The story of this market
The typical home in ZIP 23523 sells for about $225,000, or $232 per square foot.
Prices are down 25% from a year ago, which gives buyers more room to negotiate. Homes take about 19 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $937 a month.
ZIP 23523 — Norfolk
The 23523 housing market is experiencing significant volatility with a reported 25% year-over-year decline in average home prices. While the area remains competitive due to its affordability and proximity to military facilities, the sharp price drop suggests a cooling trend. Several metrics, including specific median household income and detailed tax history, are not currently published for this ZIP.
This ZIP is suitable for renters and budget-conscious buyers looking for affordable housing options near military facilities.
Median prices moved down 25.0% year over year.
Homes spend a median of 19 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 39.1% — a mixed stability profile.
ZCTA 23523, Norfolk city, VA
The area is a coastal zone with exposure to flood and wind risks.
The area is located near military facilities and is characterized as a white-collar job area.
The effective property tax rate for this ZIP is 0.7%.
The area functions as a suburb of Virginia Beach with proximity to local military installations.
The area is a coastal community with access to local residential amenities.
The rental market is dominated by renter-occupied units with a 67% renter share.
The local economy is heavily influenced by nearby military facilities and white-collar employment sectors.
Data sourced from City-Data and US Zip Codes profiles.
- Apex Entertainment Virginia Beach4.57.8 mi
- Dave & Buster's4.111.4 mi
- Hunt Club Farm4.614.7 mi
- Sky Zone Trampoline Park4.24.1 mi
- Hampton Virginia Aquaplex4.115.4 mi
- Virginia Aquarium & Marine Science Center4.416.2 mi
- Hampton Coliseum4.415 mi
- Virginia Beach Convention Center4.516 mi
- Veterans United Home Loans Amphitheater at Virginia Beach4.410.6 mi
- Topgolf Virginia Beach4.45.7 mi
- Virginia Zoo4.53 mi
- Norfolk Botanical Garden4.86.3 mi
- Mount Trashmore Park4.78.4 mi
- Apex Entertainment Virginia Beach4.57.8 mi
- AMC Lynnhaven 18411.3 mi
- Virginia Aquarium & Marine Science Center4.416.2 mi
- Chrysler Museum of Art4.81.8 mi
- Virginia Living Museum4.719.8 mi
- Nauticus4.71.4 mi
- Cape Henry Lighthouse4.416.2 mi
- Norfolk Botanical Garden4.86.3 mi
- Mount Trashmore Park4.78.4 mi
- Oak Grove Park4.75.5 mi
- Chesapeake City Park4.76.3 mi
- Ocean View Beach Park4.58.5 mi
- VIG Portsmouth3.45.2 mi
- Cavalier Golf & Yacht Club4.715.2 mi
- Hampton Yacht Club4.613.4 mi
- Tidewater Yacht Marina4.71.3 mi
- Salt Ponds Marina Resort4.315.2 mi
- Topgolf Virginia Beach4.45.7 mi
- Virginia Beach National Golf Club4.512.3 mi
- Sewells Point Golf Course4.36.1 mi
- Greenbrier Country Club4.55.8 mi
- Riverfront Golf Club4.49.8 mi
- Lynnhaven Mall4.411.5 mi
- Norfolk Premium Outlets4.45.4 mi
- Greenbrier Mall4.14.7 mi
- Navy Exchange Main4.57.8 mi
- Grand Mart4.46 mi
- Norfolk International Airport4.35.9 mi
- Naval Air Station Oceana4.314 mi
- Newport News/Williamsburg International Airport4.424 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).