Cost of Living in Norfolk city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Norfolk city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Norfolk city ranks #3,098 of 3,144 counties for affordability (bottom 1%)
Data Story
About Cost of Living in Norfolk city, Virginia
Norfolk rents strain lower-income households
Norfolk's 23.4% rent-to-income ratio ranks among the nation's affordability challenges, exceeding Virginia's 18.6% state average and the national norm. With a median household income of $64,017—more than $10,000 below the national median—Norfolk residents face mounting pressure from $1,246 monthly rents.
Virginia's least affordable major city
Norfolk ranks at the bottom of Virginia's affordability ladder, with a 23.4% rent-to-income ratio that exceeds all state peers in our sample and reflects severe housing cost stress. The combination of lower incomes and urban-level rents creates substantial affordability challenges.
Priciest city with lowest incomes
Norfolk's $1,246 median rent rivals Newport News ($1,285) while the city's median income ($64,017) trails both Newport News ($66,718) and every surrounding rural county. This unfavorable pairing—high rents, lower incomes—makes Norfolk measurably less affordable than neighbors like Northampton ($780 rent) or Nelson ($950 rent).
Housing eats more than one-fifth of pay
Renters dedicate $1,246 monthly to housing on a median income of $64,017, consuming 23.4% of earnings and creating genuine financial strain. Homeowners confront an even steeper climb at $1,568 monthly (29.3% of income), placing homeownership out of reach for median-income households.
Urban vitality requires housing sacrifice
Norfolk's major employment, cultural, and military opportunities come with a 23.4% rent-to-income ratio—the highest affordability burden in our sample. Budget generously for housing (expect $1,246+ monthly rent) or explore more affordable neighborhoods in surrounding counties with shorter commutes.
Cost of Living Advisory: Norfolk city
Affordability Verdict
Norfolk city is affordable for renters, with a median gross rent of $1,246/month representing approximately 23.4% of median household income. The rent burden (GRAPI) stands at 31.0%.
Rent vs. Own
At $1,246/month rent versus $1,568/month in owner costs, renting is roughly $322/month cheaper — a 21% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $49,840/year. For owner costs at the 28% rule, the required income is roughly $67,200/year. With a median household income of $64,017, most households can comfortably afford rent here. Notably, 31.0% of renter households in Norfolk city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Norfolk city sits 4% less expensive than Winchester city ($1,298/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Norfolk city
Rent Burden
23.4%
of gross income
Max Housing (28% Rule)
$1,494
per month
Owner Cost Burden
29.4%
of gross income
The median home in Norfolk city may be a stretch
Median home value is $271,900. Estimated monthly cost: $2,171 vs. your max of $1,494.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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