Zip 23508 (Norfolk, VA) Housing

The housing market in Norfolk, VA (zip code 23508) is currently estimated at a median value of $353,100. This is slightly higher than the national average median value of $338,100. The appreciation rate for homes in Norfolk has been 8.59% over the last year, which is higher than the US national average of 8.27%. Therefore, those who are looking to invest in the local housing market may find that Norfolk is an attractive option due to its relatively high appreciation rate and median home price.

The median home cost in Norfolk (zip 23508) is $353,100. Home appreciation the last 10 years has been 55.7%. Home Appreciation in Norfolk (zip 23508) is up 12.2%.

Average Age of Homes

- The median age of Norfolk (zip 23508) real estate is 70 years old

The Rental Market in Norfolk (zip 23508)

- Renters make up 46.3% of the Norfolk (zip 23508) population
- 2.8% of houses and apartments in Norfolk (zip 23508), 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
	7,293.0	139,647,020.0
	69	42
	$353,100	$338,100
	12.2%	16.6%
	49.5%	57.0%
	55.7%	101.1%
	$11.69	$10.98
	$3,862	$2,690
	42.1%	57.4%
	8.3%	11.2%
	49.7%	31.4%
Vacant Housing
	2.8%	1.9%
	1.1%	0.4%
	1.7%	0.7%
	0.0%	0.4%
	0.1%	3.6%
	2.5%	4.1%
Value of Owner-Occupied Housing
	0.9%	2.6%
	0.8%	2.4%
	0.7%	2.8%
	1.0%	3.9%
	1.3%	4.5%
	4.7%	11.3%
	9.0%	13.0%
	22.9%	20.1%
	28.0%	13.6%
	17.0%	8.3%
	9.7%	9.7%
	1.1%	3.9%
	1.9%	2.2%
	0.4%	0.8%
	0.4%	1.1%
Housing Units by Year Structure Built
	0.3%	0.2%
	9.7%	13.6%
	9.7%	13.6%
	3.7%	13.6%
	9.0%	13.2%
	7.3%	14.8%
	3.7%	13.6%
	8.5%	10.0%
	6.8%	4.7%
	41.7%	12.2%

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