Affordable
Expensive
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These days, finding an affordable place to live in the Downtown Norfolk area can be challenging. Home prices in Downtown Norfolk are now at a median cost of $364,977, higher than the Norfolk average of $315,335.
The average cost of rent is $1,362/mo in Downtown Norfolk, primarily driven by the current value of real estate in the Downtown Norfolk area. In Downtown Norfolk, 81.24% of households rent, and 32.77% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Downtown Norfolk is $5,293 per month. Households that rent pay about 25.73% of their income on rent here. Downtown Norfolk’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- Ghent Square, Norfolk, VA: higher priced homes
- Ghent, Norfolk, VA: higher priced homes
- Central Brambleton, Norfolk, VA: less expensive homes
- Lindenwood, Norfolk, VA: less expensive homes
- Park Place, Norfolk, VA: less expensive homes
- Colonial Place Riverview, Norfolk, VA: equally priced homes
- Highland Park, Norfolk, VA: less expensive homes
- Ballentine Place, Norfolk, VA: less expensive homes
- Lamberts Point, Norfolk, VA: less expensive homes
- Fairmont Park, Norfolk, VA: less expensive homes
Neighborhoods with Similar Populations
- South Modesto Acres, Modesto, CA: equally priced homes
- Fairpark, Salt Lake City, UT: equally priced homes
- Gresham-Northwest, Gresham, OR: higher priced homes
- Haevers Corners, Green Bay, WI: less expensive homes
- Lake Balboa, Van Nuys, CA: higher priced homes
- Mountain Creek, Pflugerville, TX: equally priced homes
- North Lincoln Street, Worcester, MA: higher priced homes
- Oak Grove, Springfield, MO: less expensive homes
- Old West Durham, Durham, NC: higher priced homes
- On Top of The World, Clearwater, FL: less expensive homes
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