Rental market snapshot for South Norfolk, Chesapeake

South Norfolk rental market summary

The rental market in South Norfolk, Virginia is showing signs of growth. In July 2023, there were 30 new listings, a significant increase from the previous month. The median rent for the month of July 2023 was $1,615, a 1.3% increase from the previous month and a 4.7% increase from the same time last year. This indicates that the rental market is becoming more competitive and that prices are increasing.

The increasing number of listings and rising prices suggest that the rental market in South Norfolk is becoming more attractive to potential renters. With more options available and higher prices, renters can expect to find better quality housing in the area. This is good news for landlords and investors, as they can expect to see higher returns on their investments.

Median rent for all residential properties in South Norfolk

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The most expensive listings and top trending buildings in South Norfolk

Most Expensive Listings

AddressRent PriceBed / Bath
311 Carver St$2,4004 / 2.5
1212 Triple Crown Cir$2,2503 / 2.0
1104 Porter St$2,0503 / 2.5
4158 Reid St$1,9503 / 2.0
1212 Triple Crown Cir$1,7502 / 2.0

Top Trending Buildings

building nameavg rent price
KPM LLC$1,513

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Bedroom Breakdown in South Norfolk

1 Bedroom
$1,512
MEDIAN RENT
2 Bedroom
$1,700
MEDIAN RENT

South Norfolk neighborhood apartments rents

Uh-oh! Looks like we don't have any data in South Norfolk, Virginia, for studios.

The rental market for 1-bedroom apartments in South Norfolk, Virginia is showing signs of growth. In July 2023, there were two new 1-bedroom listings, indicating an increase in demand for rental units. The median rent for 1-bedroom apartments in July 2023 was $1,512, a 10.4% increase from the median rent in June 2023 of $1,370. This suggests that the rental market is becoming more competitive, with landlords able to increase their prices due to the increased demand.

The rental market for 2-bedroom apartments in South Norfolk, Virginia, saw a slight decrease in rent from June to July 2023. In July 2023, there were 3 new 2-bedroom listings, with a median rent of $1,700. This was a 2.9% decrease from the median rent of $1,750 in June 2023. This suggests that the rental market for 2-bedroom apartments in South Norfolk is relatively stable, with a slight decrease in rent from month to month.

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Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.

As of 2023-07-31, the median rent in South Norfolk is $1,615.
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