Income & Economy in Norfolk city, VA (23504)
Median Income
$43,156
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,357
Wealth inflow
Population
24,052
Unemployment
13.8%
10.1pp above US avg
IRS migration statistics show a net inflow of about 1,357 for ZIP 23504 (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 23504 (2020–Present)
Since 2020, population declined 1.2%, median income rose 20.0% (inflation-adjusted), home values increased 14.6%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $43,156 |
| Unemployment | 13.8% |
| Establishments | 283 |
| Employees | 4,382 |