Home Price Key
Affordable
Average
Expensive
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 $325,986, higher than the Norfolk average of $234,953.
The average cost of rent is $1,393/mo in Downtown Norfolk, primarily driven by the current value of real estate in the Downtown Norfolk area. While nearly 40.33% of residents own their homes outright in Downtown Norfolk, 74.38% rent.
Housing affordability isn’t just about home prices, though. The average household income in Downtown Norfolk is $6,708 per month. Households that rent pay about 20.77% of their income on rent here. Downtown Norfolk's most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the neighborhood.
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: less expensive homes
- Highland Park, Norfolk, VA: less expensive homes
- Ballentine Place, Norfolk, VA: less expensive homes
- Lamberts Point, Norfolk, VA: equally priced homes
- Fairmont Park, Norfolk, VA: less expensive homes
Neighborhoods with Similar Populations
- South Modesto Acres, Modesto, CA: less expensive homes
- Fairpark, Salt Lake City, UT: less expensive 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: less expensive homes
- North Lincoln Street, Worcester, MA: less expensive homes
- Oak Grove, Springfield, MO: less expensive homes
- Old West Durham, Durham, NC: less expensive homes
- On Top of The World, Clearwater, FL: less expensive homes
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