The city of Norfolk, Virginia (23508) is a bustling metropolitan area located near Virginia Beach on the Chesapeake Bay. With a population of approximately 242,803 people, it is a thriving community with plenty to see and do. The cost of rent for two bedrooms in the area is $1,350 per month - slightly lower than the US average of $1,430. Grocery costs are also relatively low here with an index of 101 rather than 100 in the US making it more affordable to residents.
Norfolk hosts numerous local companies such as Old Dominion University, Harbour Park amphitheater, Nauticus maritime museum, Chrysler Museum of Art and Scope Arena offering employment opportunities and entertainment options for its citizens. There are a plethora of restaurants and bars located throughout the city offering residents a variety of dining experiences from American comfort food to fine Italian cuisine. Furthermore, outdoor activities such as fishing and kayaking provide ways to explore beautiful nature spots like Norfolk Botanical Garden and First Landing State Park.
Norfolk (zip 23508) has an unemployment rate of 7.3%. The US average is 6.0%.
Norfolk (zip 23508) has seen the job market decrease by -5.8% over the last year. Future job growth over the next ten years is predicted to be 31.2%, which is lower than the US average of 33.5%.
Tax Rates for Norfolk (zip 23508)
- The Sales Tax Rate for Norfolk (zip 23508) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Norfolk (zip 23508) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Norfolk (zip 23508)
- The average income of a Norfolk (zip 23508) resident is $29,593 a year. The US average is $37,638 a year.
- The Median household income of a Norfolk (zip 23508) resident is $64,878 a year. The US average is $69,021 a year.