Cost of Living in Norfolk city, VA
Population 233,596 · Census ACS 2020–2024 5-year estimates
The median rent in Norfolk city, VA is $1,321/month, 16% lower than the Virginia median and 7% lower than the U.S. median. The median home value is $289,900, 13% lower than the national median. Households earn a median of $66,109 a year, 29% lower than the state median.
Affordability
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Norfolk city vs. Virginia vs. U.S.
| Norfolk city | Virginia | U.S. | |
|---|---|---|---|
| Median rent | $1,321 | $1,579 | $1,413 |
| Median home value | $289,900 | $383,700 | $332,700 |
| Median household income | $66,109 | $93,170 | $80,734 |
| Homeownership rate | 46.3% | 67.3% | 65.2% |
| Bachelor's degree or higher | 33.5% | 42.2% | 35.7% |
| Poverty rate | 16.5% | 9.9% | 12.5% |
| Unemployment rate | 5.7% | 4.3% | 5.2% |
| Work from home | 10.2% | 18.3% | 15.1% |
| Median age | 32.7 | 39.0 | 38.9 |
FAQ
What is the average rent in Norfolk city, VA?
The median gross rent in Norfolk city, VA is $1,321 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Norfolk city, VA?
Using the common 30% rule, renting a median-priced home takes about $52,840 a year in gross income.
Is Norfolk city, VA expensive to live in?
Rent there is 7% lower than the U.S. median, and the median home costs about 4.4 times the median household income.
Other counties in Virginia
Counties with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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