| Index | Norfolk | Virginia | National |
| Cost of living | 109 | 111 | 100 |
| Groceries | 105 | 103 | 100 |
| Health care | 105 | 103 | 100 |
| Housing | 116 | 129 | 100 |
| Transportation | 109 | 105 | 100 |
| Utilities | 105 | 104 | 100 |
| Lifestyle & Entertainment | 104 | 103 | 100 |
| Household Items | 102 | 102 | 100 |
| Education & Childcare | 116 | 109 | 100 |
Knowing the cost of living in Norfolk allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Norfolk stands at 109, marking it 9% higher than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Norfolk are priced in a manner consistent with other areas. This means that residents of Norfolk can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
The real experts on a city are its residents. That's why we reached out to 28 locals to get their views on the cost of living in Norfolk. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 36% found it budget-friendly with decreasing prices, while 64% said it's simply not affordable as prices have continued to rise.
Is Norfolk an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Norfolk is 17.3% higher than the national average, while the average monthly rent prices are 12% higher than average. The affordability of any location can also be influenced by median income levels. Norfolk has a median household income of $79,127, which is 2.7% lower than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Norfolk, the transportation index stands at 9.3% higher than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Norfolk, the groceries index is 5.1% higher than the national average.
The Norfolk cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $113,964 | $9,497 | $2,659 | $3,419 |
| Renters | $56,298 | $4,692 | $1,314 | $1,689 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Portsmouth, VA | 98,194 | 104 | 3.5% |
| Hampton, VA | 138,888 | 105 | 5.0% |
| Chesapeake, VA | 251,202 | 119 | 18.8% |
| Norfolk, VA | 250,142 | 109 | 9.3% |
| City | Population | Cost of Living Index | National Avg. |
| Longueuil, QC | 249,920 | n/a | |
| Chesapeake, VA | 251,202 | 119 | 18.8% |
| Irving, TX | 248,458 | 103 | 3.5% |
| Garland, TX | 245,211 | 102 | 1.8% |
| Winston-Salem, NC | 255,400 | 94 | 5.7% |
| Norfolk, VA | 250,142 | 109 | 9.3% |
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