Cost of Living in Norfolk, VA
Housing
The housing market plays a significant role in determining the cost of living in Norfolk, VA.
- Housing Index: 110.0 / 100
- Median Home Price is: $292000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
Considering a move to Norfolk, VA? With a housing index of 110.0, the market lies slightly above average, indicating a potentially competitive landscape. The median home price at 292000 suggests a modest investment requirement for homeownership, while average rents for a 2-bedroom apartment and house at 1800 and 1840 respectively might strain monthly budgets. Additionally, research local amenities and job markets, which often change the desirability and affordability rapidly. Overall, weigh your long-term goals against the current market dynamics to make an informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Norfolk, VA.
- Electricity Price: $15.31 USD (median by state)
- Natural Gas Price: $19.91 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Norfolk, VA could entail higher utility costs. Electricity costs sit at $15.31, while natural gas is priced at $19.91 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Norfolk is a financially viable option for your relocation.