Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Norfolk City

Learn about the people, housing, costs and businesses in Norfolk City

Median Home$310,176
Median Rent$1,371/month
Population233,596
Leading IndustriesHealthcare · Arts, Food & Hospitality · Education12% healthcare
Home Value Growth⬆⬆+17.4% over 2 years
Young Adults40% of residentstop 2% nationally
Renters54% of occupied units
NotableVeteran Community14% of residents · top 2% nationally
NotableAmenity Score75/100 · highly walkable area
Norfolk City
VA

Frequently Asked Questions

What are today's mortgage rates in Norfolk City?

Mortgage rates for Norfolk City are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

View current rates for Norfolk City
What is the median home price in Norfolk City?

The median home value in Norfolk City is $310k. The median monthly rent is $1,371. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Norfolk City?

Home values in Norfolk City have increased 17.4% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Norfolk City?

Based on a typical all-in ownership cost of $1,462/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $63k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Norfolk City is $68k/year.

Calculate your buying power
What industries drive the economy in Norfolk City?

The largest employment sectors in Norfolk City are public administration (25%) and healthcare (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.

Nearby Areas

Adjacent counties and areas