ZIP 23518 - 860Z200US23518 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 23518 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of what to expect. Located in Norfolk, Virginia, this area is home to nearly 29,000 residents and provides a mix of suburban appeal and economic opportunity. Using the latest 2023 data, we’ll break down population trends, income levels, housing costs, and cultural diversity to help you make informed decisions. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights will guide your next steps.

Population & Households

ZIP code 23518 has a total population of 28,957, spread across 12,715 households. This indicates an average household size of roughly 2.3 people, suggesting a community of small families, couples, and individuals. With 13,911 total housing units in the area, there’s a modest vacancy rate, pointing to a relatively stable demand for housing. For families and individuals looking to settle here, this population density offers a balance of community engagement without the overcrowding often found in larger urban centers.

Income & Housing Costs

The median household income in ZIP 23518 stands at $73,899, reflecting a solid economic base for the area. This income level supports a comfortable lifestyle for many residents and signals potential spending power for local businesses. On the housing front, the median home value is $280,200, which positions this ZIP code as a moderately priced market—ideal for first-time buyers or investors seeking value. For renters, the median rent is $1,348 per month, which aligns with the income levels and suggests affordability for a significant portion of the population. These figures provide a practical benchmark for assessing whether this area fits your financial goals.

Race & Ethnicity

ZIP 23518 is a culturally diverse community, with a racial and ethnic composition that reflects a blend of backgrounds. White residents make up 59.53% of the population, followed by Black residents at 21.09%. Hispanic or Latino individuals account for 8.99%, while Asian residents comprise 4.8%. This diversity creates a vibrant social fabric, offering opportunities for cultural exchange and community connection. For businesses, this mix can translate into a varied customer base, while homebuyers may appreciate the inclusive atmosphere.

Key Facts

• Total population: 28,957 residents in 2023.
• Total households: 12,715, averaging about 2.3 people per household.
• Total housing units: 13,911, with a small vacancy rate indicating steady demand.
• Median household income: $73,899, supporting a stable local economy.
• Median home value: $280,200, offering a moderate entry point for buyers.
• Median rent: $1,348, aligning with income levels for affordability.
• Diverse population: 59.53% White, 21.09% Black, 8.99% Hispanic, 4.8% Asian.

What This Means for You

For homebuyers, ZIP 23518 presents an attractive option with median home values at $280,200, which could be within reach for many, especially with a median household income of $73,899. The area’s diversity and manageable population size create a welcoming environment for families and individuals alike. Real estate investors and agents will find value in the stable housing demand, as evidenced by the low vacancy rate among the 13,911 housing units. The rental market, with a median rent of $1,348, also offers potential for steady returns. Small-business owners can tap into a diverse customer base of nearly 29,000 residents, supported by solid local income levels—ideal for retail, services, or dining ventures. Analysts can use these metrics as a foundation for deeper market studies, focusing on trends in income growth or housing turnover. Whatever your role, ZIP 23518 offers a balanced mix of opportunity and stability.

Run This Study Yourself

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