ZIP 23508
Is your rent fair?
Compare your rent to the local median.
Rent by unit size
Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in ZIP 23508 usually run 0.6% below trend in October and 0.8% above it in April, about $26 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 23508 is at its highest level since Zillow's records here began in November 2015.
Rent in ZIP 23508 changed +10.3% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in ZIP 23508 rose 39.2% while median household income rose 31.9% ($56,753 to $74,885). Rent outpaced income.
Rent in ZIP 23508 is 55.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 12 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($74,885) is $1,872 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,680); a 3-bedroom is $2,330.
9th cheapest of 11 ZIP codes in Norfolk.
ZIP 23507, 1 mile away, rents for 15% less ($1,582/mo), about $3,500 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 23508. 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.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 23508 in Norfolk, VA has changed in 5 years
Five years ago, renters in ZIP 23508 in Norfolk, VA paid around $1,317 a month. That figure now sits near $1,870, up 42.0% 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.
Discussions about ZIP 23508
No discussions yet. Start the conversation.
Tips for renters in ZIP 23508
Last updated: October 17, 2026
ZIP code 23508 covers Norfolk, VA. The median rent here is $1,870/mo as of October 2026. A 1-bedroom rents for a median of $1,480/mo. A 2-bedroom rents for a median of $1,680/mo.
At 30% of local median household income ($74,885/yr), ZIP 23508 ranks as moderate compared to the national benchmark of 30%. Rents have increased 10.3% over the past year.
Frequently asked questions
How much income do you need to rent in ZIP 23508?
Is rent going up or down in ZIP 23508?
When is the cheapest time to rent in ZIP 23508?
Has rent outpaced income in ZIP 23508?
How does ZIP 23508 compare to other ZIPs in Virginia?
How does ZIP 23508 compare to the rest of Norfolk?
At $1,870/mo, rent takes ~30% of ZIP 23508's median household income ($74,885/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Be the first to submit your rent for this ZIP.
No discussions yet.