The story of this market
The typical home in ZIP 23090 sells for about $365,000, or $145 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 22 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,650 a month.
ZIP 23090 — Lightfoot
The 23509 housing market shows steady appreciation and consistent demand, driven by its affordability relative to the broader Hampton Roads area. While inventory remains tight, the market is balanced by a steady influx of military and professional renters. Figures for price cuts and specific tax history are based on current market trends and local assessor data.
This ZIP is well-suited for first-time homebuyers, military personnel, and renters seeking proximity to employment hubs and urban amenities at a more accessible price point than the regional average.
Median prices moved up 2.5% year over year.
Homes spend a median of 22 days on market with 3.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 13.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 23509, Norfolk City, VA
Crime rates in the area are generally consistent with urban Norfolk averages, with property crime being the primary concern compared to regional suburban benchmarks.
Schools serving the area are part of Norfolk Public Schools, which face ongoing challenges in performance metrics and resource allocation compared to neighboring suburban districts.
The area faces moderate risk from coastal flooding and storm surge, typical of the Hampton Roads region, necessitating flood insurance for many properties.
Economic momentum is driven by proximity to the Norfolk Naval Base and downtown revitalization efforts, though new residential development within this specific ZIP is limited by existing density.
Property taxes are assessed by the City of Norfolk based on fair market value; the city maintains a uniform real estate tax rate applied to all residential parcels.
Residents benefit from central access to major corridors like I-64 and I-264, providing relatively short commute times to downtown Norfolk and the naval installations.
The area features proximity to the Lafayette River and several local neighborhood parks, with easy access to the dining and retail districts of Ghent and downtown Norfolk.
The rental market is characterized by high demand due to the transient military population and proximity to local universities, keeping vacancy rates low.
The economy is heavily anchored by the U.S. Navy, maritime logistics, and the healthcare sector, providing a stable employment base.
The area is served by Hampton Roads Transit bus routes, with connectivity to the Tide light rail system in downtown Norfolk.
City planning focuses on transit-oriented development and flood mitigation infrastructure to support long-term residential viability.
The Norfolk City Assessor conducts periodic reassessments to align property values with current market conditions.
Parcels are subject to city-wide school and municipal tax levies; no significant MUD/PID districts are present.
Property insurance premiums are influenced by the area's designation in FEMA flood zones, requiring careful policy selection for homeowners.
Data retrieved from data.census.gov ZCTA-level tables.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.
Large urban park offering green space and recreational facilities.
Major regional attraction located in close proximity to the ZIP.
Primary corridor for local restaurants and independent shops.
Key-figure check: median price diverges 21.5% from the nearest retained anchor (published ten-year series (2024)) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Research outlier held out — this pass returned a median of $286,392 (21.5% off the retained reading), contradicting every independent anchor; the prior reading stands pending corroboration.