Norfolk, VA Real Estate
According to census data in the year 2000 there were 94,416 housing units in Norfolk.
This represents a 4.4% decline from 98,762 in 1990.
Of those housing units, 94,416 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Norfolk is about 45.6%.
Norfolk's vacancy rate, including seasonal lodging, is about 8.7%.
Average household size is 2.45 people.
The majority of houses, apartments or condos in Norfolk were built after 1959.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.40% |
| One Bedroom | 17.60% |
| Two Bedrooms | 34.40% |
| Three Bedrooms | 31.60% |
| Four Bedrooms | 11.80% |
| Five Bedrooms or more | 2.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.56 |
| Median year structure was built | 1954 |
| Median Value of occupied units | $88,400 |
| Median Price asked for vacant units | $74,200 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.35 |
| Median year structure was built | 1965 |
| Median Monthly Rent asked for vacant units | $424 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.40% |
| Second Mortgage | 10.60% |
| Home Equity Loan | 6.60% |
| Simple Mortgage | 54.40% |
| Debt Free | 28.10% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 21.1% |
