ZIP Code · VA

ZIP 23504

Part of Norfolk, VA

Pop. 23,502·Norfolk City·172nd most expensive ZIP in Virginia

Median rent (all units)

$1,457/mo

Year-over-Year

+4.3%

Month-over-Month

-0.4%

vs US Median

-$475

Reported rents

Stable (Monthly)

Be the first to discuss 23504 rents ↓

Most AffordableMost Expensive

ZIP 23504 · $1,457

More affordable than 76% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,260

1 BR

$1,280

2 BR

$1,450

3 BR

$2,010

4 BR+

$2,370

Research median

$1,450/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 23504 is 1.2% below its high of $1,474 in May 2026, at $1,457 as of September 2026.

Past year vs. the rest of Virginia

Rent in ZIP 23504 changed +4.3% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has fallen 4 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($44,659) is $1,116 a month. That is less than HUD's Fair Market Rent for a studio ($1,260).

Rank in Norfolk

1st cheapest of 11 ZIP codes in Norfolk.

From Zillow's monthly rent index (ZORI) for ZIP 23504. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$17,484/yr

At $1,457/mo median

Location

CityNorfolk

StateVA

CountyNorfolk City

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.3% YoY, -0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 23504 (Norfolk, VA) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 27.2% of residents hold a bachelor's degree or higher.

Population

23,502

Median income

$44,659

Median age

Renters

61.1%

Age distribution

27.4%

33.2%

19.6%

Under 1827.4%

18–3433.2%

35–5419.6%

55–649.1%

65+10.6%

Gender

45%

55%

Male45%

Female55%

Race & ethnicity

13.1%

78.3%

White13.1%

Black78.3%

Hispanic4.4%

Asian0.5%

Other3.7%

Education (25+)

15.2%

29.8%

27.8%

27.2%

No HS diploma15.2%

HS diploma29.8%

Some college27.8%

Bachelor's+27.2%

Housing tenure

38.9%

61.1%

Owner38.9%

Renter61.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 23504 in Norfolk, VA has changed in 5 years

Rent

$1,219 → $1,457

up 19.5%

Income

$34,016 → $44,659

up 31.3%

Population

23,417 → 23,502

up 0.4%

Renter share

67.3% → 61.1%

-6.2 pts

Bachelor's+

21.6% → 27.2%

+5.6 pts

Five years ago, renters in ZIP 23504 in Norfolk, VA paid around $1,219 a month. That figure now sits near $1,457, up 19.5% from the 2023 baseline. Median household income climbed from $34,016 to $44,659 between 2021 and 2024, a 31.3% shift. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. The renter share has eased from 67.3% to 61.1%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 21.6% to 27.2% across the same window. Taken together, the five-year picture in ZIP 23504 in Norfolk, VA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

Discussions about ZIP 23504

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 23504

About renting in ZIP 23504

Last updated: October 17, 2026

ZIP code 23504 covers Norfolk, VA. The median rent here is $1,457/mo as of October 2026. A 1-bedroom rents for a median of $1,280/mo. A 2-bedroom rents for a median of $1,450/mo.

At 39% of local median household income ($44,659/yr), ZIP 23504 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23504?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (about $28/hour full-time) to afford the median rent of $1,457/mo in ZIP 23504. The local median household income is $44,659/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 23504?

Rent in ZIP 23504 has risen 4.3% over the past year as of September 2026. It sits 1.2% below its high of $1,474 in May 2026.

How does ZIP 23504 compare to other ZIPs in Virginia?

ZIP 23504 is one of the more affordable among Virginia ZIP codes for rent, ranking #172 of 194 at $1,457/mo. Over the year to September 2026, rent in ZIP 23504 changed +4.3%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.