Norfolk city, VA
ZIP 23503 — Economy & Jobs
Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.
Middle ClassLow Snow Area
Income, employment, industries, and economic trends
Income & Economy in Norfolk city, VA (23503)
Median Income
$62,428
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,724
Wealth inflow
Population
30,559
Unemployment
4.1%
0.4pp above US avg
IRS migration statistics show a net inflow of about 1,724 for ZIP 23503 (Norfolk city, VA) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 23503 (2020–Present)
Since 2020, population declined 6.9%, median income fell 6.4% (inflation-adjusted), home values increased 7.1%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $62,428 |
| Unemployment | 4.1% |
| Establishments | 257 |
| Employees | 1,746 |