Income & Economy in Norfolk city, VA (23518)
Median Income
$73,899
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,634
Wealth inflow
Population
28,957
Unemployment
3.4%
0.3pp below US avg
IRS migration statistics show a net inflow of about 1,634 for ZIP 23518 (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 23518 (2020–Present)
Since 2020, population declined 0.5%, median income rose 4.2% (inflation-adjusted), home values increased 3.9%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $73,899 |
| Unemployment | 3.4% |
| Establishments | 579 |
| Employees | 7,566 |