Norfolk, VA housing market
Typical home value
$311K
▲ 1.5% 1 yr
Typical rent
$1,749/mo
▲ 7.0% 1 yr
Gross rent yield
6.8%
U.S. 6.3%
5-year home value change
+20%
U.S. +20%
Key takeaways
- 1The typical home in Norfolk is worth $310,673, up 1.5% over the past year and up 20% over five years.
- 2Typical rent is $1,749 a month (+7.0% YoY), a gross rent yield of 6.8% (above the Virginia Beach, VA metro's 6.1%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,707/mo, $42 less than typical rent.
- 4Zillow forecasts the Virginia Beach, VA metro's home values to change +2.3% over the next 12 months.
Market temperature (Virginia Beach, VA metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 35/100, #352 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Norfolk compares
| Measure | Norfolk | Virginia Beach, VA metro | United States |
|---|---|---|---|
| Typical home value | $310,673 | $371,181 | $366,157 |
| Home value, 1-yr change | +1.5% | +2.9% | +1.2% |
| Typical rent | $1,749 | $1,886 | $1,932 |
| Rent, 1-yr change | +7.0% | +7.1% | +2.7% |
| Gross rent yield | 6.8% | 6.1% | 6.3% |
| Price-to-rent ratio | 14.8 | 16.4 | 15.8 |
| Mortgage P&I, typical home | $1,707 | $2,040 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Norfolk rental, pre-filled.
Rent vs buy in Norfolk
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $311K home.
Other cities in the Virginia Beach, VA metro
Virginia Beach, VA
$425K home$2,098 rent
▲ 3.1% 1 yr
Chesapeake, VA
$424K home$2,063 rent
▲ 3.6% 1 yr
Newport News, VA
$292K home$1,593 rent
▲ 2.9% 1 yr
Hampton, VA
$279K home$1,690 rent
▲ 2.5% 1 yr
Portsmouth, VA
$267K home$1,642 rent
▲ 2.5% 1 yr
Williamsburg, VA
$469K home$2,094 rent
▲ 2.1% 1 yr
Suffolk, VA
$387K home$2,028 rent
▲ 2.8% 1 yr
Yorktown, VA
$480K home$2,049 rent
▲ 2.6% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.