Median Home Price
$664,551.64
Median Rent
$2,302.9/mo
Price-to-Rent Ratio
24.0
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+1.3%
Price Change (5Y)BETTER
+6.5%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$495,742
Median Home PriceBETTER
$301,780.44
Median RentBETTER
$1,631.91/mo
Price-to-Rent RatioBETTER
15.4
Property Tax RateTIE
0.82%
Price Change (1Y)
+0.3%
Price Change (5Y)
+1.3%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$156,201
Key Differences
Home Prices
Alexandria's median home price of $664,551.64 is higher than Norfolk's $301,780.44 by 120%.
Monthly Rent
Renting in Alexandria costs $2,302.9/mo compared to $1,631.91/mo in Norfolk—a difference of $670.99/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.