Cost of Living in Norfolk, VA
Norfolk has a cost of living index of 95 (100 = national average), making it more affordable than the national average. The median household income is $48,968 and the median home price is $250,000.
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Norfolk at a Glance
Population
238,005
Cost of Living Index
95
Median Income
$48,968
Median Home Price
$250,000
Property Tax Rate
1.10%
Sales Tax Rate
6.00%
Rent Index
85
State
Virginia
Living in Norfolk
Norfolk offers a cost of living below the national average, making it an attractive option for those looking to stretch their dollar further. The median home price of $250,000 is well within reach for many families.
The combined sales tax rate in Norfolk is 6.00%, and the effective property tax rate is 1.10%. Property taxes are close to the national average.