Housing costs in Norfolk?
A typical home costs
$263,400, which is 22.1% less expensive than the national average of
$338,100 and 23.3% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Norfolk costs
$1,320 per month, which is 5.7% cheaper than the national average of
$1,400 and close to the state average of
$1,320.
Can I afford Norfolk?
To live comfortably in Norfolk (zip 23502), Virginia, a minimum annual income of
$50,400 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Norfolk?
The cost of living in 23502 Norfolk, VA is relatively affordable compared to other cities in the United States. According to BestPlaces’s cost of living index, the overall index for 23502 Norfolk, VA is significantly lower than some other major cities in the United States such as New York and Los Angeles. The average rent prices are fairly low at $958 per month for a one bedroom apartment, and the overall consumer price index (CPI) is only 99.2. This means that general goods and services in 23502 Norfolk, VA are slightly cheaper than the national average. Additionally, typical utility bills such as electricity and water tend to be quite inexpensive in this area. In conclusion, the cost of living in 23502 Norfolk, VA is generally very affordable for those looking to reside in an urban area.