Rental numbers for Norfolk city, VA
The typical home here runs -$823 a month at 7.78% with 25% down, breaking even at about 2.0%. 0 of 11 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 6.6%.
- Gross yield
- 6.7%
- typical home, Zillow
- Median ZIP yield
- 6.6%
- 11 ZIPs with full data
- Cash flow
- -$823/mo
- at 7.78%, 25% down
- Typical price
- $313,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,757/mo
- Zillow ZORI, Aug 2026
ZIP codes in Norfolk city
12 with published figures
| 23509Norfolk | $286,000 | $1,966 | 8.2% | 4.5% | -$471 | +10.3% |
| 23504Norfolk | $273,000 | $1,727 | 7.6% | 4.2% | -$519 | +5.1% |
| 23513Norfolk | $275,000 | $1,662 | 7.3% | 3.7% | -$637 | +9.9% |
| 23518Norfolk | $343,000 | $1,947 | 6.8% | 3.4% | -$889 | +6.8% |
| 23502Norfolk | $312,000 | $1,730 | 6.7% | 3.2% | -$847 | +6.9% |
| 23510Norfolk | $329,000 | $1,809 | 6.6% | 3.3% | -$876 | +5.0% |
| 23523Norfolk | $260,000 | $1,410* | 6.5% | 3.3% | -$692 | n/a |
| 23517Norfolk | $327,000 | $1,731 | 6.3% | 3.0% | -$947 | +5.8% |
| 23503Norfolk | $316,000 | $1,660 | 6.3% | 2.9% | -$927 | +8.0% |
| 23508Norfolk | $382,000 | $1,949 | 6.1% | 2.8% | -$1,162 | +8.3% |
| 23505Norfolk | $329,000 | $1,592 | 5.8% | 2.4% | -$1,113 | +7.4% |
| 23507Norfolk | $480,000 | $1,559 | 3.9% | 1.1% | -$2,166 | +1.0% |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +1.3%
- Rent, 12 months
- +7.2%
- Rent minus price growth
- +5.9 pts
- Property tax
- 1.00%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $261,057 | $1,297 |
| Aug 2022 | $282,047 | $1,431 |
| Aug 2023 | $294,214 | $1,477 |
| Aug 2024 | $307,239 | $1,580 |
| Aug 2025 | $308,542 | $1,639 |
| Aug 2026 | $312,614 | $1,757 |
HUD Fair Market Rent
FY2027, Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,470 | $1,488 | $1,667 | $2,298 | $2,710 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 5.0
- 477 units, last 12 months
- National percentile
- 48th
- among US counties
Tools
Test a listing in Norfolk city against today's rate.
Open the calculatorPart of the Virginia Beach, VA metro.
Questions
- Is Norfolk city good for rental property?
- The typical home here runs -$823 a month at 7.78% with 25% down, breaking even at about 2.0%. 0 of 11 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 6.6%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Norfolk city?
- About 1.00% of value, from Census ACS median taxes paid over median home value. On a $313,000 home that is about $3,117 a year.
- What is Fair Market Rent in Norfolk city?
- HUD's FY2027 Fair Market Rent here is $1,488 for a 1-bedroom, $1,667 for a 2-bedroom and $2,298 for a 3-bedroom. Typical cash flow at today's rate is -$823 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.