Trend of Rental Yield in Norfolk city, Virginia

Gavop is a real estate, housing & local data & analytics service. We get data from public sources such as the census bureau & private databases. Our data can be used by real estate and organizations to get further insights into local market dynamics. We analyzed rental yield trends from 2009 and 2015 for all counties in the U.S. Rental yields are impacted by factors such as home location, home facilities, employment opportunities, strata levies, and council rates

The key elements in the research are

1. Median Gross Rent
2. Median Home Value

 

Our key findings

• % Change Population: Norfolk city under performed than Virginia by -3.0
• % Change Population: Norfolk city under performed than US by -1.0
• CAGR Population: Norfolk city under performed than state by -0.4
• CAGR Population: Norfolk city under performed than US by -0.1
• % Change Median Gross Rent: Norfolk city under performed than Virginia by -0.3
• % Change Median Gross Rent: Norfolk city out performed than US by 6.0
• CAGR Median Gross Rent: Norfolk city under performed than state by -0.1
• CAGR Median Gross Rent: Norfolk city out performed than US by 0.9
• % Change Home Value: Norfolk city under performed than Virginia by -1.0
• % Change Home Value: Norfolk city out performed than US by 1.8
• CAGR Home Value: Norfolk city under performed than state by -0.2
• CAGR Home Value: Norfolk city out performed than US by 0.3
• % Change Rental Yield: Norfolk city out performed than Virginia by 1.0
• % Change Rental Yield: Norfolk city out performed than US by 4.0
• CAGR Rental Yield: Norfolk city out performed than state by 0.2
• CAGR Rental Yield: Norfolk city out performed than US by 0.6

County	Norfolk city
Population 2015	245,452
Population 2009	236,071
Population % change	4.0
Population change rank compared to US	1,108
Population change rank compared to Virginia	55
Median Gross Rent 2015	970
Median Gross Rent 2009	811
Median Gross Rent % change	19.6
Median Gross Rent change rank compared to US	915
Median Gross Rent change rank compared to Virginia	46
Home Value 2015	193,400
Home Value 2009	197,100
Home Value % change	-1.9
Home Value change rank compared to US	2,412
Home Value change rank compared to Virginia	96
Rental Yield 2015	6.0
Rental Yield 2009	4.9
Rental Yield % change	21.9
Rental Yield change rank compared to US	582
Rental Yield change rank compared to Virginia	34