RANK #489 / 996 · POP 236,973 · VA
PROJECTED GROWTH: +0.8%
Norfolk, Virginia, a city with a deep connection to the water, is perhaps best known as home to Naval Station Norfolk, the world's largest naval base. Located at the junction of the Elizabeth River and the Chesapeake Bay, it forms part of the Hampton Roads metropolitan area. Commuting within the region often involves bridges and tunnels, which can lead to traffic congestion during peak hours. The city offers diverse neighborhoods, from historic districts like Ghent with its walkable streets and early 20th-century homes, to beachside communities in Ocean View. Outdoor recreation is abundant, with 144 miles of shoreline, including Chesapeake Bay beachfront, and amenities like the Norfolk Botanical Garden and the Elizabeth River Trail.
Life in Norfolk offers a blend of urban energy and coastal living. The presence of the military, along with institutions like Old Dominion University and Eastern Virginia Medical School, contributes to a steady demand for housing. While public school performance can vary, private school options are available. The local economy is driven by its maritime heritage, military presence, and advancements in healthcare. Recent economic developments include investments in commercial and residential properties, as well as growth in the energy and logistics sectors.
Well below national median
Well below national median
Moderate climate & terrain
Below national median (13x)
Housing looks undervalued at 2.9x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Coastal Virginia Offshore Wind (CVOW) Commercial Project
Dominion Energy
|
$9,800M | Under Construction |
|
MacArthur Center Redevelopment
City of Norfolk
|
$500M | Planned |
|
Portsmouth Marine Terminal Repurposing (Offshore Wind Logistics Hub)
The Port of Virginia
|
$220M | Under Construction |
|
Norfolk Naval Shipyard Combined Heat & Power Plant and Battery Storage
U.S. Navy & Ameresco Federal Solutions
|
$173M | Completed |
|
Community Solar Portfolio (Landfill Solar Farm & Naval Station Norfolk Solar Farm)
City of Norfolk, U.S. Navy
|
$57M | Planned/Completed |
|
Tidewater Gardens Redevelopment
City of Norfolk and Norfolk Redevelopment and Housing Authority
|
$30M | Under Construction |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
Norfolk city has a Boom Town Index score of 51/100, ranking #489 among 996 U.S. counties. With job growth at +2.3% and a median household income of $60,998, it's an above-average county on economic indicators.
The median home value in Norfolk city is $254,200 with median rent at $1,188/month. The income-to-home-value ratio is 0.24, which is less affordable than the national average.
Population growth: -0.7% year-over-year. Job growth: +2.3%. Home values changed +0.3% in the past 12 months.
Yes — 6.0% of Norfolk city's population moved from another state, which is above the national average and indicates strong in-migration.