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ZIP Code · VA

ZIP 23518

Part of Norfolk, VA
Pop. 29,746·Norfolk City·105th most expensive ZIP in Virginia
Median rent (all units)
$1,998/mo
Year-over-Year
+4.2%
Month-over-Month
+0.3%
vs US Median
+$33
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 23518 · $1,998
More expensive than 60% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,450
1 BR
$1,470
2 BR
$1,660
3 BR
$2,300
4 BR+
$2,710
Research median
$1,660/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
$23,976/yr
At $1,998/mo median
Location
StateVA
CountyNorfolk City
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.2% YoY, +0.3% MoM), not inventory.
Demographics

Who lives here

ZIP 23518 (Norfolk, VA) is majority owner-occupied, 34.3% of residents hold a bachelor's degree or higher.

Population
29,746
Median income
$77,594
Median age
37.4
Renters
41%
Age distribution
20.1%
26.4%
23%
13.6%
16.9%
Under 1820.1%
18–3426.4%
35–5423%
55–6413.6%
65+16.9%
Gender
50.5%
49.5%
Male50.5%
Female49.5%
Race & ethnicity
61.5%
21.9%
White61.5%
Black21.9%
Hispanic9%
Asian4.3%
Other3.3%
Education (25+)
25.3%
32.2%
34.3%
No HS diploma8.2%
HS diploma25.3%
Some college32.2%
Bachelor's+34.3%
Housing tenure
59%
41%
Owner59%
Renter41%

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

2021 vs 2026

How ZIP 23518 in Norfolk, VA has changed in 5 years

Rent
$1,307 → $1,998
up 52.9%
Income
$65,286 → $77,594
up 18.9%
Population
28,602 → 29,746
up 4.0%
Renter share
45% → 41%
-4.0 pts
Bachelor's+
31.9% → 34.3%
+2.4 pts
Median age
38.1 → 37.4
-0.7 yrs

Rent in ZIP 23518 in Norfolk, VA has climbed 52.9% since 2021, going from about $1,307 per month to roughly $1,998 today. Local incomes tracked alongside that move, going from a median of $65,286 in 2021 to $77,594 more recently. Rent outpaced income growth by roughly 34.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 28,602 to 29,746 between 2021 and 2024, a 4.0% change. About 41% of households rent today, against 45% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 31.9% to 34.3%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 23518 in Norfolk, VA market of 2021.

Community

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Local insights

Tips for renters in ZIP 23518

About renting in ZIP 23518

Last updated: July 20, 2026

ZIP code 23518 covers Norfolk, VA. The median rent here is $1,998/mo as of July 2026. A 1-bedroom rents for a median of $1,470/mo. A 2-bedroom rents for a median of $1,660/mo.

At 31% of local median household income ($77,594/yr), ZIP 23518 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23518?

As of July 20, 2026, the median monthly rent in ZIP 23518 (Norfolk, VA) is $1,998. This is based on aggregated data from public sources and community submissions.

How does ZIP 23518 rent compare to the US average?

ZIP 23518's median rent of $1,998/mo is $33 (2%) above the US national median of $1,965/mo.

How does ZIP 23518 compare to other ZIPs in Virginia?

ZIP 23518 falls in the middle range for Virginia, ranking #105 out of 198 ZIPs at $1,998/mo.

How much income do you need to rent in ZIP 23518?

To keep rent at or below 30% of gross income, you would need to earn at least $80,000/year (~$38/hour full-time) to afford the median rent of $1,998/mo in ZIP 23518. The local median household income is $77,594/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23518?

Rent in ZIP 23518 has increased 4.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23518 an affordable place to rent?

ZIP 23518 is considered moderate for renters. At $1,998/mo, rent takes approximately 31% of the local median household income ($77,594/yr). The standard benchmark is 30%. ZIP 23518 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23518 residents rent vs. own?

According to Census data, approximately 41% of ZIP 23518 households are renters, while 59% are owner-occupied. ZIP 23518 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 23518 compare to the rest of Norfolk?

ZIP 23518 is pricier than Norfolk as a whole. At $1,998/mo, it's $246 above the Norfolk citywide median of $1,752/mo.

When was rent data for ZIP 23518 last updated?

Rent data for ZIP 23518 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
31%
MODERATE

At $1,998/mo, rent takes ~31% of ZIP 23518's median household income ($77,594/yr). The standard benchmark is 30%.

ZIP 23518 31%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23518 (Norfolk, VA)

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