Welcome to our 23518 real estate data hub, tailored for investors in Norfolk, VA. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 23518 in Norfolk, VA. Discover Section 8 housing opportunities and challenges to maximize your investment potential in NORFOLK CITY.
Leverage our comprehensive, zip code-specific data to excel in Norfolk, VA real estate investing. Uncover the wealth of information available, and position yourself for success in the Norfolk property market.
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Location Overview
- Zip Code: 23518
- City: Norfolk
- State: VA
- Metro Area: Virginia Beach-Norfolk-Newport News, VA-NC
- County Name: NORFOLK CITY
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Real Estate Market Snapshot
- Average Home Price (All Types): $299,319
- Average Home Price (Single Family Homes): $296,574
- Average Monthly Rental Price (All Types): $1,567
- Price-to-Rent Ratio: 16
- Zillow Projected % appreciation from 4/2023-4/2024: -0.2%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $1,250
- Average 3 Bedroom Section 8 Rental Rates: $1,750
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 19.95
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 14.25
- Number of Units Offered in Section 8 in the County: 2043
- Number of Occupied Units in Section 8 in the County: 1928
- Percentage of Section 8 Units Occupied in the County: 94.40000153%
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Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): 205.87
- Total % Appreciation since 2000 (Government Data): 155.83
- YTD Appreciation (Backwards from 4/2023, Realtor Data): 1.52%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 4.46%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 29.48%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 38.95%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 53.74%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 30.61%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 140.93%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): 4.74%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 9.9%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 37.22%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 50.23%