The story of this market
The typical home in ZIP 23551 sells for about $340,000, or $208 per square foot.
Prices are up +1.5% from a year ago, so sellers still have some momentum. Homes take about 41 days to sell. HUD's fair market rent for a two-bedroom is $1,800 a month.
This ZIP has no home sales of its own, so its market figures come from Norfolk, Virginia (city-level). Population, rents, hazards, lending and amenities are this ZIP's own readings.
ZIP 23551 — Norfolk
The housing market in Norfolk shows moderate growth with a 3.4% year-over-year increase in median sale prices. Market activity remains balanced, though specific ZIP-level inventory for 23551 is limited due to its unique status as a low-population, specialized area.
This ZIP code is a unique, low-population area that primarily serves as a specialized district within the City of Norfolk.
Median prices moved up 1.5% year over year.
Homes spend a median of 41 days on market with 2.2 months of supply — a fast-moving market.
25% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 0.0% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 23551, Norfolk city, Virginia
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The City of Norfolk assesses property at 100% of fair market value with a tax rate of approximately $1.23 per $100 of assessed value.
The mean travel time to work for residents is approximately 18.3 minutes, significantly lower than the regional average.
The rental market is characterized by a median asking rent of $1,700 per month, with a balanced profile for investors.
The area is part of the broader Norfolk economy, which is heavily influenced by the military, maritime, and logistics sectors.
Data retrieved from Census Reporter and ZipDataMaps.
- Apex Entertainment Virginia Beach4.510.9 mi
- Dave & Buster's4.114.7 mi
- Hunt Club Farm4.618.7 mi
- Sky Zone Trampoline Park4.210.2 mi
- Funplex Trampoline Park.4.711.8 mi
- Virginia Aquarium & Marine Science Center4.419 mi
- Hampton Coliseum4.48.8 mi
- Virginia Beach Convention Center4.518.2 mi
- Veterans United Home Loans Amphitheater at Virginia Beach4.415.3 mi
- Topgolf Virginia Beach4.49.1 mi
- Virginia Zoo4.53.6 mi
- Norfolk Botanical Garden4.85.8 mi
- Mount Trashmore Park4.711.8 mi
- Apex Entertainment Virginia Beach4.510.9 mi
- AMC Hampton Towne Centre 244.411.6 mi
- Virginia Aquarium & Marine Science Center4.419 mi
- Virginia Living Museum4.714 mi
- Chrysler Museum of Art4.84.8 mi
- Nauticus4.75.4 mi
- Cape Henry Lighthouse4.416.2 mi
- Norfolk Botanical Garden4.85.8 mi
- Mount Trashmore Park4.711.8 mi
- Buckroe Beach and Park4.68 mi
- Oak Grove Park4.712 mi
- Chesapeake City Park4.712.7 mi
- VIG Portsmouth3.44.9 mi
- Cavalier Golf & Yacht Club4.716.8 mi
- Hampton Yacht Club4.67 mi
- Tidewater Yacht Marina4.75.8 mi
- Salt Ponds Marina Resort4.38.9 mi
- Topgolf Virginia Beach4.49.1 mi
- Riverfront Golf Club4.48.5 mi
- Sewells Point Golf Course4.30.8 mi
- Bide-A-Wee Golf Course4.48.7 mi
- Greenbrier Country Club4.511.9 mi
- Norfolk Premium Outlets4.46.4 mi
- Greenbrier Mall4.110.9 mi
- Navy Exchange Main4.51.3 mi
- Grand Mart4.48.3 mi
- Harris Teeter4.34.2 mi
- Norfolk International Airport4.36.1 mi
- Naval Air Station Oceana4.317.2 mi
- Newport News/Williamsburg International Airport4.418 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: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass. Contamination repair: median price, price per sq ft reproduced Norfolk (city) County's own figure to the dollar and were cleared — a parent aggregate is not this ZIP's reading.