ZIP Code 23505 — Norfolk city, VA Demographics & Data

ZIP code 23505 covers Norfolk, VA in Norfolk city with a population of about 28,983.

At a glance, the area shows median age of 31.9 versus a U.S. median of about 38.9.

It sits in telephone area codes 757, 948; U.S. House district VA-3; the NORFOLK - PORTSMTH - NEWPT NWS media market.

Norfolk, VA sits in a university / college context (near old dominion university (2.1 mi)). Expect stronger interest in student housing, rentals, walkability, transit, and a younger adult age mix versus typical suburban ZIPs.

Median household income in ZIP 23505 is about $55,678 — about 26% below the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 16.0%; unemployment rate near 7.7%; 31.6% of adults with a bachelor’s degree or higher (about 2.1 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Healthcare, Retail trade, and Education; about 7.6% of workers reporting work-from-home (about 7.6 points below the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $318,600 — about 8% below the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $1,089 (about 6% below the U.S. median rent ($1,163)), and owner-occupancy near 36.3% (about 29.1 points below the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 23505 in Norfolk, VA, a household would need roughly $88,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,047. That is about 58% above the local median household income ($55,678), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Climate normals for Norfolk city, VA show little to no average snow and around 45.7 inches of annual precipitation.

IRS migration statistics show a net inflow of about 1,635 for ZIP 23505 (Norfolk city, VA) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.