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ZIP Code · VA

ZIP 23507

Part of Norfolk, VA
Pop. 6,645·Norfolk City·150th most expensive ZIP in Virginia
Median rent (all units)
$1,673/mo
Year-over-Year
+15.5%
Month-over-Month
-0.2%
vs US Median
-$292
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 23507 · $1,673
More affordable than 61% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,510
1 BR
$1,530
2 BR
$1,730
3 BR
$2,400
4 BR+
$2,820
Research median
$1,730/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: July 20, 2026

Annual cost
$20,076/yr
At $1,673/mo median
Location
StateVA
CountyNorfolk City
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 15.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+15.5% YoY, -0.2% MoM), not inventory.
Demographics

Who lives here

ZIP 23507 (Norfolk, VA) is roughly split between renters and owners, skews toward younger working-age adults, has a median income above the national average, 73.2% of residents hold a bachelor's degree or higher.

Population
6,645
Median income
$104,295
Median age
34.9
Renters
51.6%
Age distribution
14.9%
35.3%
20.6%
12.7%
16.6%
Under 1814.9%
18–3435.3%
35–5420.6%
55–6412.7%
65+16.6%
Gender
51.2%
48.8%
Male51.2%
Female48.8%
Race & ethnicity
76.9%
White76.9%
Black7.3%
Hispanic5.8%
Asian6.5%
Other3.5%
Education (25+)
18.4%
73.2%
No HS diploma1.9%
HS diploma6.5%
Some college18.4%
Bachelor's+73.2%
Housing tenure
48.4%
51.6%
Owner48.4%
Renter51.6%

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

2021 vs 2026

How ZIP 23507 in Norfolk, VA has changed in 5 years

Income
$82,199 → $104,295
up 26.9%
Population
6,405 → 6,645
up 3.7%
Renter share
58.3% → 51.6%
-6.7 pts
Bachelor's+
76.8% → 73.2%
-3.6 pts
Median age
34.3 → 34.9
+0.6 yrs

Local incomes tracked alongside that move, going from a median of $82,199 in 2021 to $104,295 more recently. Census counts show ZIP 23507 in Norfolk, VA adding about 240 residents over the five-year window, up 3.7% on net. The renter share has eased from 58.3% to 51.6%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 76.8% to 73.2% across the same window.

Community

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Local insights

Tips for renters in ZIP 23507

About renting in ZIP 23507

Last updated: July 20, 2026

ZIP code 23507 covers Norfolk, VA. The median rent here is $1,673/mo as of July 2026. A 1-bedroom rents for a median of $1,530/mo. A 2-bedroom rents for a median of $1,730/mo.

At 19% of local median household income ($104,295/yr), ZIP 23507 ranks as affordable compared to the national benchmark of 30%. Rents have increased 15.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23507?

As of July 20, 2026, the median monthly rent in ZIP 23507 (Norfolk, VA) is $1,673. This is based on aggregated data from public sources and community submissions.

How does ZIP 23507 rent compare to the US average?

ZIP 23507's median rent of $1,673/mo is $292 (15%) below the US national median of $1,965/mo.

How does ZIP 23507 compare to other ZIPs in Virginia?

ZIP 23507 is among the more affordable ZIP codes in Virginia, ranking #150 out of 198 ZIPs at $1,673/mo.

How much income do you need to rent in ZIP 23507?

To keep rent at or below 30% of gross income, you would need to earn at least $67,000/year (~$32/hour full-time) to afford the median rent of $1,673/mo in ZIP 23507. The local median household income is $104,295/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 23507?

Rent in ZIP 23507 has increased 15.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23507 an affordable place to rent?

ZIP 23507 is considered very affordable for renters. At $1,673/mo, rent takes approximately 19% of the local median household income ($104,295/yr). The standard benchmark is 30%. ZIP 23507 falls comfortably within that range.

What percentage of ZIP 23507 residents rent vs. own?

According to Census data, approximately 51.6% of ZIP 23507 households are renters, while 48.4% are owner-occupied. With a majority renter population, ZIP 23507 has a strong rental market.

How does ZIP 23507 compare to the rest of Norfolk?

ZIP 23507 is more affordable than Norfolk overall. At $1,673/mo, it's $79 below the Norfolk citywide median of $1,752/mo.

When was rent data for ZIP 23507 last updated?

Rent data for ZIP 23507 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $1,673/mo, rent takes ~19% of ZIP 23507's median household income ($104,295/yr). The standard benchmark is 30%.

ZIP 23507 19%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23507 (Norfolk, VA)

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