Foreclosure Homes in Norfolk, VA 23510

Current Market Conditions in Norfolk, VA

The real estate market in Norfolk has shown significant growth over the past few years, driven by an influx of new residents and a booming job market. Properties are selling quickly, with higher demand in neighborhoods close to the waterfront, and new developments are underway to meet the rising need for housing.

Despite the overall rise in housing prices, Norfolk remains relatively affordable compared to other coastal cities, making it an attractive option for homebuyers. As the city's population continues to grow, the housing market is expected to remain strong and may see further appreciation in property values.

Rent Prices In Norfolk, VA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Norfolk, VA, is on a rollercoaster ride. The average rent price in Norfolk, VA, is $1,501.00. Indeed, when looking to rent in Norfolk, VA, you can expect to pay as little as $690.00 or as much as $4,860.00, with the average rent median estimated to be $1,430.00. The good news is that finding an affordable and desirable property to rent in Norfolk, VA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.