Housing
Home prices and rent in Norfolk
Median home values, rents and incomes from the U.S. Census Bureau, compared with Virginia and the U.S.
Census geography: Norfolk city, Virginia. These survey estimates are not current listing prices.
Norfolk vs. Virginia and the U.S.
| Norfolk | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $289,900 | $383,700 | $332,700 |
| Median rent (monthly) | $1,321 | $1,579 | $1,413 |
| Median household income | $66,109 | $93,170 | $80,734 |
| Homes owned by occupants | 46% | 67% | 65% |
| Median year built | 1964 | 1984 | 1980 |
Ten years of change
| 2014 | 2019 | 2024 | |
|---|---|---|---|
| Median home value | $196,700 | $206,700 | $289,900 |
| Median rent (monthly) | $965 | $1,059 | $1,321 |
| Median household income | $44,150 | $51,590 | $66,109 |
Fair Market Rents (HUD, fiscal year 2027)
Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area · Norfolk city. HUD's payment benchmarks for housing programs: typical gross rent (rent plus utilities) for a recent mover, not a listing or an asking rent.
Large figures are the metro-area Fair Market Rent; green figures are the range across 13 Norfolk ZIP codes, where HUD sets Small Area Fair Market Rents.
Income limits (HUD, fiscal year 2026)
Area median family income: $107,700. Households at or under these incomes can qualify for many housing programs; check each program's own rules.
| Household size | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Low income (80%) | $60,350 | $68,950 | $77,550 | $86,150 | $93,050 | $99,950 | $106,850 | $113,750 |
| Very low income (50%) | $37,700 | $43,100 | $48,500 | $53,850 | $58,200 | $62,500 | $66,800 | $71,100 |
| Extremely low income (30%) | $22,650 | $25,850 | $29,100 | $33,000 | $38,680 | $44,360 | $50,040 | $55,720 |
Source: U.S. Department of Housing and Urban Development, Fair Market Rents and Income Limits, checked October 9, 2026.
Questions
What is the median home value in Norfolk?
$289,900, according to the Census Bureau’s 2024 American Community Survey (5-year estimates), compared with $383,700 in Virginia and $332,700 nationally.
How much is rent in Norfolk?
Median gross rent (rent plus utilities) is $1,321 a month, versus $1,579 statewide.
How much have home values risen in Norfolk?
The median home value went from $196,700 in 2014 to $289,900 in 2024 (+47%).
What is fair market rent in Norfolk?
HUD's fiscal year 2027 Fair Market Rent for the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area is $1,470 for a studio, $1,488 for one bedroom and $1,667 for two bedrooms; across Norfolk's ZIP codes, two-bedroom values run $1,400 to $2,030. These are HUD program benchmarks, not asking rents.
Are these current market prices?
No. They are survey medians from the Census Bureau, based on a five-year survey period, so they lag today’s listings. They are the most consistent way to compare places and track change over time.
U.S. Census Bureau, American Community Survey 5-year estimates (2014, 2019, 2024), Norfolk city, Virginia. Values are estimates with margins of error.