Norfolk, Virginia Income Statistics
Norfolk Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Norfolk Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Norfolk | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,067 | $93,527 | $80,455 |
| Median Personal Income | $48,615 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.8% | 4.3% | 4.8% |
| Six-Figure Earners | 10.2% | 18.3% | 13.9% |
| $200k+ Households | 7.9% | 17.7% | 13.2% |
The median household income in Norfolk is about 29% lower than in Virginia. Income has been growing faster in Norfolk (4.8%/yr) than in Virginia (4.3%/yr).
About 10% of adults in Norfolk earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Norfolk, Virginia grew by 58.2% from 2009 to 2024, reaching $66,067 in 2024. That's an average of about 4.8% per year.
Income Inequality and the Gender Pay Gap in Norfolk
| Metric | Norfolk | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.544 | 0.552 |
| Male Median Income | $56,210 | $78,585 | $69,667 |
| Female Median Income | $48,546 | $62,626 | $56,850 |
| Gender Pay Gap | 13.6% | 20.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Norfolk, it is 0.528, lower than Virginia's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 16% more than women's income in Norfolk, Virginia. Over a 35-year career, a 16% wage gap accumulates to roughly $268,240 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Norfolk, Virginia has narrowed from about 15% to 14% in 2024. Over that period the gap was widest at 16% in 2015, and was narrowest at 12% in 2021. In dollar terms, the gap has widened by $2,342 since 2009.
Employment
| Metric | Norfolk | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 4.1% | 5.2% |
| Working from Home | 10.2% | 18.3% | 15.0% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 6,208 people are unemployed in Norfolk, Virginia.
The average commute time in Norfolk is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Norfolk, Virginia has fallen from 8.7% to 4.7% in 2024. Over that period the rate peaked at 10.0% in 2013.
Norfolk, VA Wealth Compared With Nearby Cities
Norfolk, VA is the 2nd largest of the 4 cities compared here, 233,287 residents against a local median of 137,557. Norfolk, VA's income growth, at 4.8%/yr, runs 22% above the 4.0%/yr typical of the cities around it. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 4.7% against a local median of 5.8%, 20% below it. Every measure here with a clear better direction points the same way, so Norfolk, VA is not trading one advantage for another, it reads stronger than its neighbours across the board. The cities themselves spread 1.2%/yr on income growth, so Norfolk, VA sits at one end of an already wide local range rather than apart from it. Norfolk, VA has the highest income growth of the 4 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Norfolk, VA | 233,287 | $66,067 #3/4 | 4.8%/yr #1/4 | 4.7% #2/4 | 0.528 #2/4 |
| Portsmouth, VA | 97,157 | $60,549 | 3.2%/yr | 6.0% | 0.529 |
| Hampton, VA | 137,557 | $70,017 | 4.4%/yr | 5.8% | 0.524 |
| Chesapeake, VA | 252,549 | $95,849 | 4.0%/yr | 4.6% | 0.537 |
Conclusion
Considering all these factors, Norfolk, Virginia has an overall wealth index grade of C, making it somewhat worse than Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Norfolk, Virginia.
How Rich Is Norfolk, Virginia?
Norfolk has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $66,067, about 29% lower than the Virginia average of $93,527.
How has median household income changed in Norfolk, Virginia?
Between 2009 and 2024, the median household income in Norfolk, Virginia rose 58%, from $41,764 to $66,067. Over the same years, income here outpaced Virginia as a whole: +58% against +55%.
What was the median household income in Norfolk in 2023?
In 2023, the median household income in Norfolk, Virginia was $64,231, up 5% from $61,074 in 2022. The Virginia median that year was $91,420.
What was the median household income in Norfolk in 2020?
In 2020, the median household income in Norfolk, Virginia was $53,628. By 2024 it had risen 23% to $66,067.
What is the Gini coefficient in Norfolk, Virginia?
The Gini coefficient in Norfolk is 0.528. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Norfolk, Virginia?
Since 2009, the income gap between men and women in Norfolk, Virginia has narrowed from about 15% to 14% in 2024. Over that period the gap was widest at 16% in 2015, and was narrowest at 12% in 2021. In dollar terms, the gap has widened by $2,342 since 2009.
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