What's a good cap rate in Norfolk?

In Norfolk, cap rates typically run around 6.0% (Virginia state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Norfolk deal lands versus this benchmark.

What's the average rent for a rental in Norfolk?

A typical rental in Norfolk runs about $1,400–$1,850/mo (estimate; varies by neighborhood, size, and condition). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Virginia?

Virginia's effective property tax rate is about 0.82% of value per year — the figure TrueCap applies by default for Norfolk deals. You can override it with the exact local rate.

Norfolk, VA

Norfolk rental property analysis

Norfolk anchors Hampton Roads with the world's largest naval base — military demand creates exceptionally steady, low-vacancy rentals.

Norfolk market snapshot

Balanced market

Mid-range cap rates — cash flow and appreciation are both realistically on the table.

Typical cap rate

6.0%

Virginia state median

Typical rent

$1,400–$1,850/mo

est., SFR / small multi

Typical price

$240,000–$330,000

est., all-in

Property tax

0.82%

Virginia effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Norfolk a good place to buy rentals?

Constant Navy rotation keeps occupancy high and demand predictable; a classic military cash-flow market. Quote coastal/flood insurance.

See the full Virginiainvesting guide — taxes, landlord law & top metros →

Neighborhoods to look at in Norfolk

Ghent

Desirable, historic, steady demand.

Ocean View

Affordable, value-add, near base.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Norfolk deal in 60 seconds

Paste a Norfolk address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Virginia tax and HUD rent so you start from the right assumptions.

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