Suffolk, VA—23432
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Suffolk, VA
As of Oct '25, the median home price in Suffolk, VA is $447,000, with a year-over-year change of 3.6%. This indicates that home prices in Suffolk, VA are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $447,000 | 3.6% |
| Single Family | $447,000 | 3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $400,000 | 3.4% |
4 Bed | $614,000 | 3.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Suffolk, VA
Suffolk, VA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Suffolk, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Suffolk, VA is 43. This is a decrease of -31.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $482,000 | -17.0% |
Listing Count | 6 | -32.0% |
| Listings as % of Homes | 0.9% | -32.0% |
Days on Market | 43 | -31.0% |
Demographics — Suffolk, VA
As of the latest ACS Survey released in 2023, Suffolk, VA has a population of 1,400, which has decreased by -4.6% over the past 5 years. Suffolk, VA is a popular place for families, as children make up 31.2% of the population. The area has a moderately educated workforce, with 37.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,400 | -4.6% |
% Under 18 | 31.2% | 101.3% |
% Seniors | 19.6% | -27.4% |
% WFH | 8.9% | 140.5% |
% w/ College Degree | 37.4% | 8.1% |
As of the latest ACS Survey released in 2023, Suffolk, VA is a predominantly white area, with 59.0% of the population identifying as white. The white population has shrunk by 14.7% in the last 5 years. The second most common race or ethnicity in Suffolk, VA is black, making up 34.4% of the population. Foreign-born residents account for 0.9% of the population in Suffolk, VA, and this percentage has decreased by 35.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 59.0% | -14.7% |
% Black | 34.4% | 23.7% |
% Hispanic | 3.4% | 580.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.9% | -35.7% |
Mortgage and Risk — Suffolk, VA
According to HUD data as of 2023, there were 97 mortgage originations in Suffolk, VA, of which 51.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Suffolk, VA. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 97 |
% Conventional Loans | 51.0% |
% Government Loans | 49.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Suffolk, VA
Suffolk, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 6.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,530 |
| 2 Bedroom | N/A | N/A | $1,750 |
| 3 Bedroom | N/A | N/A | $2,430 |
| 4 Bedroom | N/A | N/A | $2,890 |
Affordability — Suffolk, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $447,000 |
| Median Household Income | $126,000 |