23502, Norfolk, VA

The 23502 zip code of Norfolk, VA has a population of over 151,000 and a median home value of $236,500. The average home size in this zip code is 2,851 square feet. There are approximately 104 homes for sale in the 23502 zip code. The average list price per square foot is $128.

The median home equity in the 23502 zip code is $131,000. This means that the typical homeowner in this zip code has over 1/3 of their home equity invested in their house. Home values have increased by an average of 5% each year since 2000. In addition, there are currently only 8 homes for sale that are priced below the median home value ($236,500). This indicates that most homeowners in this area are able to sell their homes at or above their original purchase price.

There are many factors that contribute to the high home values in the 23502 zip code of Norfolk, VA. These include: a strong economy with low unemployment rates; limited supply of properties available for purchase; and high demand from buyers due to excellent schools and amenities nearby such as shopping malls and military bases.