Zip 23504 (Norfolk, VA) Housing

The housing market in Norfolk, VA (zip code 23504) is robust. The median value of homes in this area is currently $220,100, which is much lower than the US median value of $338,100. Despite the lower cost, house appreciation in Norfolk has grown at a rate of 8.59% over the past year, which outpaces the US average of 8.27%. This shows that there is strong demand for housing in the area and continued opportunities to invest in real estate.

The median home cost in Norfolk (zip 23504) is $220,100. Home appreciation the last 10 years has been 55.7%. Home Appreciation in Norfolk (zip 23504) is up 12.2%.

Average Age of Homes

- The median age of Norfolk (zip 23504) real estate is 48 years old

The Rental Market in Norfolk (zip 23504)

- Renters make up 56.6% of the Norfolk (zip 23504) population
- 3.5% of houses and apartments in Norfolk (zip 23504), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Norfolk, Virginia	United States
	9,448.0	139,647,020.0
	49	42
	$220,100	$338,100
	12.2%	16.6%
	49.5%	57.0%
	55.7%	101.1%
	$9.40	$10.98
	$1,922	$2,690
	29.0%	57.4%
	11.3%	11.2%
	59.6%	31.4%
Vacant Housing
	3.5%	1.9%
	0.1%	0.4%
	1.7%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	6.0%	4.1%
Value of Owner-Occupied Housing
	1.1%	2.6%
	0.2%	2.4%
	0.2%	2.8%
	2.0%	3.9%
	4.2%	4.5%
	14.0%	11.3%
	26.3%	13.0%
	38.2%	20.1%
	9.7%	13.6%
	0.8%	8.3%
	1.8%	9.7%
	0.7%	3.9%
	0.7%	2.2%
	0.3%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	13.8%	13.6%
	13.8%	13.6%
	8.1%	13.6%
	10.6%	13.2%
	12.7%	14.8%
	8.1%	13.6%
	10.7%	10.0%
	5.8%	4.7%
	21.6%	12.2%

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