Income & Economy in Norfolk city, VA (23507)
Median Income
$107,650
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+368
Wealth inflow
Population
6,515
Unemployment
3.1%
0.6pp below US avg
IRS migration statistics show a net inflow of about 368 for ZIP 23507 (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.
Historical Trends in 23507 (2020–Present)
Since 2020, population declined 0.2%, median income rose 20.6% (inflation-adjusted), home values increased 19.5%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $107,650 |
| Unemployment | 3.1% |
| Establishments | 153 |
| Employees | 9,737 |