The story of this market
The typical home in ZIP 23503 sells for about $339,899, or $225 per square foot.
Prices are up +1.5% from a year ago, so sellers still have some momentum. Homes take about 24 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,224 a month.
ZIP 23503 — Norfolk
The 23503 housing market remains very competitive with a median sale price of $339,899, reflecting a 1.5% year-over-year increase. Low inventory and steady demand from the military-heavy local economy continue to drive market activity. Most metrics are sourced from recent Redfin and Zillow market reports.
This ZIP is well-suited for military families, first-time homebuyers, and those seeking an established community with waterfront access and proximity to regional employment centers.
Median prices moved up 1.5% year over year.
Homes spend a median of 24 days on market with 1.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.0% · poverty 11.2% — a stable, low-distress profile.
ZCTA 23503, Norfolk city, Virginia
The area features a significant veteran presence and established residential character with proximity to major regional military installations.
Property taxes are assessed by the City of Norfolk; specific exemptions for veterans and seniors may apply per local ordinance.
The ZIP offers direct access to major regional corridors, facilitating commutes to Norfolk's employment hubs and military bases.
The area provides access to waterfront parks and recreational facilities along the Chesapeake Bay and local waterways.
The rental market is supported by a steady demand from military personnel and local workforce, with moderate vacancy pressure.
The local economy is heavily influenced by the military and defense sector, alongside maritime and logistics industries.
The area is served by regional highway networks with limited public transit connectivity to the broader Norfolk metro core.
Parcels are subject to City of Norfolk municipal taxes and standard utility service districts.
Data retrieved from ZCTA-level census profiles.
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.
- Apex Entertainment Virginia Beach4.510.3 mi
- Dave & Buster's4.114 mi
- Hunt Club Farm4.618.1 mi
- Sky Zone Trampoline Park4.211.2 mi
- Funplex Trampoline Park.4.711.9 mi
- Virginia Aquarium & Marine Science Center4.417.9 mi
- Hampton Coliseum4.48.7 mi
- Virginia Beach Convention Center4.516.9 mi
- Veterans United Home Loans Amphitheater at Virginia Beach4.415.3 mi
- Topgolf Virginia Beach4.48.9 mi
- Virginia Zoo4.55 mi
- Norfolk Botanical Garden4.84.9 mi
- Mount Trashmore Park4.711.4 mi
- Apex Entertainment Virginia Beach4.510.3 mi
- AMC Hampton Towne Centre 244.411.7 mi
- Virginia Aquarium & Marine Science Center4.417.9 mi
- Virginia Living Museum4.714.5 mi
- Chrysler Museum of Art4.86.6 mi
- Nauticus4.77.2 mi
- Cape Henry Lighthouse4.414.3 mi
- Norfolk Botanical Garden4.84.9 mi
- Mount Trashmore Park4.711.4 mi
- Buckroe Beach and Park4.66.5 mi
- Ocean View Beach Park4.50.9 mi
- Portsmouth City Park4.610 mi
- VIG Portsmouth3.47.4 mi
- Cavalier Golf & Yacht Club4.715.4 mi
- Hampton Yacht Club4.66.6 mi
- Tidewater Yacht Marina4.77.6 mi
- Salt Ponds Marina Resort4.37.3 mi
- Topgolf Virginia Beach4.48.9 mi
- Sewells Point Golf Course4.32.2 mi
- Riverfront Golf Club4.411 mi
- Bide-A-Wee Golf Course4.410.9 mi
- Greenbrier Country Club4.512.9 mi
- Norfolk Premium Outlets4.45.9 mi
- Greenbrier Mall4.111.9 mi
- Navy Exchange Main4.52.5 mi
- Grand Mart4.47.8 mi
- Harris Teeter4.36 mi
- Norfolk International Airport4.35.3 mi
- Naval Air Station Oceana4.316.3 mi
- Newport News/Williamsburg International Airport4.418.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides local recreational access and scenic views.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).