Norfolk, VA

Population: 246,139
Average annual home appreciation rate: 6.68%
Total of homes for sale in this market: 2,427
Median home price: $202,929
Median Rent: $1,103 per room
Home price range: 41.86% of homes are between $100,001 – $200,000
Median sales price: NO DATA
Number of homes: 242
Median foreclosure sales price: NO DATA
Foreclosure discount: NO DATA
Most common home type: 49.08% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 10.20%
Number of renters: 59.65%
Number of owner occupied: 40.35%
Number people living below poverty level: 19.25%
Unemployment rate: 6.30%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Norfolk area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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