How much is a home worth in ZIP code 23504?

The typical home in 23504 is worth $269,702, based on the Zillow Home Value Index.

Are home values rising in 23504?

Home values in 23504 are up 1.4% over the past year, and up 5.1% a year over five years.

What is the typical rent in 23504?

A typical home in 23504 rents for about $1,509 a month, a gross rental yield of 6.7%.

What is the property tax rate in 23504?

The effective property tax rate in 23504 is 0.8% — roughly $2,211 a year on a typical home.

ZIP code 23504 has a population of 23,502 and a median household income of $44,659.

HousingHandbookReference data

…

U.S. ZIP Code · VA23504

Norfolk city · Virginia Beach-Chesapeake-Norfolk, VA-NC

Typical home value

$269,702^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.4%
5-year / yr: +5.1%
10-year / yr: +5.9%

Relative price

vs U.S.: -5.1%
vs metro: -23.5%
vs state: -17.9%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 23504 is worth $269,702 — 23.5% below the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 1.4%. Homes here rent for a typical $1,509 a month — a 6.7% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,509^[2]
Gross yield: 6.7%^[2]
Cap rate: 4.0%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $2,211^[3]

#Climate risk

FEMA National Risk Index ratings for Norfolk city. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Relatively High
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 23,502^[3]
Median household income: $44,659^[3]

#Migration

Household moves in and out of Norfolk city over a year, from IRS tax-return data.

Net migration: -563^[5]
Moved in: 11,882
Moved out: 12,445

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 6
Elementary: 4
Middle: 1
High: 1

Booker T Washington High
High · Grades 9–12 · Norfolk City Public Schools
955 students
Jacox Elementary
Elementary · Grades PK–5 · Norfolk City Public Schools
567 students
Ruffner School
Middle · Grades 3–8 · Norfolk City Public Schools
540 students
Richard Bowling Elementary
Elementary · Grades PK–5 · Norfolk City Public Schools
462 students
Chesterfield Elementary
Elementary · Grades PK–5 · Norfolk City Public Schools
302 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.7%

Net yield (after ~40% expenses)4.0%

Annual rent$18,113

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,364

Loan principal$215,762

Down payment$53,940

Total interest paid$275,192

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.17

Monthly cost to own$1,773

Monthly rent$1,509

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 27th percentile^[1]
Rental yield: 63rd percentile^[2]
Property tax: 58th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23504?: The typical home in 23504 is worth $269,702, based on the Zillow Home Value Index.
Are home values rising in 23504?: Home values in 23504 are up 1.4% over the past year, and up 5.1% a year over five years.
What is the typical rent in 23504?: A typical home in 23504 rents for about $1,509 a month, a gross rental yield of 6.7%.
What is the property tax rate in 23504?: The effective property tax rate in 23504 is 0.8% — roughly $2,211 a year on a typical home.
Who lives in 23504?: ZIP code 23504 has a population of 23,502 and a median household income of $44,659.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

23513 vs 23504 →
Norfolk, VA
Typical home
$271,577
Gross yield
7.4%
27937 vs 23504 →
NC
Typical home
$266,460
Gross yield
—
23603
Newport News, VA
Typical home
$275,248
Gross yield
—
23846
Surry, VA
Typical home
$275,775
Gross yield
—
23701
Portsmouth, VA
Typical home
$260,023
Gross yield
8.6%
23523
Norfolk, VA
Typical home
$257,803
Gross yield
10.1%

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Pit ZIP 23504 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23504

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