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Norfolk is home to Naval Station Norfolk, the largest naval base in the world, and to walkable older neighborhoods like Ghent, Larchmont and Ocean View. The median home sold for $331,000 in September 2026, about $100,000 less than in Virginia Beach.
The value is real if you do your homework on older homes, flood maps and school zones. Below you'll find the numbers, how the neighborhoods compare, commute times to base, and what to check before you buy. Whether you're PCSing, buying your first home or relocating, I'll help you find the right fit.
Prices are holding steady and sales are up. Norfolk runs about $100,000 below Virginia Beach at the median.
Median sale price
$331,000
+1.9% vs last year
Homes sold
251
+5.9% vs last year
Homes for sale
682
+0.9% vs last year
Months of supply
2.81
Still a seller-leaning market
Source: REIN, September 2026, detached and attached homes, compared with September 2025.
Not a highlight reel and not a horror show: a real city that rewards people who show up prepared.
Your neighborhood decides your school zone, your flood risk, your commute and your resale. Start here.
| Neighborhood | The feel | Typical price | Best for | Watch for |
|---|---|---|---|---|
| Ghent | Walkable, tree-lined, early-1900s homes, independent restaurants and coffee | ~$570,000 | Young professionals, couples, EVMS and Sentara staff | Highest prices on this list |
| Park Place & Colonial Place | Stable older neighborhoods, a mix of renovated and unrenovated homes | ~$327,500 | Military buyers wanting value close to NOB | Budget for cosmetic work |
| Larchmont | Ranches and colonials on larger lots near the Lafayette River | ~$470,000 | Families wanting strong resale | Tidal flooding on some streets near the water |
| Ocean View | Chesapeake Bay beaches, a decade of revitalization, new construction mixed in | Varies by block | Beach access below Virginia Beach oceanfront prices | Check the flood map block by block |
| Wards Corner & Norview | Practical and more affordable, close to the Virginia Beach line | Varies by block | Families needing schools or Virginia Beach jobs nearby | Less character than Ghent |
Typical prices are Craig's 2026 estimates for single-family homes and vary by street.
Norfolk is compact, so where you live relative to your duty station matters more than anything else.
Naval Station Norfolk & Little Creek
10–20 min
From Park Place, Larchmont, Ghent or Wards Corner on a normal day
Langley & the Peninsula
+30–60 min
Extra each way at rush hour through the Hampton Roads Bridge-Tunnel
Plan around
7:00 & 15:30
NOB shift changes; I-264 and Military Highway back up too
The value is real. These four checks keep you from getting burned.
Older homes
Many homes were built 1940–1975. Great bones, but get a sharp inspector, and know VA appraisals can flag repairs.
Full monthly payment
Norfolk's property tax rate is higher than Virginia Beach's. Price out principal, interest, taxes, insurance and HOA against your BAH.
Flood map
Not every home needs flood insurance, but some streets in Larchmont, Chesterfield Heights and Ocean View flood at high tide. Check the address first.
School zone
Quality depends on the exact zone. Look at Granby and Norview high schools and Norfolk's magnet programs before you choose a street.
The full report breaks these numbers down by neighborhood and price range, with what they mean for your offer. Free, and it opens right away.
Yes. The median sale price was $331,000 in Norfolk versus $433,750 in Virginia Beach in September 2026. Norfolk's homes are older and its property tax rate is higher, so compare the full monthly payment, not just the price.
Not for every home. It's required with a VA or other federally backed loan if the address is in a high-risk flood zone. Check the FEMA flood map and get a quote before you make an offer.
Park Place, Larchmont, Ghent and parts of Wards Corner usually mean a 10–20 minute commute. Which one fits depends on your budget, school needs and flood comfort.
Yes. Hampton Roads listing agents write VA contracts all the time. A clean VA offer with a lender who knows the process is a strong offer.
Market Report
I want to ensure that you have all the information needed to make the best decisions when it comes to your home goals. When you enter your info in the form you will get instant access to the area's latest market report, complete with sales and demographic trends.
Tips, tools, and straight-up advice to help you buy, sell, and move with confidence.
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