ZIP Code 23518 — Norfolk, VA Home Prices (2026)
The typical home in ZIP 23518 (Norfolk, Virginia) is worth about $348,000 at roughly $254 per square foot — 7% more expensive than the Norfolk median and 18% more expensive than the typical U.S. home.
How 23518 compares
ZIP 23518 is one of the pricier ZIP codes in Norfolk: its typical home value of $348,000 ranks #3 of the 12 Norfolk ZIP codes we track (the citywide range runs from $262,000 in 23523 to $487,000 in 23507). Per square foot it costs about $254, against $211 for Norfolk as a whole, $221 for Virginia, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 23518 | $348,000 | $254 |
| Norfolk, VA | $324,000 | $211 |
| Virginia | $342,000 | $221 |
| United States | $294,000 | $195 |
Home value by size in 23518
Using this ZIP’s rate of about $254 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $254,000 |
| 1,500 sq ft | $381,000 |
| 2,000 sq ft | $508,000 |
| 2,500 sq ft | $635,000 |
| 3,000 sq ft | $762,000 |
Salary needed to buy a home in ZIP 23518
To buy the typical $348,000 home in ZIP 23518 with 20% down, you need a household income of roughly $95,000 a year (about $2,210 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $112,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $17,400 | $2,750/mo | $118,000/yr |
| 10% (+PMI) | $34,800 | $2,620/mo | $112,000/yr |
| 20% | $69,600 | $2,210/mo | $95,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 23518
At about $254 per square foot, here is roughly how much home different budgets get you in ZIP 23518:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $200k | 790 sq ft | below the local median — condos, smaller or older homes |
| $250k | 980 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1180 sq ft | around the typical home here |
| $400k | 1570 sq ft | around the typical home here |
| $500k | 1970 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 23518 home.
Estimate a specific home in 23518
The estimator below is pre-set to ZIP 23518 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Norfolk ZIP codes by home value
Where 23518 sits among Norfolk’s 12 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 23507 | $487,000 | $211 |
| 2 | 23508 | $384,000 | $224 |
| 3 | 23518 (this page) | $348,000 | $254 |
| 4 | 23505 | $332,000 | $221 |
| 5 | 23510 | $331,000 | $258 |
| 6 | 23517 | $328,000 | $211 |
| 7 | 23503 | $320,000 | $252 |
| 8 | 23502 | $315,000 | $207 |
| 9 | 23509 | $290,000 | $209 |
| 10 | 23513 | $277,000 | $196 |
| 11 | 23504 | $273,000 | $196 |
| 12 | 23523 | $262,000 | $188 |
ZIP 23518 home prices: frequently asked
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What is the price per square foot in 23518? +
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See the full Norfolk home values page, all Virginia cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.