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ZIP Code · VA

ZIP 23508

Part of Norfolk, VA
Pop. 19,432·Norfolk City·115th most expensive ZIP in Virginia
Median rent (all units)
$1,925/mo
Year-over-Year
+9.8%
Month-over-Month
-3.3%
vs US Median
-$40
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 23508 · $1,925
More expensive than 56% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,460
1 BR
$1,480
2 BR
$1,680
3 BR
$2,330
4 BR+
$2,740
Research median
$1,680/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
$23,100/yr
At $1,925/mo median
Location
StateVA
CountyNorfolk City
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (9.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+9.8% YoY, -3.3% MoM), not inventory.
Demographics

Who lives here

ZIP 23508 (Norfolk, VA) is roughly split between renters and owners, skews toward younger working-age adults, 58.7% of residents hold a bachelor's degree or higher.

Population
19,432
Median income
$74,885
Median age
25.2
Renters
48.1%
Age distribution
15.2%
50.3%
17.5%
Under 1815.2%
18–3450.3%
35–5417.5%
55–647.5%
65+9.6%
Gender
52%
48%
Male52%
Female48%
Race & ethnicity
51.2%
32.7%
White51.2%
Black32.7%
Hispanic6.9%
Asian4.8%
Other4.4%
Education (25+)
25%
58.7%
No HS diploma6.6%
HS diploma9.7%
Some college25%
Bachelor's+58.7%
Housing tenure
51.9%
48.1%
Owner51.9%
Renter48.1%

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

2021 vs 2026

How ZIP 23508 in Norfolk, VA has changed in 5 years

Rent
$1,492 → $1,925
up 29.0%
Income
$64,878 → $74,885
up 15.4%
Population
21,182 → 19,432
down 8.3%
Renter share
54.1% → 48.1%
-6.0 pts
Bachelor's+
56.6% → 58.7%
+2.1 pts
Median age
22.8 → 25.2
+2.4 yrs

Five years ago, renters in ZIP 23508 in Norfolk, VA paid around $1,492 a month. That figure now sits near $1,925, up 29.0% from the 2021 baseline. Local incomes tracked alongside that move, going from a median of $64,878 in 2021 to $74,885 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 23508 in Norfolk, VA losing about 1,750 residents over the five-year window, down 8.3% on net. The renter share has eased from 54.1% to 48.1%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 56.6% to 58.7% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 23508 in Norfolk, VA market of 2021.

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Local insights

Tips for renters in ZIP 23508

About renting in ZIP 23508

Last updated: July 20, 2026

ZIP code 23508 covers Norfolk, VA. The median rent here is $1,925/mo as of July 2026. A 1-bedroom rents for a median of $1,480/mo. A 2-bedroom rents for a median of $1,680/mo.

At 31% of local median household income ($74,885/yr), ZIP 23508 ranks as moderate compared to the national benchmark of 30%. Rents have increased 9.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23508?

As of July 20, 2026, the median monthly rent in ZIP 23508 (Norfolk, VA) is $1,925. This is based on aggregated data from public sources and community submissions.

How does ZIP 23508 rent compare to the US average?

ZIP 23508's median rent of $1,925/mo is $40 (2%) below the US national median of $1,965/mo.

How does ZIP 23508 compare to other ZIPs in Virginia?

ZIP 23508 falls in the middle range for Virginia, ranking #115 out of 198 ZIPs at $1,925/mo.

How much income do you need to rent in ZIP 23508?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,925/mo in ZIP 23508. The local median household income is $74,885/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23508?

Rent in ZIP 23508 has increased 9.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23508 an affordable place to rent?

ZIP 23508 is considered moderate for renters. At $1,925/mo, rent takes approximately 31% of the local median household income ($74,885/yr). The standard benchmark is 30%. ZIP 23508 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23508 residents rent vs. own?

According to Census data, approximately 48.1% of ZIP 23508 households are renters, while 51.9% are owner-occupied. ZIP 23508 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 23508 compare to the rest of Norfolk?

ZIP 23508 is pricier than Norfolk as a whole. At $1,925/mo, it's $173 above the Norfolk citywide median of $1,752/mo.

When was rent data for ZIP 23508 last updated?

Rent data for ZIP 23508 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
31%
MODERATE

At $1,925/mo, rent takes ~31% of ZIP 23508's median household income ($74,885/yr). The standard benchmark is 30%.

ZIP 23508 31%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23508 (Norfolk, VA)

Recent submissions

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