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These days, finding an affordable place to live in the Norfolk area can be challenging. Home prices in Norfolk are now at a median cost of $604,491, higher than the Colorado average of $579,698.
The average cost of rent is $2,550/mo in Norfolk, primarily driven by the current value of real estate in the Norfolk area. In Norfolk, 7.05% of households rent, and 33.24% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Norfolk is $8,002 per month. Households that rent pay about 31.87% of their income on rent here. Norfolk’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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Cities with Similar Populations
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