Fusion at Neon
225 W Olney Rd,
Norfolk, VA 23510
Studio - 3 Beds | $1,564 - $3,510
Rental Market Trends in Norfolk, VA
What is the average rent in Norfolk, VA?
$1,318/month
Average Rent
670 Sq Ft
Average Apartment Size
+3.4%
Increase in the Last Year
As of July 2025, the average rent in Norfolk, VA is $1,318 per month. This is 19% lower than the national average rent of $1,637/month, making renting in Norfolk more affordable than most cities in the US. When you rent an apartment in Norfolk, you can expect to pay about $1,345 per month for a studio, $1,318 for a one-bedroom apartment, and around $1,453 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,849 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Norfolk, VA?
In the past year, rent has increased by 3.4%, which averages out to $46 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Norfolk, VA
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
31%
$700 - $1,000/month
37%
$1,001 - $1,500/month
21%
$1,501 - $2,000/month
7%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Norfolk?
Based on current rent prices, Suburban Acres, Pinehurst Estates and Rose Gardens are the most affordable neighborhoods in Norfolk.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Norfolk?
Based on current rent prices, Lamberts Point, Highland Park and Harbor Walk are the most expensive neighborhoods in Norfolk.
Neighborhood
Average Rent
Average Sq Ft
Which Norfolk neighborhoods have the most rentals available?
The neighborhoods in Norfolk with the most apartments available are Downtown Norfolk, The Granby District and Freemason Street Area .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Norfolk, VA?
Because the average rent in Norfolk is $1,318, you’ll want to make about $4,393 per month or $52,716 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Norfolk, VA is 6.3% lower than the national average. Generally, housing in Norfolk is 18.1% less expensive than the national average, with rent falling between $1,318 - $1,849. You can expect to pay 1.6% less for groceries, 4.0% more for utilities, and 4.1% less for transportation.
How does Norfolk, VA compare to other nearby cities and neighborhoods?
Use the tool below to compare Norfolk, VA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
-
One Bedroom
$2,228/month
$829/month
Two Bedroom
$1,581/month
-
Three Bedroom
$2,024/month
-
Nearby City Rent Trends
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Property Management Companies in Norfolk, VA
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73
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The Lawson Companies
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14
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Frye Properties
-
11
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2,396
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5
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Thalhimer Multifamily
-
49
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Gates Hudson
-
99
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.