The story of this market
The typical home in Norfolk (city), Virginia sells for about $323,000, or $211 per square foot.
Prices are up +6.03% from a year ago, so sellers still have some momentum. Homes take about 41 days to sell. Over the long run, values in this county have grown 119% since 2000. Last year 42 of 60 neighborhoods saw prices rise, so the story isn't the same street to street. HUD's fair market rent for a two-bedroom is $1,667 a month.
HUD sets the fair market rent for a 2-bedroom at $1,667 a month. FEMA's National Risk Index rates overall hazard risk here as Very Low.
Price climate
Every year of price change, 2000–2025
0%
2025
Each stripe is one year's median price change across the area's census tracts (FHFA repeat-sales index). Deep blue is a strong gain year, red a falling year. Best: 2005 (+24.5%). Worst: 2011 (-5.9%). Hover to read a year.
Monthly price momentum
Home values since 2015
+2.6%
VA · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Rent benchmark
Fair market rent by size
$2,298
3-bed / month
HUD Fair Market Rents, fiscal 2027, for this county. A typical rent for a modest unit, used to set housing-voucher payments.
Neighborhood price trend
Long-run price trend, 2000–2025
0%
2025 change
FHFA repeat-sales index, median of 60 census tracts in this county (2000 = 100). Bars are each year's median change.
Natural hazard exposure
The area's risk shape
7
Very Low
FEMA National Risk Index. Each spoke is a hazard ranked nationally, where 100 is the most exposed. Expected annual loss: $45,699,239.
Norfolk (city), Virginia
The Norfolk housing market shows resilience with steady year-over-year price growth and moderate inventory levels. While demand remains supported by the stable defense and maritime sectors, rising days on market suggest a cooling pace compared to previous years. Buyers are finding more options, though affordability remains a key factor for the local workforce.
No ARED distress-ledger coverage for this county yet — the foreclosure ingest rotates the national county directory, and filings appear here once the county's posted notices are read. Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).
Select a city to expand its ZIP intel reports beneath · 1 city · 13 ZIP reports
Median prices moved up 3.3% year over year.
Homes spend a median of 51 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 35.12% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 17.5% — a stable, low-distress profile.
Owned and leased federal assets with active or excess status, per the General Services Administration's Real Estate Across the United States inventory (read 2026-09-25). A federal footprint read on this county — not a market valuation, and never an attribute of any individual property or tenant.
Deterministic aggregate of 15 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Norfolk (city), Virginia — researched county-level history with a deterministic 1 / 3 / 5-year projection
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
No researched properties in this county yet — the property base layer populates as property research runs, and each property feeds its ZIP's roll-up.
researched Sep 29
researched Sep 29
researched Sep 30
researched Oct 1
researched Oct 5
researched Oct 4
researched Oct 4
researched Sep 19
researched Sep 29
researched Sep 30
| 23502 | Norfolk | $330,000 | $205 | -1.5% | 39 | 98.5% | 18% | 3.2 | 690 | $1,398 | researched Sep 29 |
| 23503 | Norfolk | $339,899 | $225 | +1.5% | 24 | 100% | — | 1 | 133 | $1,224 | researched Sep 29 |
| 23504 | Norfolk | $259,500 | $165 | +2.1% | 45 | 98.5% | 15% | 3.4 | 120 | $957 | researched Sep 30 |
| 23505 | Norfolk | $330,000 | $230 | -1.5% | 72 | — | — | — | 57 | $1,334 | researched Oct 1 |
| 23506 | Norfolk | $321,871 | $185 | +1.5% | 24 | 98.5% | 15% | 2.1 | 12 | $1,450 | researched Oct 5 |
| 23507 | Norfolk | $512,000 | $238 | +3.3% | 33 | 98.5% | 18% | 2.7 | 133 | $1,498 | researched Oct 4 |
| 23508 | Norfolk | $357,550 | $230 | +7.8% | 35 | 101% | — | — | 54 | $1,464 | researched Oct 4 |
| 23509 | Norfolk | $325,000 | $237 | 0% | 51 | — | — | — | 35 | $1,326 | researched Sep 19 |
| 23510 | Norfolk | $332,000 | $236 | — | 39 | — | — | — | 28 | $1,547 | researched Sep 29 |
| 23513 | Norfolk | $297,650 | $215 | +2.4% | 22 | 98.5% | 18% | 2.1 | 84 | $1,226 | researched Sep 30 |
Figures are each ZIP report's own latest research — the county roll-up aggregates them sales_count-weighted (population fallback); ZIPs cycle quarterly.
