Affordable
Expensive
Expensive
Colorblind friendly
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These days, finding an affordable place to live in the Park Place area can be challenging. Home prices in Park Place are now at a median cost of $302,952, lower than the Norfolk average of $315,335.
The average cost of rent is $1,332/mo in Park Place, primarily driven by the current value of real estate in the Park Place area. In Park Place, 58.55% of households rent, and 26.38% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Park Place is $4,583 per month. Households that rent pay about 29.08% of their income on rent here. Park Place’s most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- Colonial Place Riverview, Norfolk, VA: higher priced homes
- Highland Park, Norfolk, VA: equally priced homes
- Ghent, Norfolk, VA: higher priced homes
- Lindenwood, Norfolk, VA: less expensive homes
- Ghent Square, Norfolk, VA: higher priced homes
- Lamberts Point, Norfolk, VA: equally priced homes
- Larchmont-Edgewater, Norfolk, VA: higher priced homes
- Downtown Norfolk, Norfolk, VA: higher priced homes
- Fairmont Park, Norfolk, VA: less expensive homes
- Central Brambleton, Norfolk, VA: less expensive homes
Neighborhoods with Similar Populations
- Spring Creek, San Antonio, TX: less expensive homes
- The Lanes, Waltham, MA: higher priced homes
- Highlands, Manchester, NH: equally priced homes
- Thornwood, South Elgin, IL: higher priced homes
- Bowman, Louisville, KY: higher priced homes
- Singing Arrow, Albuquerque, NM: less expensive homes
- Minnehaha, Spokane, WA: higher priced homes
- Marston, Littleton, CO: higher priced homes
- Madison Condominium, Falls Church, VA: higher priced homes
- Lakeshore, Jacksonville, FL: less expensive homes
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