23502 — Norfolk city, Virginia Market Snapshot
Housing market data for zip code 23502 in Norfolk city, Virginia. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 2 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Norfolk city county page for broader data.
Market Sales Data
2 sales in 2026 (year to date)
Median Sale Price
$222,750
Days to Sell
45
Homes Sold
2
Inventory
N/A
Conforming Loan Available
Most homebuyers in 23502 can comfortably use conventional financing. The median home price of $222,750 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
23502's market is balanced with homes taking an average of 45 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Conforming Loan Feasibility
Most homebuyers in 23502 can comfortably use conventional financing. The median home price of $222,750 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23502 are set at the county level.
2026 Loan Limits — Norfolk city
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $757,850 |
| 2 Units | $1,066,250 | $970,200 |
| 3 Units | $1,288,800 | $1,172,750 |
| 4 Units | $1,601,750 | $1,457,450 |
Affordability Snapshot — Zip 23502
To purchase the median home at $222,750 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,857.
Monthly Payment
$1,857
Income Required
$79,570
Principal & Interest
$1,373/mo
Down Payment (5%)
$11,138
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23502.
Estimated Monthly Payment
$1,529
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