23511, Norfolk, VA

The 23511 zip code of Norfolk, VA has a median home value of $171,500. This is significantly lower than the national median home value of $217,500. The 23511 zip code also has a low home equity ratio of 0.41%, which is significantly lower than the national average home equity ratio of 0.68%.

There are several factors that may contribute to the low home equity and home prices in the 23511 zip code. One reason may be that many homes in this area were built before 1978, which was a time when construction standards were less stringent and there was more competition for housing stock. Additionally, many homes in this area are located in older neighborhoods that may have fewer potential buyers due to their age and lack of amenities.

Despite these factors, there are some homeowners who have been able to benefit from the low home equity and prices in their area by refinancing or selling their homes at a higher price than they initially purchased them for. Overall, it appears that while the 23511 zip code has lower home values andhome equity ratios compared to other areas within Virginia, it is still an attractive place to live if you can afford it.