Norfolk

As of May 2026, Norfolk, Virginia Beach, Chesapeake, Newport News have 3,052 active Airbnb and VRBO listings. This represents a 24% decrease from the previous year.

The average Airbnb or VRBO in Norfolk generates $43K per year. High-performing properties earn $86K/year, while low-performing properties earn $16K/year. The wide revenue variance, coupled with a 24% supply contraction, suggests that current demand is increasingly concentrated within a smaller subset of listings that effectively capture market share.

Average home prices in Norfolk vary by property size: 1-bedroom properties cost approximately $187K, 2-bedroom homes average $237K, 3-bedroom properties are around $339K, and 4+ bedroom homes average $436K. These prices reflect median home values across the Norfolk, Virginia Beach, Chesapeake, Newport News area.

Airbnb and VRBO can be profitable in Norfolk, with an average gross yield of 12% across all properties. High-performing properties achieve yields up to 24%, which is considered top for short-term rental investment. This yield spread highlights that returns are highly sensitive to property-specific optimization, as the market consolidates following recent supply reductions.

The average occupancy rate for Airbnbs and VRBOs in Norfolk is 38%. This occupancy level, combined with an average nightly rate of $279, results in a RevPAR (revenue per available room) of $79 per day.

2-bedroom properties demonstrate the strongest performance in Norfolk, with an average gross yield of 15% and annual revenue of $36K. These properties balance purchase price ($237K), operating costs, and rental demand most effectively in the Norfolk market.

Short-term rental regulations vary by jurisdiction in the Norfolk area. Norfolk: Moderate. Business license required, zoning restrictions apply, some neighborhood limits. Moderate enforcement with complaint-based action. Virginia Beach: Strict. Conditional use permit required, owner-occupancy mandate, 400+ foot spacing rule, annual inspections. Active enforcement with fines and violations. Chesapeake: Lenient. Business license needed, basic zoning compliance. Light enforcement, mostly complaint-driven. Newport News: Moderate. Business license required, zoning restrictions, some area prohibitions. Moderate enforcement through complaints. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Norfolk Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 24% year-over-year, while RevPAR has decreased 14%. This indicates balanced supply-demand dynamics. The synchronized decline in both supply and revenue suggests the market is stabilizing after an adjustment period, preventing further erosion of overall occupancy rates.

Launch around April, 2-3 months before peak summer season (July peaks). This pre-peak timing lets you build reviews when competition is 17% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (December-January) when gaining traction is harder.

The most common amenities in Norfolk listings include: Air Conditioning (99%), Kitchen (90%), Washing Machine (80%), Tv (78%), Heating (61%). Amenities that boost revenue the most include Pool, Hot Tub, Washing Machine, with Pool properties earning approximately 50% more ($87K/year vs $58K/year).

Monthly estimated revenue per listing in Norfolk over the last 12 months: May: $2K, June: $4K, July: $4K, August: $4K, September: $2K, October: $2K, November: $2K, December: $2K, January: $992, February: $1K, March: $2K, April: $3K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Norfolk is $279, up 14% year-over-year. By property size: 1-bedroom properties average $145/night, 2-bedroom properties average $203/night, 3-bedroom properties average $285/night, 4+ bedroom properties average $530/night. Rates peak in July and are lowest in January.

Guests in Norfolk book an average of 40 days in advance, down 5% from last year. By property size: 1-bedroom: 36 days, 2-bedroom: 38 days, 3-bedroom: 41 days, 4+ bedroom: 45 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Norfolk Airbnb and VRBO market has seen the following changes: supply declined 24%, revenue per listing decreased 14%, occupancy rose 2%, average nightly rates increased 14%, and lead time decreased 5%. These shifts point toward a more efficient market where higher nightly rates and shorter lead times offset smaller inventory levels.

In Norfolk, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Saturday and are lowest on Tuesday. Weekends show 42% higher occupancy than weekdays.