Cost of living in Norfolk: rent, homes and salary
The cost of living in Norfolk sits 2.1% under the US average. For 2024, the BEA regional price parity (RPP) of the Virginia Beach, VA metro area stands at 97.9, the US at 100, and housing alone at 99.8.
- Level of prices
- 97.9US = 100, BEA 2024
- Price level for housing
- 99.8. Rents, US = 100.
Cost of living index for Norfolk
A regional price parity compares the cost of the same goods and services in one place with the US average, which is set at 100. Norfolk sits within Virginia Beach-Chesapeake-Norfolk, VA-NC, a metro region that BEA prices as one whole. Utilities sit furthest from the US average, at 89.6, or 10.4% below the US.
| Price level, US = 100 | Virginia Beach, VA metro | Virginia | Metro against the US |
|---|---|---|---|
| All items | 97.9 | 101.1 | −2.1% |
| Goods | 96.8 | 100.4 | −3.2% |
| Housing (rents) | 99.8 | 106.8 | −0.2% |
| Utilities | 89.6 | 92.2 | −10.4% |
| Other services | 98.6 | 100.2 | −1.4% |
U.S. Bureau of Economic Analysis, 2024, regional price parities broken out by metro area and state. BEA regional price parities
Norfolk rent
Zillow Observed Rent Index (ZORI) puts the typical asking rent in Norfolk at $1,749 a month. ZORI covers rent on homes listed now, and the figure is +7.0% higher than a year earlier. The US figure is $1,932. Census puts median gross rent at $1,417. That figure covers every renting household, not only new leases. Twelve months of asking rent equal 32% of median household income.
| Rent | Norfolk | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $1,749 | $1,932 |
| Asking rent, 12-month change | +7.0% | |
| Median gross rent, Census ACS 2024 | $1,417 | $1,487 |
| Share of median income, a year of asking rent | 32% | 28% |
Census Bureau American Community Survey 2024 data are one-year estimates; the rent measure is the Zillow Observed Rent Index.
Norfolk home prices
The Zillow Home Value Index (ZHVI) put the value of a typical home at the middle of the market in Norfolk at $310,673 in September 2026. Compared with a year earlier, the figure is up +1.5%, while the US figure is $366,157. That price equals 4.7 years of median household income, while the US figure is 4.5.
| Home prices | Norfolk | United States |
|---|---|---|
| Typical home value, September 2026 | $310,673 | $366,157 |
| 12-month change | +1.5% | +1.2% |
| 10-year change | +62.9% | +77.4% |
| Price to income (years of median income) | 4.7 | 4.5 |
| Price to rent (years of asking rent) | 14.8 | 15.8 |
Days on market, the forecast, and the price chart since 2000: Norfolk housing market.
The salary you need to live in Norfolk
Two questions settle the salary in Norfolk that matches what your pay buys today: where you live, and how much you earn.
- Moving out of
- Salary
See the method and each city lined up next to one another: city cost of living comparison.
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Norfolk cost of living compared with other cities
| City | Level of prices | Housing | Typical rents | Home value, typical |
|---|---|---|---|---|
| Norfolk | 97.9 | 99.8 | $1,749 | $310,673 |
| Virginia Beach | 97.9 | 99.8 | $2,098 | $424,785 |
| Arlington, Virginia | 108.9 | 151.1 | $2,680 | $801,809 |
| Richmond | 97.9 | 99.1 | $1,628 | $361,844 |
| Alexandria | 108.9 | 151.1 | $2,275 | $662,843 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
Price levels: BEA regional price parities (2024), with the US set at 100. For rent, Zillow ZORI. Home values: Zillow ZHVI, September 2026.
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