Norfolk, VA Airbnb Market Data, Statistics, and Occupancy Rates

Norfolk Short-Term Rental Market Overview

Norfolk, VA earns an ROI score of 70 out of 100, reflecting attractive short-term rental potential driven by above-average revenue-to-price ratios and solid occupancy stability. With an average daily rate of $143 and occupancy at 39%—both outperforming the Virginia state average—the market offers a compelling entry point for investors, especially given average home values around $434,764. The city's proximity to military installations, a growing waterfront scene, and coastal tourism create a diverse demand base that supports year-round bookings.

Key Market Statistics

According to Rabbu market data, the Norfolk short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Norfolk

Norfolk attracts STR investors with its favorable revenue-to-price ratio, above-average occupancy relative to the state, and a diversified demand base anchored by military, tourism, and coastal appeal.

Expert Market Assessment

"Norfolk represents a solid opportunity for STR investors willing to navigate pronounced seasonality. Revenue peaks sharply in July at $4,113 per month before tapering to a low of $1,098 in January—a nearly 4x swing that rewards hosts who optimize pricing and minimum stays across seasons. The market's above-average occupancy stability and favorable revenue-to-price dynamics place it in the "Attractive Opportunity" tier, though the average growth trend and balanced supply-demand conditions suggest returns will reward well-managed properties rather than passive operators."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Norfolk

Average revenue by month in Norfolk

Norfolk's revenue is heavily seasonal, peaking at $4,113 in July and bottoming out at $1,098 in January—a spread of roughly $3,000 between the best and worst months. The June–August corridor accounts for a disproportionate share of annual earnings, making summer pricing optimization essential for maximizing returns.

Active Airbnb listings by property size in Norfolk

The market's 391 listings are concentrated in 1-bedroom (116) and 2-bedroom (127) units, which together account for over 62% of supply. Larger properties with 4+ bedrooms are notably scarce at just 44 combined listings, potentially signaling an opportunity for investors willing to target that underserved segment.

Average daily rate (ADR) by property size in Norfolk

ADR scales steeply with size, climbing from $69 for studios to $357 for 5-bedroom homes—a roughly 5x premium. The jump from 2 bedrooms ($119) to 3 bedrooms ($181) represents a particularly strong inflection point where nightly rates begin to meaningfully accelerate relative to additional capacity.

Average RevPAN by property size in Norfolk

Five-bedroom properties deliver the highest RevPAN at $131, far outpacing all other sizes, while 3-bedroom listings come in second at $60. Interestingly, 4-bedroom units trail 3-bedrooms with a $53 RevPAN, suggesting that lower occupancy at that size erodes the ADR advantage.

Average occupancy rates by property size in Norfolk

One-bedroom units lead occupancy at 47%, followed by 2-bedrooms at 42%, indicating that smaller properties stay fullest and offer more predictable cash flow. Larger homes see occupancy drop notably—4-bedroom listings average just 19%—though 5-bedrooms recover to 37%, likely reflecting strong group or event-driven demand.

Average monthly revenue by property size in Norfolk

Monthly revenue rises consistently with bedroom count, from $1,366 for studios to $5,795 for 5-bedroom homes. Three-bedroom properties hit a productive sweet spot at $3,189/month, delivering meaningfully more revenue than 2-bedrooms ($1,959) while requiring less capital outlay than larger configurations.

Average annual revenue by property size in Norfolk

Annual revenue ranges from $16,399 for studios to $69,551 for 5-bedroom properties, with each additional bedroom adding roughly $10,000–$16,000 in yearly income. For investors focused on return potential relative to acquisition cost, 3-bedroom units generating $38,271 annually offer a compelling balance between revenue scale and property pricing.

Most common amenities for Airbnb listings in Norfolk

Parking (99%) and kitchen access (97%) are near-universal among Norfolk listings, reflecting strong guest expectations for self-sufficient stays. The presence of workspace (61%) and pet-friendly listings (54%) suggests a meaningful segment of extended-stay and traveling-with-pets demand, while beach access (32%) and waterfront positioning (13%) serve as premium differentiators.

Understanding Norfolk's ROI Score: 70/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Norfolk's ROI score of 70 out of 100 places it in the "Attractive Opportunity" band, signaling that the market's revenue generation meaningfully outpaces property costs relative to peer markets. The above-average marks in both revenue-to-price ratio and occupancy stability are the primary score drivers, while market growth and supply-demand balance register as average—indicating a maturing market rather than a high-growth frontier. Investors should pair this score with on-the-ground regulatory research and property-level underwriting to validate that the market-wide potential translates to their specific investment.

