
| Median List Price | $340,000 |
| Price Per Sq Ft | $211 |
Rent
| Census Median Rent | $1,246 |
| Zillow Rent (ZORI) | $1,696 |
| FMR Studio | $1,492 |
| FMR 1-Bedroom | $1,512 |
| FMR 2-Bedroom | $1,713 |
| FMR 3-Bedroom | $2,376 |
| FMR 4-Bedroom | $2,797 |
Market
| Days on Market | 34 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 22.8% |
| Homes Sold | 194 |
| Active Inventory | 461 |
| Price Per Sq Ft | $211 |
Ownership & Stock
| Owner-Occupied | 45.7% |
| Renter-Occupied | 54.3% |
| Homeownership Rate | 45.7% |
| Total Housing Units | 101,710 |
| Median Year Built | 1963 |
| Rent Burden | 31.7% |