Norfolk, VA Cost Of Living
Cost Of Living In Norfolk, VA Summary
Cost of living in Norfolk research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Norfolk is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Norfolk is 107, with 100 being the average.
The cost of living index in Norfolk is 1.1x higher than the national average.
Norfolk ranks as the #67 cheapest in Virginia out of 186.
Norfolk ranks as the #3,867 cheapest out of 6,412 in the US.
The median home value in Norfolk is $223,300.
The median income in Norfolk is $56,244.
Table Of Contents
Norfolk's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Norfolk, VA?
According to the most recent data on the cost of living, Norfolk has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Virginia, Norfolk has a cost of living index that's 1.0x higher than Virginia's index of 102.
The standard of living in Norfolk ranks as #67 most affordable out of the 186 places we measured in Virginia. By definition, that implies Norfolk ranks as the #119 most expensive place in the Old Dominion.
For more reading on life in Norfolk, check out:
- Living In Norfolk
- Norfolk Crime Report
- Search Homes For Sale In Norfolk, VA
In Virginia
In America
Norfolk Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Norfolk. Here is how it fairs on each of the criteria:
The Services index in Norfolk is 108.
The Groceries index in Norfolk is 100.
The Health index in Norfolk is 110.
The Housing index in Norfolk is 105.
The Transportation index in Norfolk is 108.
The Utilities index in Norfolk is 109.
| Living Expense | Norfolk | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 107 | 102 | 100 | |
| Services | 108 | 102 | 100 | |
| Groceries | 100 | 98 | 100 | |
| Health | 110 | 102 | 100 | |
| Housing | 105 | 107 | 100 | |
| Transportation | 108 | 95 | 100 | |
| Utilities | 109 | 102 | 100 | |
Norfolk, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Norfolk is $223,300.
The Median Rent in Norfolk is $1,114.
The Median Income in Norfolk is $56,244.
The Home Value To Income in Norfolk is 4.0x.
The Rent To Monthly Income in Norfolk is 0.24x.
| Statistic | Norfolk | Virginia | United States |
|---|---|---|---|
| Median Home Value | $223,300 | $295,500 | $244,900 |
| Median Rent | $1,114 | $1,326 | $1,163 |
| Median Income | $56,244 | $80,615 | $69,021 |
| Home Value To Income | 4.0x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Norfolk, VA Costs By Category
Detailed Norfolk Services Costs Vs. Virginia
Detailed Norfolk Groceries Costs Vs. Virginia
Detailed Norfolk Health Costs Vs. Virginia
Detailed Norfolk Transportation Costs Vs. Virginia
Detailed Norfolk Utilities Costs Vs. Virginia
Norfolk SnackAbility
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Cost Of Living In Cities Around Norfolk
The cost of living varies in the cities and towns around Norfolk. Here's a quick look at the cost of living in the most populous nearby places:
Virginia Beach, VA has a cost of living index of 117, 1.1x Norfolk.
Chesapeake, VA has a cost of living index of 115, 1.1x Norfolk.
Newport News, VA has a cost of living index of 102, 1.0x Norfolk.
| City | Population | Cost Of Living | Vs. Norfolk |
|---|---|---|---|
| Virginia Beach, VA | 457,658 | 117 | 1.1x |
| Chesapeake, VA | 247,172 | 115 | 1.1x |
| Newport News, VA | 185,069 | 102 | 1.0x |
| Hampton, VA | 136,748 | 99 | 0.9x |
| Portsmouth, VA | 97,454 | 104 | 1.0x |
| Poquoson, VA | 12,382 | 113 | 1.1x |
| Smithfield, VA | 8,513 | 111 | 1.0x |
| Carrollton, VA | 7,171 | 114 | 1.1x |
