Cost of Living in Norfolk city, VA

What does it cost to live in Norfolk city? Income, housing, and affordability breakdown.

Median Income

$60,998

Median Rent

$1,188/mo

Median Home

$254,200

Affordability

321

Housing Cost Breakdown

Owning (20% down, 6.5%)

Mortgage (P&I)$1,285
Property Tax$216
Insurance$85

Total Monthly$1,586
% of Income31.2%

Renting

Median Rent$1,188
Renter's Insurance$25

Total Monthly$1,213
% of Income23.4%

Living in Norfolk city, Virginia

Norfolk city has a median household income of $60,998 with housing costs that represent 31.2% of income for owners and 23.4% for renters. Housing costs exceed the recommended 30% threshold, suggesting affordability challenges.

The affordability index of 321 (100 = median income perfectly covers median housing costs) gives a quick snapshot. Use our calculator for a comprehensive comparison across counties, including taxes, utilities, healthcare, and commute costs.

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Other Counties in Virginia

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: Bureau of Labor Statistics, Bureau of Economic Analysis. Estimates are county-level medians. This is not financial advice.