Norfolk, VA Relocation Guide (2026)
Cost of living, housing, and income data for Norfolk, sourced from the US Census Bureau.
Salary needed to live in Norfolk →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Population in Norfolk, Virginia runs approximately 236,973. Median household income sits at $60,998, landing below the benchmark median we track across cities (-15%).
For renters and buyers alike, Norfolk offers a median home value of $254,200 (below the tracked median, -22%) and median rent of $1,188 monthly. Local property taxes and current mortgage rates will shape the real cost of buying.
Home prices in Norfolk run about 4.2× median household income — a middle-of-the-road ratio, neither a bargain nor a stretch by our tracked standards. Home values near Norfolk rose 4.94% in the past year, a pace most would call steady rather than hot. Norfolk carries a Relatively Moderate hazard rating from FEMA, on the lower end of what we track.
Personal Affordability Check
Renting at $1,188/mo in Norfolk would take 23.4% of your income.
$337/mo under the 30% guideline.
Buying the median home ($254,200) would take 26.7% of your income toward principal & interest.
$66/mo under the 28% guideline.
Cost of housing in Norfolk
Median home value is $254,200 and median gross rent is $1,188/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Norfolk City rose 4.94% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,713/month.
Climate & home insurance
FEMA rates Norfolk's overall natural-hazard risk as Relatively Moderate. Risk level is a major driver of home insurance premiums.
Safety
Norfolk reported a violent crime rate of 399.4 per 100,000 residents in 2025, per FBI data.
Moving to Norfolk
Planning a move to Norfolk? Compare licensed movers and get quotes based on your origin and move date.
Frequently asked questions
- What is the cost of living in Norfolk, VA?
- In Norfolk, the median home value is $254,200 and median rent is $1,188 per month, against a median household income of $60,998. These figures come from the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Norfolk?
- Comfortably affording rent in Norfolk — where the median runs $1,188/month — typically means earning about $47,520 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Norfolk.
- Is it better to rent or buy in Norfolk?
- In Norfolk, comfortably renting the median unit ($1,188/month) takes about $47,520 in annual income, while buying the median home ($254,200) takes roughly $58,160 a year in principal and interest alone (assumes 20% down, a 30-year fixed loan, and current mortgage rates).
- Is Norfolk safe?
- Norfolk's violent crime rate, per FBI reporting for 2025, stands at 399.4 per 100,000 residents.
See the full salary breakdown for Norfolk →
Cities with a similar cost of living
Matched on median rent and household income within 15% of Norfolk's.