Norfolk housing market: home prices, trends and forecast
Norfolk home prices: in September 2026, Zillow Home Value Index put the value of a typical home in Norfolk, Virginia at $310,673. It was up 1.5% from a year earlier and set a monthly record high.
- Value of a typical home
- $310,673September 2026, Zillow ZHVI
- Change over 12 months
- Since September 2025: +1.5%.
Norfolk home prices since 2000
Steel marks Norfolk; grey marks the United States. Across the months beginning January 2000, Norfolk's typical home increased from $98,066 to $310,673, a ×3.17 rise. During those months, the US rose ×2.99, so Norfolk's increase was higher. The boom high was $221,271 in June 2007, followed by a low of $177,830 in February 2012, −19.6%.
Norfolk median home price by year
The yearly figure averages the twelve monthly values. For 2026, the latest month's value is shown.
| Year | Norfolk | Change on the year | United States |
|---|---|---|---|
| 2000 | $99,546 | $125,745 | |
| 2001 | $104,402 | +4.9% | $134,899 |
| 2002 | $110,980 | +6.3% | $144,276 |
| 2003 | $121,260 | +9.3% | $155,308 |
| 2004 | $143,216 | +18.1% | $169,891 |
| 2005 | $177,588 | +24.0% | $189,732 |
| 2006 | $209,231 | +17.8% | $206,531 |
| 2007 | $220,080 | +5.2% | $208,449 |
| 2008 | $217,228 | −1.3% | $195,574 |
| 2009 | $207,383 | −4.5% | $177,542 |
| 2010 | $198,638 | −4.2% | $171,462 |
| 2011 | $184,931 | −6.9% | $162,508 |
| 2012 | $178,803 | −3.3% | $161,137 |
| 2013 | $181,826 | +1.7% | $171,420 |
| 2014 | $182,291 | +0.3% | $182,996 |
| 2015 | $187,719 | +3.0% | $192,738 |
| 2016 | $190,993 | +1.7% | $204,509 |
| 2017 | $195,920 | +2.6% | $216,767 |
| 2018 | $202,290 | +3.3% | $230,541 |
| 2019 | $209,394 | +3.5% | $242,088 |
| 2020 | $223,296 | +6.6% | $257,151 |
| 2021 | $253,187 | +13.4% | $295,959 |
| 2022 | $275,491 | +8.8% | $340,014 |
| 2023 | $287,102 | +4.2% | $348,160 |
| 2024 | $302,618 | +5.4% | $359,751 |
| 2025 | $306,089 | +1.1% | $362,959 |
| September 2026 | $310,673 | +1.5% | $366,157 |
Current value of a Norfolk home bought in any year
An index-based estimate for a typical home, rather than an appraisal.
Each year's figure averages its twelve monthly index values. The current value is September 2026. Other options: home appreciation calculator.
Are you thinking of selling? Compare local agents through Realtor.com. Advertising disclosure: the site may receive payment for links like this one, but this never affects a number. Disclosure.
Norfolk housing market forecast
For the Virginia Beach, VA metro, Zillow's forecast projects growth of 2.3% across the 12 months from September 2026. It also projects 0.5% over the next three months. That would place Norfolk's typical value of $310,673 near $317,800 after a year.
Zillow's central metro estimate appears here again. No forecast of its own is published by the site. Forecasts like this 12-month forecast have typically differed from the realised change by several percentage points, either above or below. This is not investment advice.
All metro forecasts in one table: housing market forecast.
Norfolk housing market crash risk score
Moderate, 26 of 100
The score uses five conditions that ran high before earlier price falls to rank Norfolk among the 292 cities. Each input is scored from 0 to 100 compared with the other cities. The five scores are then averaged using equal weight. It shows current conditions and does not predict a crash.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | −36.3% | 9 | 20% |
| Time on the market vs 2019 | −21.4% | 8 | 20% |
| Price-to-rent ratio | 14.8 | 25 | 20% |
| Price-to-income ratio | 4.7 | 46 | 20% |
| 12-month price change | +1.5% | 40 | 20% |
This is not investment advice. Scoring method for the inputs: methodology. Rankings for all 292 cities: crash risk by city.
Inventory and Norfolk days on market
In September 2026 the Virginia Beach, VA metro listed 5,760 homes for sale, +14.6% compared with a year earlier and −36.3% compared with the same month in 2019. Homes sold after a median of 44 days on the market, which was −21.4% against 2019, while 21.6% of listings received a price cut.
| Virginia Beach, VA metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 5,760 | +14.6% |
| New listings | 2,566 | |
| Median days on market | 44 | 0% |
| Median list price | $429,950 | +4.9% |
| Share with a price cut | 21.6% |
Realtor.com® Economic Research, metro inventory. Data from Realtor.com. All metro areas: days on market by city.
Norfolk cost of living
According to the Zillow Observed Rent Index, Norfolk's typical asking rent is $1,749 a month, with a year-on-year change of +7.0%. At that rent level, a typical home would cost 14.8 years of rent payments. The typical home is worth 4.7 times the median annual household income of $65,797 (Census ACS 2024). According to BEA, metro prices stand at 97.9 compared with a US average of 100, while housing costs are 99.8.
Norfolk cost of living: rent, prices, and the salary you need to move there.
More housing markets across Virginia
- Virginia Beach $424,785
- Arlington, Virginia $801,809
- $361,844 for Richmond.
- $662,843 for Alexandria.
- $277,549 for Roanoke.
- $511,398 for Charlottesville.
Statewide information: Virginia housing market.
How to read this chart
Every plotted point uses the Zillow Home Value Index for Norfolk. This gives the dollar value for that month of a typical home in the market's middle third. The figures are smoothed and seasonally adjusted. The hollow dot identifies the slider's selected month, while the terracotta dot shows the latest month. No inflation adjustment is applied to the figures, and the index tracks the typical home rather than one specific house. To find a single home's value, use its sale price with the card above or the home appreciation calculator.