Figures

Norfolk Multifamily Figures Q2 2025

July 24, 2025 10 Minute Read

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  • The Norfolk multifamily market closed Q2 2025 with an occupancy rate of
    96.8%. This represented a .7% increase from Q1 2025.
  • There were 1,106 units absorbed in Q2 2025, compared to 468 units in Q1
    2025.
  • There were 160 units delivered in Q2 2025, compared to 136 units in Q1
    2025.
  • The overall average rent per unit for multifamily in Norfolk ended Q2 2025
    at $1,584, which was up 1.3% from Q1 2025.
  • The total multifamily investment sales in Q2 2025 amounted to $250.8
    million in total volume, compared to $255.2 million in Q1 2025.