Norfolk - 23504

As of October of 2024, Homes in 23504 ZIP Code have appreciated by 5.21%, with the median home value standing at $249,201, according to Zillow.

There are currently 48 active short-term rentals in 23504 ZIP Code. The average daily rate for these rentals is $125. This translates to an annual revenue of $9,292 for short-term rentals as of October of 2024.

23504 ZIP Code is an investor-friendly location with short-term rental regulations favorable to those looking to invest in short-term rentals.

As of October of 2024, the average gross yield for short-term rentals in 23504 ZIP Code is 3.72%. However, potential investors should also consider the average property tax, which stands at 1.09% according to SmartAsset.

The median household income in 23504 is $58,231.

As of October of 2024, the occupancy rate for Airbnb rentals in 23504 is 58%, which is higher than the average occupancy rate for the United States.

As of October of 2024 The unemployment rate in 23504 ZIP Code is 4%, which is lower than the national average of 4.1%.

The most impactful amenities for short-term rentals in 23504 include a Building staff, Record player, and Sauna.

23504 ZIP Code is a popular destination for travelers, with Airbnb demand coming from cities like Richmond, VA (3.25% of all guests), Washington, DC (2.98% of all guests), and Virginia Beach, VA (2.39% of all guests).

The top short-term rental hosts in 23504 ZIP Code include Vacasa Virginia, RoomPicks and Ryan. These hosts have an average rating of 4.57, 4.53 and 4.97 respectively.

The most popular property types in 23504 ZIP Code are 2-bedroom units, with an average daily rate of $125 and an annual revenue of $15,056.

The average booking lead time for short-term rentals in 23504 ZIP Code is 42 days.