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Advertise here →Norfolk, VA · Market Data
Norfolk, Virginia real estate market data.
Real estate market data for Norfolk, VA (Norfolk city) — Census median home value $271,900, county listing prices up about 2.7% over the past year.
Norfolk, VA is in Norfolk city, Virginia — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 235,037, with a median household income of $64,017. Census data puts Norfolk's median home value at $271,900 (all owner-occupied homes); Norfolk city's current median listing price runs $349,000, up about 2.7% over the past year.
At a glance
Norfolk market snapshot
Population
235,037
Median Household Income
$64,017
Median Home Value (city)
$271,900
Median Listing Price (Norfolk city)
$349,000
Median Gross Rent
$1,246/mo
Price Trend (YoY)
+2.7%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Norfolk different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Norfolk's median home value — across all owner-occupied homes, not just recent sales — at $271,900. Separately, Norfolk city's current median listing price (via Realtor.com data, 2026-06-01) runs $349,000. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Norfolk city's FHFA house price index shows a 4.94% annual change in 2025.
Population & Income
Norfolk has an estimated population of 235,037 and a median household income of $64,017, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Norfolk's Census-reported median home value works out to about 4.2x the area's median household income, and median gross rent runs roughly 23% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Norfolk FAQ
What are home values like in Norfolk, VA?
The Census Bureau's American Community Survey puts Norfolk's median home value at $271,900. Norfolk city's current median listing price runs $349,000, up about 2.7% over the past year.
What is the population of Norfolk, VA?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Norfolk's population at approximately 235,037.
What's the median rent in Norfolk, VA?
The Census ACS estimates median gross rent in Norfolk at approximately $1,246 per month.
What is the median household income in Norfolk, VA?
Census ACS data puts the median household income in Norfolk at approximately $64,017.
Is the Norfolk housing market growing?
Norfolk city's FHFA house price index shows a 4.94% annual change in 2025.
Is Norfolk, VA affordable relative to income?
Census ACS data puts Norfolk's median home value at about 4.2 times the median household income, with median gross rent equal to roughly 23% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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