Downtown Norfolk, Norfolk, VA Rental Market Trends
Last updated: April 13, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Norfolk is $1,887, a 3.4% increase compared to the previous year, when the average rent was $1,825.
Studio Apartments at $1,650 offer the most budget-friendly option with 652 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 661 square feet for $1,708, balancing privacy and affordability.
Two-beedroom units at $2,194 offer 1,105 square feet, perfect for roommates or small families.
Average rent in Downtown Norfolk, Norfolk, VA
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,887 | 820 sq. ft. |
| Studio | $1,650 | 652 sq. ft. |
| 1 Bed | $1,708 | 661 sq. ft. |
| 2 Beds | $2,194 | 1,105 sq. ft. |
| 3 Beds | n/a | n/a |
Downtown Norfolk, Norfolk, VA rent trends
Rental prices in Downtown Norfolk, Norfolk, VA have increased by 3.4% over the past year. The average rent moved from $1,825 to $1,887.
What's the typical rent budget in Downtown Norfolk, Norfolk, VA?
The largest share of rentals in Downtown Norfolk, Norfolk, VA (54%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Downtown Norfolk, Norfolk, VA?
1,433 or 80% of the households in Downtown Norfolk, Norfolk, VA are renter-occupied while 370 or 21% are owner-occupied.
Most affordable neighborhoods in Downtown Norfolk?
Fairmount Park $1,022/month
Greenwood - Elmhurst $1,072/month
Naval Station Norfolk $1,234/month
All of these neighborhoods fall below the city wide average of $1,600/month.Most expensive neighborhoods in Downtown Norfolk?
Downtown Norfolk $1,904/month
Freemason $1,910/month
Pinewell $1,974/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Norfolk, VA By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Pinewell | $1,974 |
| Freemason | $1,910 |
| Downtown Norfolk | $1,904 |
| East Ocean View | $1,887 |
| Ghent | $1,858 |
| Colonial Place - Riverview | $1,811 |
| Ghent Square | $1,809 |
| Larchmont - Edgewater | $1,804 |
| Park Place | $1,749 |
| Crown Point | $1,699 |
| Shadywood East | $1,677 |
| Camellia Shores | $1,601 |
| Wards Corner | $1,431 |
| Titustown | $1,398 |
| North Meadowbrook | $1,360 |
| Poplar Halls | $1,348 |
| Bayview | $1,309 |
| Brentwood Forest | $1,241 |
| Naval Station Norfolk | $1,234 |
| Greenwood - Elmhurst | $1,072 |
| Fairmount Park | $1,022 |
Norfolk | Rent Comparison by Neighborhood
Rent in Downtown Norfolk is 45% higher than in Bayview
Downtown Norfolk rent is 1% higher than Norfolk average
Bayview rent is 31% lower than Norfolk average
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Downtown Norfolk apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.