Norfolk experiences crime rates that are generally higher than the national average, with property crime being the most prevalent category. Local law enforcement actively utilizes community-policing initiatives to address trends in specific neighborhoods.
Norfolk Public Schools serves the city with a diverse range of educational options, including specialized magnet programs and career-technical academies. Performance ratings vary significantly across individual schools, reflecting the city's socioeconomic diversity.
The city faces significant flood risks due to its low-lying coastal geography and proximity to the Chesapeake Bay and Atlantic Ocean. Residents are frequently required to maintain flood insurance, and the city invests heavily in storm-resilience infrastructure.
The economy is anchored by the massive presence of the U.S. Navy and the Port of Virginia, driving steady demand for housing and services. Significant redevelopment is ongoing in the downtown and waterfront districts to attract corporate investment and tourism.
Norfolk levies a real estate tax based on the assessed value of property as determined by the city's assessor. The city maintains a uniform tax rate applied to all taxable real estate, with specific exemptions available for elderly and disabled residents.
The economy is heavily reliant on the defense sector, specifically the U.S. Navy's Atlantic Fleet, and the maritime logistics industry centered on the Port of Virginia. Healthcare and higher education also serve as significant employment pillars.
The city is served by a network of major highways including I-64 and I-264, and features the Tide light rail system connecting key urban corridors. Infrastructure focus remains on bridge-tunnel connectivity and port-related freight logistics.
The Norfolk City Assessor's Office conducts annual assessments of all real property to ensure fair market value taxation. Property owners have the right to appeal assessments through a formal administrative process.
The city is served by various special districts including the Norfolk Redevelopment and Housing Authority and regional utility authorities for water and sewage management.
Property insurance premiums in Norfolk are influenced by the city's high flood-risk profile, necessitating participation in the National Flood Insurance Program for many homeowners.
- Apex Entertainment Virginia Beach4.58.3 mi
- Dave & Buster's4.112.1 mi
- Hunt Club Farm4.615.5 mi
- Sky Zone Trampoline Park4.25.3 mi
- Funplex Trampoline Park.4.716.6 mi
- Virginia Aquarium & Marine Science Center4.416.8 mi
- Hampton Coliseum4.413.8 mi
- Virginia Beach Convention Center4.516.5 mi
- Veterans United Home Loans Amphitheater at Virginia Beach4.411.5 mi
- Topgolf Virginia Beach4.46.2 mi
- Virginia Aquarium & Marine Science Center4.416.8 mi
- Virginia Zoo4.51.9 mi
- First Landing State Park4.715.1 mi
- Norfolk Botanical Garden4.85.9 mi
- Mount Trashmore Park4.79 mi
- Virginia Aquarium & Marine Science Center4.416.8 mi
- Virginia Living Museum4.718.5 mi
- Chrysler Museum of Art4.80.6 mi
- Nauticus4.70.6 mi
- Cape Henry Lighthouse4.416.2 mi
- First Landing State Park4.715.1 mi
- Norfolk Botanical Garden4.85.9 mi
- Mount Trashmore Park4.79 mi
- Virginia Beach Oceanfront Boardwalk4.717.1 mi
- Buckroe Beach and Park4.613.1 mi
- VIG Portsmouth3.44.3 mi
- Cavalier Golf & Yacht Club4.715.5 mi
- Hampton Yacht Club4.612.1 mi
- Tidewater Yacht Marina4.70.9 mi
- Salt Ponds Marina Resort4.314 mi
- Topgolf Virginia Beach4.46.2 mi
- Sleepy Hole Golf Course4.612.8 mi
- Virginia Beach National Golf Club4.513.3 mi
- Riverfront Golf Club4.49 mi
- Sewells Point Golf Course4.34.9 mi
- Lynnhaven Mall4.412.1 mi
- Norfolk Premium Outlets4.45.2 mi
- Greenbrier Mall4.15.9 mi
- Navy Exchange Main4.56.5 mi
- Grand Mart4.46.2 mi
- Norfolk International Airport4.35.6 mi
- Naval Air Station Oceana4.314.7 mi
- Newport News/Williamsburg International Airport4.422.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The amenity base that shapes daily life and property demand in this county — what residents actually live with, and what the pipeline is adding.
A world-class art museum featuring an extensive collection and a glass studio.
A premier waterfront park hosting major festivals and concerts throughout the year.
A major regional attraction featuring diverse wildlife exhibits and educational programs.
Data retrieved from data.census.gov; figures reflect city-wide averages.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.