How much is a home worth in ZIP code 23523?

The typical home in 23523 is worth $257,803, based on the Zillow Home Value Index.

Are home values rising in 23523?

Home values in 23523 are up 2.3% over the past year, and up 5.1% a year over five years.

What is the typical rent in 23523?

A typical home in 23523 rents for about $2,177 a month, a gross rental yield of 10.1%.

What is the property tax rate in 23523?

The effective property tax rate in 23523 is 0.8% — roughly $2,187 a year on a typical home.

ZIP code 23523 has a population of 8,188 and a median household income of $35,533.

HousingHandbookReference data

…

U.S. ZIP Code · VA23523

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

Typical home value

$257,803^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.3%
5-year / yr: +5.1%
10-year / yr: +5.9%

Relative price

vs U.S.: -9.2%
vs metro: -26.8%
vs state: -21.5%

Price history

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

The typical home in 23523 is worth $257,803 — 26.8% below the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 2.3%. Homes here rent for a typical $2,177 a month — a 10.1% 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: $2,177^[2]
Gross yield: 10.1%^[2]
Cap rate: 6.1%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $2,187^[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: 8,188^[3]
Median household income: $35,533^[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: 3
Elementary: 2
Middle: 0
High: 0

Southside STEM Academy at Campostella
Elementary · Grades K–8 · Norfolk City Public Schools
701 students
St. Helena Elementary
Elementary · Grades PK–5 · Norfolk City Public Schools
230 students
Berkley/Campostella Early Childhood Education Center
Prekindergarten · Grades PK · Norfolk City Public Schools
172 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 yield10.1%

Net yield (after ~40% expenses)6.1%

Annual rent$26,124

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$1,304

Loan principal$206,243

Down payment$51,561

Total interest paid$263,051

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 ratio0.78

Monthly cost to own$1,701

Monthly rent$2,177

Owning 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: 26th percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 65th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

2nd for highest rental yield in VAView list →

Frequently asked

How much is a home worth in ZIP code 23523?: The typical home in 23523 is worth $257,803, based on the Zillow Home Value Index.
Are home values rising in 23523?: Home values in 23523 are up 2.3% over the past year, and up 5.1% a year over five years.
What is the typical rent in 23523?: A typical home in 23523 rents for about $2,177 a month, a gross rental yield of 10.1%.
What is the property tax rate in 23523?: The effective property tax rate in 23523 is 0.8% — roughly $2,187 a year on a typical home.
Who lives in 23523?: ZIP code 23523 has a population of 8,188 and a median household income of $35,533.

#Comparable ZIPs

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

23701 vs 23523 →
Portsmouth, VA
Typical home
$260,023
Gross yield
8.6%
23707 vs 23523 →
Portsmouth, VA
Typical home
$252,538
Gross yield
7.0%
27937
NC
Typical home
$266,460
Gross yield
—
23504
Norfolk, VA
Typical home
$269,702
Gross yield
6.7%
23513
Norfolk, VA
Typical home
$271,577
Gross yield
7.4%
23661
Hampton, VA
Typical home
$242,092
Gross yield
7.5%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 23523 against any other ZIP — full side-by-side table.

Compare 23523 →

#Jump to section

U.S. ZIP Code · VA23523

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