Housing costs in Norfolk?
A typical home costs
$295,500, which is 12.6% less expensive than the national average of
$338,100 and 13.9% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Norfolk costs
$1,950 per month, which is 39.3% more than the national average of
$1,400 and 32.3% more than the state average of
$1,320.
Can I afford Norfolk?
To live comfortably in Norfolk (zip 23511), Virginia, a minimum annual income of
$56,520 for a family, and
$66,800 for a single person is recommended.
What does A.I. say about Norfolk?
The cost of living in 23511 Norfolk, VA is quite reasonable compared to other parts of the country. The median home value is $219,000, compared to the national median of $231,000. Grocery and health care costs are slightly below the national average. Utilities are fairly low as well, with electric rates at around 8 cents per kilowatt hour and natural gas rates around $1.21 per therm. Transportation costs are also relatively low, with a gallon of gas costing an average of $2.39. All these factors make 23511 Norfolk, VA an affordable place to live.