Rent to Own Homes near Norfolk, VA

Top Reasons to Live in Norfolk VA

  • Located on the banks of Chesapeake Bay, Norfolk, Virginia, is the home of the world's largest naval base. However, to dismiss this thriving city as only a military town would be a mistake. As Virginia's second-largest city, Norfolk also hosts NATO, four universities, and a variety of renowned cultural institutions. Nearly 1.7 million people have chosen to live in the Norfolk metro area because of its unique blend of heritage, temperate climate, and public waterways.

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  • Housing Market Like many urban areas, the majority of people living in Norfolk rent their homes. In July 2013, 52.27 percent of all properties in Norfolk were rented, while vacancies hover at 6.99 percent. In April 2009, apartment rental vacancies reached an all-time high of 7.3 percent, but the rate had dropped to 6.1 percent by August 2010. For people who would like to join the 40.75 percent who own their homes, beware: the real estate market is on the rise. The median sale price for homes in Norfolk in July 2013 was $193,450, which represented a 23 percent increase from last year. The number of units sold during the same period increased 15 percent to 240. Residents who can't currently afford a mortgage may want to consider rent to own options to secure in-demand housing.
  • Enjoying the City's Outdoor Urban Environment Although Norfolk is a thriving, densely populated city, there are two festival parks, six community parks, and 64 neighborhood parks to explore. The most popular space, Town Point Park, hosts an annual wine festival, Latino music festival, Cajun celebration, and other highly anticipated events. When the park is not reserved, locals enjoy the free Wi-Fi and the peaceful seven acres of land along the Elizabeth River. For those who prefer the waterfront, Norfolk maintains three public beaches: Community, Ocean View, and Sarah Constant Beach Park. All three beaches have picnic areas, showers, restrooms, and lifeguards during the summer. Active outdoor enthusiasts may prefer to skip the beach and visit Lake Drummond, where they can boat, fish, or swim in fresh water. The lake also has several biking and hiking trails for those who want to stay on land.
  • Commuting Norfolk has public buses, ferries, and light rail for commuters, but only 4 percent of the population uses one of these options to commute. Riding in a personal vehicle remains the most popular option, with 14 percent of the population participating in a carpool and 67 percent driving themselves to work. Luckily, most of these commuters don't have far to drive. An estimated 82 percent of commuters spend less than 25 minutes traveling to work each way.
  • Neighborhoods in Norfolk Over 120 distinct neighborhoods cover the 53.7 square miles of land in this waterfront city. While some communities were always part of Norfolk, others were once their own towns that later became city neighborhoods. Each area has its own merits, but the truly unique neighborhoods in Norfolk are often the historic areas built before World War II.