Hilltop, Norfolk, VA—23513
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hilltop, Norfolk, VA
As of Oct '25, the median home price in Hilltop, Norfolk, VA is $265,000, with a year-over-year change of -1.4%. This indicates that home prices in Hilltop, Norfolk, VA are decreasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $265,000 | -1.4% |
| Single Family | $265,000 | -1.5% |
| Condos | $265,000 | -1.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $205,000 | -4.2% |
3 Bed | $260,000 | -1.1% |
4 Bed | $328,000 | 0.6% |
| 5 Bed | $371,000 | 1.1% |
% of Housing Stock
Rental Trends — Hilltop, Norfolk, VA
As of July '25, Rentcast reports the average rent in Hilltop, Norfolk, VA is $1,590, with a year-over-year rent change of -1.9%. Per bedroom, the median rent as of July '25 in Hilltop, Norfolk, VA is studios: $988, 1-bedrooms: $996, 2-bedrooms: $1,270, 3-bedrooms: $1,830, 4-bedrooms: $2,260. The most common rental property sizes in Hilltop, Norfolk, VA are 2-bedroom and 1-bedroom, accounting for 52.6% and 19.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,590 |
| Studio Rent | $925 | $988 |
| 1 Bed Rent | $995 | $996 |
| 2 Bed Rent | $1,240 | $1,270 |
| 3 Bed Rent | $1,800 | $1,830 |
| 4 Bed Rent | $2,200 | $2,260 |
% of Rental Stock
Property Listings — Hilltop, Norfolk, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hilltop, Norfolk, VA is 40. This is a increase of 24.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $297,000 | 4.0% |
Listing Count | 69 | 23.0% |
| Listings as % of Homes | 0.4% | 23.0% |
Days on Market | 40 | 24.0% |
Demographics — Hilltop, Norfolk, VA
As of the latest ACS Survey released in 2023, Hilltop, Norfolk, VA has a population of 30,000, which has decreased by -3.5% over the past 5 years. Hilltop, Norfolk, VA is a moderately popular place for families, as children make up 22.7% of the population. The area has a poorly educated workforce, with 22.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,000 | -3.5% |
% Under 18 | 22.7% | -1.7% |
% Seniors | 13.2% | 22.2% |
% WFH | 6.7% | 116.1% |
% w/ College Degree | 22.3% | 33.5% |
As of the latest ACS Survey released in 2023, Hilltop, Norfolk, VA is a predominantly black area, with 56.7% of the population identifying as black. The black population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Hilltop, Norfolk, VA is white, making up 22.8% of the population. Foreign-born residents account for 9.5% of the population in Hilltop, Norfolk, VA, and this percentage has decreased by 3.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 22.8% | -9.5% |
% Black | 56.7% | 0.2% |
% Hispanic | 11.2% | 6.7% |
% Asian | 5.4% | 3.8% |
% Foreign Born | 9.5% | -3.1% |
Mortgage and Risk — Hilltop, Norfolk, VA
According to HUD data as of 2023, there were 598 mortgage originations in Hilltop, Norfolk, VA, of which 31.0% of loans were conventional mortgages. The average loan-to-value was 84.0%, with 63.0% above 90% LTV (very high). This implies large mortgage risk in Hilltop, Norfolk, VA. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 598 |
% Conventional Loans | 31.0% |
% Government Loans | 69.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Hilltop, Norfolk, VA
As of 2024, the percent of homes in Hilltop, Norfolk, VA under the Section 8 program is 18.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hilltop, Norfolk, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 975 |
Total Units Section 8 | 969 |
% Rentals under Section 8 | 18.9% |
% Occupied Section 8 | 84.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $355 | $995 | $1,350 |
| 2 Bedroom | $300 | $1,240 | $1,540 |
| 3 Bedroom | $340 | $1,800 | $2,140 |
| 4 Bedroom | $350 | $2,200 | $2,550 |
Affordability — Hilltop, Norfolk, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $265,000 |
| Median Household Income | $66,900 |