Denby Park, Norfolk, VA—23523
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Denby Park, Norfolk, VA
As of Oct '25, the median home price in Denby Park, Norfolk, VA is $251,000, with a year-over-year change of 1.7%. This indicates that home prices in Denby Park, Norfolk, VA are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $251,000 | 1.7% |
| Single Family | $251,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $175,000 | 2.9% |
3 Bed | $242,000 | 1.3% |
4 Bed | $300,000 | 0.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Denby Park, Norfolk, VA
As of July '25, Rentcast reports the average rent in Denby Park, Norfolk, VA is $1,630, with a year-over-year rent change of 25.4%. Per bedroom, the median rent as of July '25 in Denby Park, Norfolk, VA is 1-bedrooms: $1,010, 2-bedrooms: $1,150, 3-bedrooms: $1,870, 4-bedrooms: $1,550. The most common rental property sizes in Denby Park, Norfolk, VA are 3-bedroom and 2-bedroom, accounting for 38.0% and 36.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $995 | $1,010 |
| 2 Bed Rent | $1,200 | $1,150 |
| 3 Bed Rent | $1,700 | $1,870 |
| 4 Bed Rent | $800 | $1,550 |
% of Rental Stock
Property Listings — Denby Park, Norfolk, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Denby Park, Norfolk, VA is 38. This is a increase of 17.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $268,000 | 33.0% |
Listing Count | 12 | 0.0% |
| Listings as % of Homes | 0.3% | 0.0% |
Days on Market | 38 | 17.0% |
Demographics — Denby Park, Norfolk, VA
As of the latest ACS Survey released in 2023, Denby Park, Norfolk, VA has a population of 7,700, which has decreased by -4.7% over the past 5 years. Denby Park, Norfolk, VA is a popular place for families, as children make up 31.9% of the population. The area has a poorly educated workforce, with 12.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,700 | -4.7% |
% Under 18 | 31.9% | -14.2% |
% Seniors | 10.0% | 25.0% |
% WFH | 16.7% | 116.9% |
% w/ College Degree | 12.7% | 56.8% |
As of the latest ACS Survey released in 2023, Denby Park, Norfolk, VA is a predominantly black area, with 87.0% of the population identifying as black. The black population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Denby Park, Norfolk, VA is white, making up 6.6% of the population. Foreign-born residents account for 2.0% of the population in Denby Park, Norfolk, VA, and this percentage has decreased by 25.9% 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 | 6.6% | 57.1% |
% Black | 87.0% | -0.3% |
% Hispanic | 2.1% | -48.8% |
% Asian | 0.1% | -93.3% |
% Foreign Born | 2.0% | -25.9% |
Mortgage and Risk — Denby Park, Norfolk, VA
According to HUD data as of 2023, there were 102 mortgage originations in Denby Park, Norfolk, VA, of which 30.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 69.0% above 90% LTV (very high). This implies large mortgage risk in Denby Park, Norfolk, VA. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 102 |
% Conventional Loans | 30.0% |
% Government Loans | 70.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Denby Park, Norfolk, VA
As of 2024, the percent of homes in Denby Park, Norfolk, VA under the Section 8 program is 38.0%. 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 Denby Park, 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 | 1,223 |
Total Units Section 8 | 782 |
% Rentals under Section 8 | 38.0% |
% Occupied Section 8 | 83.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $225 | $995 | $1,220 |
| 2 Bedroom | $190 | $1,200 | $1,390 |
| 3 Bedroom | $230 | $1,700 | $1,930 |
| 4 Bedroom | $1,500 | $800 | $2,300 |
Affordability — Denby Park, Norfolk, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $251,000 |
| Median Household Income | $37,200 |