Short-Term Rental Regulations in Norfolk

Understanding local STR regulations is essential before investing in Norfolk. Here's the current regulatory landscape:

Permit Requirements

The City of Norfolk, Virginia may require short-term rental operators to obtain a permit or register their property before listing on platforms like Airbnb. Investors should verify current permit requirements directly with the Norfolk Department of Planning or the city's zoning office before purchasing a property.

Key Restrictions

Common restrictions in Virginia markets can include occupancy limits, minimum stay requirements, noise ordinances, and off-street parking mandates. HOA rules may impose additional limitations, and some neighborhoods could have overlay districts or zoning requirements that affect STR eligibility, so due diligence at the property level is essential.

Tax Obligations

Short-term rental hosts in Norfolk are typically subject to Virginia's state sales tax as well as local transient occupancy taxes. Many booking platforms collect and remit these taxes automatically, but operators should confirm compliance with both state and local tax authorities to avoid penalties.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Norfolk can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Norfolk's STR market is expected to maintain steady demand, with summer months continuing to drive the bulk of annual revenue. ADR may see modest increases in the 2–4% range as the market matures, while occupancy is likely to hold around 37–42% on an annualized basis. The 45% year-over-year growth in active listings signals growing investor interest, so new entrants should monitor supply dynamics closely to ensure returns remain healthy. Overall, fundamentals remain supportive, though seasonal softness from November through February will continue to require smart pricing strategies."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Norfolk, VA

What is the average Airbnb occupancy rate in Norfolk?

The average Airbnb occupancy rate in Norfolk is currently 39%, which is notably higher than the 34% Virginia state average. Occupancy varies by property size, with 1-bedroom units leading at 47% and studios trailing at 24%. Investors targeting 1- and 2-bedroom properties can generally expect the strongest occupancy performance.

How much do Airbnb hosts make in Norfolk?

On average, Airbnb hosts in Norfolk earn approximately $2,273 per month or $27,286 per year based on trailing 12-month data. Revenue varies significantly by property size—studios average around $1,366/month while 5-bedroom homes can generate roughly $5,795/month. Peak summer months like July push monthly revenue above $4,100, while winter months may dip below $1,200.

Is Norfolk a good market for Airbnb investment?

Norfolk scores 70 out of 100 on Rabbu's ROI Score, placing it in the "Attractive Opportunity" category. The market benefits from an above-average revenue-to-price ratio and solid occupancy stability relative to other Virginia markets. With average home values around $434,764 and annual revenue averaging $27,286, investors should carefully evaluate property-level returns and factor in seasonal revenue swings when underwriting a deal.

What is the average daily rate (ADR) for Airbnb in Norfolk?

The average daily rate for Airbnb listings in Norfolk is $143, which is significantly below the $339 Virginia state average. This reflects Norfolk's positioning as a more affordable coastal market. ADR scales considerably with property size, ranging from $69 for studios up to $357 for 5-bedroom homes.

Are short-term rentals legal in Norfolk?

Short-term rentals operate in Norfolk, VA, but local regulations may require permits, registration, or adherence to specific zoning rules. Regulations can change, so prospective investors should consult the City of Norfolk's planning department and review any applicable HOA restrictions before purchasing a property intended for short-term rental use.

When is peak season for Airbnb in Norfolk?

Peak season in Norfolk runs from June through August, with July being the strongest month at an average of $4,113 in revenue. June and August also perform well at $3,665 and $3,860, respectively. The off-peak season stretches from November through February, when monthly revenue drops to the $1,098–$1,444 range. This pronounced seasonality makes summer pricing strategy critical for maximizing annual returns.

How many Airbnbs are there in Norfolk?

There are currently 391 active Airbnb listings in Norfolk as of April 2026. The market has seen significant growth with a 45% year-over-year increase in active listings. Supply is concentrated in 1-bedroom (116 listings) and 2-bedroom (127 listings) properties, while larger homes with 4+ bedrooms remain relatively scarce.

How is Airbnb revenue calculated in Norfolk?

The annual and monthly revenue figures for Norfolk are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market—not a forward-looking projection. We average each comparable listing's actual revenue per available night (RevPAN) by month over the past year, remove regional outliers, and roll the remainder up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, and how actively the listing is managed.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts by market and property size
• Occupancy rates, average daily rates, and RevPAN metrics across property configurations
• Monthly and annual revenue trends based on trailing 12-month booking performance
• Popular amenity prevalence across active listings in the market
• Home value data sourced from Zillow Home Value Index (ZHVI) for investment context

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month performance and market conditions as of April 2026; actual results may differ as conditions evolve. Local regulations, HOA rules, and tax obligations vary and should be independently verified before making investment decisions.