Average Rent in Norfolk, VA

Current Versus Historical Norfolk, VA Rents

Norfolk rentals average $1,015 for a 1-bedroom rental to $2,600 for a 4-bedroom rental. The median price of all currently available listings is $1,500, or roughly $1 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $378 (34.46%) year-over-year from $1,097 to $1,475. 1-bedroom rentals prices have decreased by $42 (-3.86%) year-over-year from $1,079 to $1,038. 2-bedroom rentals prices have increased by $132 (10.42%) year-over-year from $1,263 to $1,395. 3-bedroom rentals prices have increased by $185 (10.22%) year-over-year from $1,810 to $1,995. 4-bedroom rentals prices have increased by $225 (9.38%) year-over-year from $2,400 to $2,625. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 12.05% this month. 1-bedroom rents have gone down by 2.20% this month. 2-bedroom rents have gone up by 5.02% this month. 3-bedroom rents have gone up by 2.18% this month. 4-bedroom rents have gone up by 3.96% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$1.55	$1,038	$1,079 (-3.86%)	$960 (8.07%)
2 BR	$1.47	$1,395	$1,263 (10.42%)	$1,094 (27.49%)
3 BR	$1.47	$1,995	$1,810 (10.22%)	$1,477 (35.10%)
4+ BR	$1.32	$2,625	$2,400 (9.38%)	$1,943 (35.08%)

Historical Rents in Norfolk, VA

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Norfolk

There are a total of 3 cities nearby Norfolk. The average rent in Norfolk is currently $2,100 per month. Only one city nearby has an average rent lower than that. Our records show that Portsmouth, VA, with an average rent of $1,473, is the most affordable city nearby. In contrast, the most expensive city near Norfolk, VA is Chesapeake, VA. Monthly rents here are on average $2,173 per month.

Let's compare Norfolk, VA's rent against other top cities nearby by bedroom size. One bedrooms are about 13.30% more affordable. Two bedrooms in Norfolk, VA are about 26.92% more affordable. Finally, rent for three bedrooms are about 11.41% more affordable. Want more information? Check out the top 3 cities near Norfolk, VA in the following chart.

City	Studio	1 Bed	2 Bed	All
Portsmouth, VA	N/A	$1,023	$1,300	$1,473
Virginia Beach, VA	N/A	$1,550	$1,750	$2,100
Chesapeake, VA	N/A	$1,150	$1,650	$2,173

Top Neighborhoods Near Norfolk

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Norfolk

Some of these counties include Portsmouth, VA, Norfolk, VA, and Virginia Beach, VA. The average rent for rentals in these counties is $1,800. That's roughly around $1 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Portsmouth, VA. It's average rent per month is $1,450. Vice versa, with an average rent of $2,173, Chesapeake, VA is the most expensive county by Norfolk, VA.

In comparison, rent for one bedroom listings in Norfolk, VA is 7.02% more affordable than other counties nearby. Finally, rent for two bedrooms in Norfolk, VA is 13.46% more affordable than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Portsmouth, VA	N/A	$1,023	$1,263	$1,450
Norfolk, VA	N/A	$1,015	$1,300	$1,500
Virginia Beach, VA	N/A	$1,550	$1,750	$2,100
Chesapeake, VA	N/A	$1,150	$1,650	$2,173

Top Zipcodes Near Norfolk

There are a total of 2 zipcodes in or near Norfolk, VA. The average rent for all of these zipcodes is $1,675.

The following chart includes the top 2 zipcodes in Norfolk, VA. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
23451, Virginia Beach, VA	N/A	$1,600	$1,795	$2,000
23503, Norfolk, VA	N/A	$1,015	$1,350	$1,350

Frequently Asked Questions - Norfolk Average Rents

What is the average rent price in Norfolk, VA?

The average monthly rental price for Norfolk, VA apartments for rent is approximately $1,500. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Norfolk, VA rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Norfolk, VA.

How much is a studio apartment in Norfolk, VA?

The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in Norfolk.

How much is a one bedroom apartment in Norfolk, VA?

The average monthly rental price for one bedroom apartments is $1,015 and an average price per square feet of $1.55. There are a total of 49 one bedroom apartment listings currently available for rent in Norfolk.

How much is a two bedroom apartment in Norfolk, VA?

The average monthly rental price for two bedroom apartments is $1,300 and an average price per square feet of $1.47. There are a total of 81 two bedroom apartment listings currently available for rent in Norfolk.

How have rent prices in Norfolk, VA changed this year?

Rent prices for rentals in Norfolk, VA can fluctuate yearly. Specifically, studio rental prices have changed by 0.34%, one bedroom rental prices have changed by -0.04%, two bedroom rental prices have changed by 0.10%, and three bedroom rental prices have changed by 0.10% year-over-year.

What is a reasonable rent price in Norfolk, VA?

A reasonable rent price in Norfolk, VA is around $1,200/month. You can search for these reasonably priced rental listings on RentHop.