ZIP Code · VA

ZIP 23505

Part of Norfolk, VA

Pop. 28,247·Norfolk City·160th most expensive ZIP in Virginia

Median rent (all units)

$1,574/mo

Year-over-Year

+9.5%

Month-over-Month

+1.3%

vs US Median

-$358

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 23505 · $1,574

More affordable than 67% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

November. Asking rents in ZIP 23505 usually run 1.3% below trend in November and 1.7% above it in July, about $47 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 23505 is at its highest level since Zillow's records here began in August 2021.

Past year vs. the rest of Virginia

Rent in ZIP 23505 changed +9.5% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 3 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($58,579) is $1,464 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,460); a 2-bedroom is $1,650.

Rank in Norfolk

2nd cheapest of 11 ZIP codes in Norfolk.

From Zillow's monthly rent index (ZORI) for ZIP 23505. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,888/yr

At $1,574/mo median

Location

CityNorfolk

StateVA

CountyNorfolk City

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 9.5% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+9.5% YoY, +1.3% MoM), not inventory.

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

2022 vs 2026

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

Rent

$1,200 → $1,574

up 31.2%

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

Across the past five years, the going rent in ZIP 23505 in Norfolk, VA has shifted from $1,200 to $1,574, up 31.2% since 2022. On the earnings side, the typical household in ZIP 23505 in Norfolk, VA now reports about $58,579, up from $54,488 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has eased from 67.4% to 62.8%, with owner-occupied housing accounting for the remainder. For context, the 2022 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 23505 in Norfolk, VA reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 23505

Last updated: October 17, 2026

ZIP code 23505 covers Norfolk, VA. The median rent here is $1,574/mo as of October 2026. A 1-bedroom rents for a median of $1,460/mo. A 2-bedroom rents for a median of $1,650/mo.

At 32% of local median household income ($58,579/yr), ZIP 23505 ranks as moderate compared to the national benchmark of 30%. Rents have increased 9.5% over the past year.

FAQ

Frequently asked questions

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 $63,000/year (about $30/hour full-time) to afford the median rent of $1,574/mo in ZIP 23505. The local median household income is $58,579/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 23505?

Rent in ZIP 23505 has risen 9.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in August 2021.

When is the cheapest time to rent in ZIP 23505?

Asking rents in ZIP 23505 are usually lowest in November, about 1.3% below their yearly trend, and highest in July, about 1.7% above it. At today's median that is a gap of roughly $47 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 23505 compare to other ZIPs in Virginia?

ZIP 23505 is one of the more affordable among Virginia ZIP codes for rent, ranking #160 of 194 at $1,574/mo. Over the year to September 2026, rent in ZIP 23505 changed +9.5%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.