Downtown Norfolk, Norfolk, VA Rental Market Trends
Last updated: November 18, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Norfolk is $1,836, a 2% increase compared to the previous year, when the average rent was $1,800.
Studio Apartments at $1,593 offer the most budget-friendly option with 652 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 660 square feet for $1,637, balancing privacy and affordability.
Two-beedroom units at $2,171 offer 1,102 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,350 sq ft) for $2,723, suitable for larger households.
Average rent in Downtown Norfolk, Norfolk, VA
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,836 | 822 sq. ft. |
| Studio | $1,593 | 652 sq. ft. |
| 1 Bed | $1,637 | 660 sq. ft. |
| 2 Beds | $2,171 | 1,102 sq. ft. |
| 3 Beds | $2,723 | 1,350 sq. ft. |
Downtown Norfolk, Norfolk, VA rent trends
Rental prices in Downtown Norfolk, Norfolk, VA have increased by 2% over the past year. The average rent moved from $1,800 to $1,836.
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?
1,358 or 79% of the households in Downtown Norfolk, Norfolk, VA are renter-occupied while 363 or 21% are owner-occupied.
Most affordable neighborhoods in Downtown Norfolk?
Greenwood - Elmhurst $948/month
Brentwood Forest $1,242/month
Bayview $1,346/month
All of these neighborhoods fall below the city wide average of $1,552/month.Most expensive neighborhoods in Downtown Norfolk?
Ghent $1,838/month
East Ocean View $1,846/month
Freemason $1,908/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Norfolk, VA By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Freemason | $1,908 |
| East Ocean View | $1,846 |
| Ghent | $1,838 |
| Downtown Norfolk | $1,836 |
| Colonial Place - Riverview | $1,813 |
| Park Place | $1,742 |
| Shadywood East | $1,672 |
| Ghent Square | $1,666 |
| Wards Corner | $1,405 |
| Bayview | $1,346 |
| Brentwood Forest | $1,242 |
| Greenwood - Elmhurst | $948 |
Norfolk | Rent Comparison by Neighborhood
Rent in Downtown Norfolk is 36% higher than in Bayview
Downtown Norfolk rent is the same as Norfolk average
Bayview rent is 27% 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.