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ZIP Code · VA

ZIP 23505

Part of Norfolk, VA
Pop. 28,247·Norfolk City·139th most expensive ZIP in Virginia
Median rent (all units)
$1,709/mo
Year-over-Year
+18.7%
Month-over-Month
+6.4%
vs US Median
-$221
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 23505 · $1,709
More affordable than 57% of US ZIP codes · National median $1,930/mo
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Medians by bedroom

Rent by unit size

Studio
$1,440
1 BR
$1,460
2 BR
$1,650
3 BR
$2,290
4 BR+
$2,690
Research median
$1,650/mo

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

Rent trends

12-month history

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Last updated: May 18, 2026

Annual cost
$20,508/yr
At $1,709/mo median
Location
StateVA
CountyNorfolk City
Demographics

Who lives here

ZIP 23505 (Norfolk, VA) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 33.1% of residents hold a bachelor's degree or higher.

Population
28,247
Median income
$58,579
Median age
32.5
Renters
62.8%
Age distribution
25.7%
28.3%
25.1%
12.1%
Under 1825.7%
18–3428.3%
35–5425.1%
55–648.8%
65+12.1%
Gender
50.5%
49.5%
Male50.5%
Female49.5%
Race & ethnicity
45.6%
34%
13.3%
White45.6%
Black34%
Hispanic13.3%
Asian4%
Other3.1%
Education (25+)
23.7%
34.6%
33.1%
No HS diploma8.7%
HS diploma23.7%
Some college34.6%
Bachelor's+33.1%
Housing tenure
37.2%
62.8%
Owner37.2%
Renter62.8%

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

2021 vs 2026

How ZIP 23505 in Norfolk, VA has changed in 5 years

Income
$54,488 → $58,579
up 7.5%
Population
28,289 → 28,247
down 0.1%
Renter share
67.4% → 62.8%
-4.6 pts
Bachelor's+
33.3% → 33.1%
-0.2 pts
Median age
30.6 → 32.5
+1.9 yrs

On the earnings side, the typical household in ZIP 23505 in Norfolk, VA now reports about $58,579, up from $54,488 in 2021. The renter share has eased from 67.4% to 62.8%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 23505

Last updated: May 18, 2026

ZIP code 23505 covers Norfolk, VA. The median rent here is $1,709/mo as of May 2026. A 1-bedroom rents for a median of $1,460/mo. A 2-bedroom rents for a median of $1,650/mo.

At 35% of local median household income ($58,579/yr), ZIP 23505 ranks as moderate compared to the national benchmark of 30%. Rents have increased 18.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23505?

As of May 18, 2026, the median monthly rent in ZIP 23505 (Norfolk, VA) is $1,709. This is based on aggregated data from public sources and community submissions.

How does ZIP 23505 rent compare to the US average?

ZIP 23505's median rent of $1,709/mo is $221 (11%) below the US national median of $1,930/mo.

How does ZIP 23505 compare to other ZIPs in Virginia?

ZIP 23505 is among the more affordable ZIP codes in Virginia, ranking #139 out of 198 ZIPs at $1,709/mo.

How much income do you need to rent in ZIP 23505?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,709/mo in ZIP 23505. The local median household income is $58,579/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23505?

Rent in ZIP 23505 has increased 18.7% over the past year as of May 18, 2026, putting upward pressure on renter budgets.

Is ZIP 23505 an affordable place to rent?

ZIP 23505 is considered moderate for renters. At $1,709/mo, rent takes approximately 35% of the local median household income ($58,579/yr). The standard benchmark is 30%. ZIP 23505 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23505 residents rent vs. own?

According to Census data, approximately 62.8% of ZIP 23505 households are renters, while 37.2% are owner-occupied. With a majority renter population, ZIP 23505 has a strong rental market.

How does ZIP 23505 compare to the rest of Norfolk?

ZIP 23505 is more affordable than Norfolk overall. At $1,709/mo, it's $39 below the Norfolk citywide median of $1,748/mo.

When was rent data for ZIP 23505 last updated?

Rent data for ZIP 23505 reflects May 18, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Affordability
35%
MODERATE

At $1,709/mo, rent takes ~35% of ZIP 23505's median household income ($58,579/yr). The standard benchmark is 30%.

ZIP 23505 35%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23505 (Norfolk, VA)

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