Housing costs in Norfolk?
A typical home costs
$284,400, which is 15.9% less expensive than the national average of
$338,100 and 17.1% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Norfolk costs
$1,220 per month, which is 12.9% cheaper than the national average of
$1,400 and 8.2% cheaper than the state average of
$1,320.
Can I afford Norfolk?
To live comfortably in Norfolk (zip 23518), Virginia, a minimum annual income of
$54,360 for a family, and
$41,600 for a single person is recommended.
What does A.I. say about Norfolk?
The cost of living in 23518 Norfolk, VA is quite reasonable. The city has a median household income of $46,523 and the cost of housing is 13% lower than the national average. Groceries are about 8% cheaper than the rest of the country while utilities are about 7% less expensive. Additionally, transportation costs are below the national average. All these factors combine to make life in this area more affordable than other parts of the country.