What is the Best Neighborhoods USA ranking for Water's Edge?
Water's Edge is ranked #77 of 114 eligible neighborhoods in Norfolk; #376 of 518 eligible neighborhoods in VA; and #9,209 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Water's Edge
Norfolk, VA | Norfolk City
Scored premium profile
Best Neighborhoods USA Index
45.5
Stability and Strength
44.9
Value Opportunity
33.8
Momentum
62.9
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Norfolk, VA |
| County | Norfolk City |
| National rank | #9,209 of 14,967 |
| State rank | #376 of 518 |
| City rank | #77 of 114 |
| County rank | #77 of 114 |
| National percentile | 38.5 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $619,034 |
| Year-over-year home value change | 1.8% |
| Month-over-month home value change | 0.20% |
| Home value to income ratio | 7.33 |
| Median household income | $84,481 |
| Bachelor's degree or higher | 28.2% |
| Civilian unemployment rate | 15.8% |
| Homeownership rate | 80.0% |
| Housing vacancy rate | 6.7% |
| Rent burden 30% or higher | 47.1% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Water's Edge
Is Water's Edge one of the best neighborhoods in Norfolk?
Water's Edge has a Best Neighborhoods USA Index of 45.5 and a city ranking of #77 of 114 eligible neighborhoods in Norfolk.
How much are homes worth in Water's Edge?
The current Zillow Home Value Index for Water's Edge is approximately $619,034.
Are home values rising or falling in Water's Edge?
Zillow neighborhood values changed 1.8% year over year and 0.20% month over month.
What is the Neighborhood Momentum Score for Water's Edge?
Water's Edge has a Neighborhood Momentum Score of 62.9. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Water's Edge?
The NDS-derived neighborhood median household income is approximately $84,481.
How affordable is Water's Edge relative to household income?
The current Zillow home-value-to-household-income ratio is 7.33. Price-to-income affordability is a major Value Opportunity input.
Is Water's Edge primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 80.0%.
What is the unemployment rate in Water's Edge?
The NDS-derived civilian unemployment rate is approximately 15.8%.
How educated are residents of Water's Edge?
Approximately 28.2% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Water's Edge face high rent burden?
Approximately 47.1% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Water's Edge?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications10
Estimated originations6
Home-purchase applications4
Origination rate57.4%
Home-purchase share37.6%
Average application loan$277,597
Total application loan amount$2,873,572
National application rank#12,429 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 11.0% YoY; originations 36.9% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.