So you decided to move to the Mermaid City. Figuring out where to buy a home in the city is complicated even when you know a bit about the area. Learn more about the best neighborhoods in Norfolk, VA.
No matter why you’re moving to Norfolk, VA, figuring out the best place to live can be challenging. While Mermaid City has a reputation for its charming, historic colonial homes, that isn’t the only thing you’ll find in this area.
Believe it or not, Norfolk is a diverse community that offers everything from a vibrant downtown to charming historic places. The first step to finding the right neighborhood is learning as much as you can about the best areas in the city.
Here are the top five neighborhoods you should check out when moving to Norfolk, VA.
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1. Edgewater
Edgewater is one of the most popular Norfolk areas. It’s bordered by the Lafayette River and Elizabeth River and is only five miles away from downtown. It’s also one of the most family-friendly neighborhoods in the city.
According to data from Zillow, the median listing price for Edgewater homes is $389,000. Home values appreciated at a 3.5% rate during the past year and experts forecast a rise in home value of 0.8% within the next year.
This suburban neighborhood features great schools and major foodie-oriented restaurants such as organic farm-to-table food. While living in this area may cost you a pretty penny, it’s a great option for home buyers looking to raise a family.
2. Ghent
We had to feature this neighborhood for its historic character and diverse dining options. You will find many local independent shops in this area from antique stores to specialty retailers.
The median listing price in this neighborhood is $299,900. Last year, the Ghent housing market experienced a decline in value of 0.7% and it’s expected to depreciate another 0.1% within the next year. While Ghent’s house value depreciation rates might make you think twice about buying a home in this area, these rates can help you secure a bargain on your home.
This neighborhood is home to a wide variety of restaurants from an old-school drive-in to Norfolk’s local craft brewery. If you are an art lover, Ghent may be your best option since you can catch performances from the Virginia Symphony and or visit the Chrysler Museum of Art.
3. Downtown
This walkable neighborhood offers a wide array of shops and restaurants to satisfy all your needs.
The median listing price in Downtown Norfolk is $225,000 making it quite affordable considering its location in the center of the city. This housing market appreciated 3.8% last year and another 0.6% home value appreciation rate is forecasted within the next year. The stable appreciation rates and affordability make this neighborhood ideal for home buyers looking to live in the center of it all.
Downtown Norfolk is home to Town Point Park where great festivals take place every year. You can also catch a game at Harbor Park and the Norfolk Scope Arena. This neighborhood is ideal for young professionals looking to live in a central area with easy access to entertainment, dining, and shopping amenities.
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4. Colonial Place
This is a historic neighborhood with a friendly vibe. Many college students choose Colonial Place for its walkability, affordability, and low crime rate.
The median home value for properties in this neighborhood is $273,900. Home values in this market appreciated at an 8.73% rate during the last year and experts forecast a rise in home values of 3.1% within the next year.
This area is a popular residential neighborhood that’s called home by a diverse community. Colonial Place is a great neighborhood for home buyers looking for an affordable quiet place to live.
5. South Bayview
South Bayview is affordable and has a low crime rate. While this neighborhood doesn’t offer many amenities, it’s home to local restaurants to satisfy your palate.
The median home value for South Bayview homes is $201,200 making it one of the most affordable neighborhoods. Last year, this housing market experienced a 4.8% home value appreciation rate and it’s expected for South Bayview homes to rise in value by 1.3% within the next year. The stable and promising appreciation rates make it ideal for home buyers looking to protect their investment.
Residents highlight South Bayview’s dog-friendliness as one of its best features. This area is great for families and young professionals looking for a safe and affordable place to settle down.
Finding the best place to live in Norfolk, VA may be difficult no matter how much you learn about the area. However, you would benefit immensely from working with a local real estate agent such as a Clever Partner Agent. A realtor can provide insight into the best neighborhoods that fit your lifestyle and budget.
After you connect with Clever, a local real estate agent will guide you throughout your home buying process and you may even receive Clever Cash Back to help with your closing costs. Why try to do it all by yourself? Consider contacting Clever to connect with the best agent to buy the perfect home in the Norfolk, VA area.
