Cities with the fastest growing home prices in Norfolk metro area

Written by:
January 19, 2023
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Cities with the fastest growing home prices in Norfolk metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Virginia Beach-Norfolk-Newport News, VA-NC metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. Data was available for 64 cities and towns in Norfolk.

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Stacker

#30. Norfolk, VA

- 1-year price change: +$25,932 (+10.0%)
- 5-year price change: +$88,709 (+45.1%)
- Typical home value: $285,274 (#43 most expensive city in metro)
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#29. Gates, NC

- 1-year price change: +$26,725 (+13.4%)
- 5-year price change: +$78,818 (+53.4%)
- Typical home value: $226,527 (#54 most expensive city in metro)
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#28. Hartfield, VA

- 1-year price change: +$26,948 (+8.6%)
- 5-year price change: +$81,720 (+31.5%)
- Typical home value: $341,477 (#29 most expensive city in metro)
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#27. Dutton, VA

- 1-year price change: +$27,414 (+9.0%)
- 5-year price change: +$81,720 (data not available)
- Typical home value: $332,578 (#32 most expensive city in metro)
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#26. Eure, NC

- 1-year price change: +$27,549 (+15.5%)
- 5-year price change: +$67,844 (+49.4%)
- Typical home value: $205,106 (#56 most expensive city in metro)

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#25. Windsor, VA

- 1-year price change: +$28,090 (+9.0%)
- 5-year price change: +$93,182 (+37.6%)
- Typical home value: $341,009 (#30 most expensive city in metro)
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#24. Chesapeake, VA

- 1-year price change: +$30,264 (+8.8%)
- 5-year price change: +$107,957 (+40.6%)
- Typical home value: $373,570 (#22 most expensive city in metro)
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#23. Shawboro, NC

- 1-year price change: +$30,269 (+9.1%)
- 5-year price change: +$129,182 (+55.2%)
- Typical home value: $363,411 (#25 most expensive city in metro)
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#22. Smithfield, VA

- 1-year price change: +$30,512 (+8.3%)
- 5-year price change: +$106,938 (+36.7%)
- Typical home value: $398,358 (#17 most expensive city in metro)
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#21. Poquoson, VA

- 1-year price change: +$30,636 (+7.4%)
- 5-year price change: +$105,539 (+31.0%)
- Typical home value: $446,293 (#8 most expensive city in metro)

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#20. Poplar Branch, NC

- 1-year price change: +$31,034 (+9.0%)
- 5-year price change: +$132,362 (+54.4%)
- Typical home value: $375,509 (#21 most expensive city in metro)
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#19. Virginia Beach, VA

- 1-year price change: +$32,310 (+9.2%)
- 5-year price change: +$112,713 (+41.9%)
- Typical home value: $381,771 (#19 most expensive city in metro)
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#18. Suffolk, VA

- 1-year price change: +$33,383 (+10.4%)
- 5-year price change: +$113,227 (+47.0%)
- Typical home value: $354,320 (#27 most expensive city in metro)
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#17. Hobbsville, NC

- 1-year price change: +$33,411 (+18.5%)
- 5-year price change: +$71,898 (+50.7%)
- Typical home value: $213,725 (#55 most expensive city in metro)
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#16. Hallieford, VA

- 1-year price change: +$33,809 (+7.9%)
- 5-year price change: +$71,898 (data not available)
- Typical home value: $463,581 (#4 most expensive city in metro)

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#15. Carrollton, VA

- 1-year price change: +$33,835 (+8.3%)
- 5-year price change: +$115,124 (+35.4%)
- Typical home value: $439,997 (#11 most expensive city in metro)
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#14. Corapeake, NC

- 1-year price change: +$34,144 (+15.9%)
- 5-year price change: +$87,968 (+54.7%)
- Typical home value: $248,702 (#49 most expensive city in metro)
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#13. Maple, NC

- 1-year price change: +$34,652 (+9.5%)
- 5-year price change: +$142,815 (+55.5%)
- Typical home value: $400,000 (#16 most expensive city in metro)
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#12. Aydlett, NC

- 1-year price change: +$39,458 (+11.2%)
- 5-year price change: +$139,123 (+55.0%)
- Typical home value: $392,203 (#18 most expensive city in metro)
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#11. Shiloh, NC

- 1-year price change: +$40,138 (+15.0%)
- 5-year price change: +$102,096 (+49.6%)
- Typical home value: $307,867 (#39 most expensive city in metro)

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#10. Coinjock, NC

- 1-year price change: +$41,126 (+10.2%)
- 5-year price change: +$152,071 (+52.3%)
- Typical home value: $442,632 (#10 most expensive city in metro)
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#9. Toano, VA

- 1-year price change: +$44,773 (+11.9%)
- 5-year price change: +$121,326 (+40.5%)
- Typical home value: $421,200 (#13 most expensive city in metro)
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#8. Williamsburg, VA

- 1-year price change: +$44,944 (+11.9%)
- 5-year price change: +$116,831 (+38.0%)
- Typical home value: $423,986 (#12 most expensive city in metro)
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#7. Camden, NC

- 1-year price change: +$46,651 (+14.4%)
- 5-year price change: +$117,702 (+46.6%)
- Typical home value: $370,525 (#23 most expensive city in metro)
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#6. Currituck, NC

- 1-year price change: +$53,541 (+12.8%)
- 5-year price change: +$156,034 (+49.4%)
- Typical home value: $472,104 (#3 most expensive city in metro)

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#5. South Mills, NC

- 1-year price change: +$54,077 (+15.0%)
- 5-year price change: +$129,619 (+45.6%)
- Typical home value: $413,702 (#15 most expensive city in metro)
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#4. Yorktown, VA

- 1-year price change: +$55,390 (+14.1%)
- 5-year price change: +$125,644 (+39.0%)
- Typical home value: $448,189 (#7 most expensive city in metro)
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#3. Knotts Island, NC

- 1-year price change: +$58,377 (+16.3%)
- 5-year price change: +$158,757 (+61.6%)
- Typical home value: $416,679 (#14 most expensive city in metro)
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#2. Seaford, VA

- 1-year price change: +$59,479 (+14.8%)
- 5-year price change: +$125,756 (+37.4%)
- Typical home value: $462,251 (#5 most expensive city in metro)
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#1. Moyock, NC

- 1-year price change: +$65,894 (+15.1%)
- 5-year price change: +$174,282 (+53.1%)
- Typical home value: $502,457 (#2 most expensive city in metro)

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