Fusion at Neon
225 W Olney Rd,
Norfolk, VA 23510
Studio - 3 Beds | $1,836 - $3,924
Rental Market Trends in Norfolk, VA
Updated July 2026
The average rent in Norfolk, VA is $1,394/month.
Rent in Norfolk is 16% lower than the national average rent of $1,663/month, making this one of the less expensive cities statewide.
$1,394/month
Average Rent
671 Sq Ft
Average Size
+5.1%
Change / Year
1,806
Available Apartments
Norfolk rent varies by unit size and layout:
- Studio apartments in Norfolk average $1,395 per month.
- One-bedroom apartments in Norfolk average $1,394 per month.
- Two-bedroom apartments in Norfolk average $1,544 per month.
- Three-bedroom apartments in Norfolk average $1,911 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Norfolk, VA?
In the past year, rent has increased by 5.1%, which averages out to $71 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Norfolk, VA
July 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
27%
$700 - $1,000/month
38%
$1,001 - $1,500/month
22%
$1,501 - $2,000/month
10%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Norfolk?
Based on current rent prices, Suburban Acres, Naval Station Norfolk and North Meadow Brook 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, East Ocean View, Park Crescent and Greenhill Farms 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, Naval Station Norfolk and Wards Corner .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Norfolk, VA?
Because the average rent in Norfolk is $1,394, you’ll want to make about $4,646 per month or $55,752 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 9.7% lower than the national average. Generally, housing in Norfolk is 21.9% less expensive than the national average, with rent falling between $1,394 - $1,911. You can expect to pay 0.1% less for groceries, 4.0% more for utilities, and 5.8% 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.
View the Norfolk Area GuideStudio
-
$1,266/month
One Bedroom
$1,875/month
$1,660/month
Two Bedroom
$1,711/month
$1,949/month
Three Bedroom
$2,188/month
$2,508/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Norfolk We Think You'll Love
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Frequently Asked Questions
What is the average rent in Norfolk?
The average rent in Norfolk is $1,394 per month, which is 16.2% lower than the national average of $1,663.
What is the average rent for a house in Norfolk?
The average rent for a house in Norfolk, VA is $2,190 per month.
What is the average rent for a townhome in Norfolk?
The average rent for a townhome in Norfolk, VA is $1,692 per month.
What is the average rent for a condo in Norfolk?
The average rent for a condo in Norfolk, VA is $1,130 per month.
Are rents going up or down in Norfolk?
Rents in Norfolk, VA are increasing, with prices up 5.1% year-over-year and $71 more per month.
What rent range is most common in Norfolk?
In Norfolk, VA, 38% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.