Suffolk, VA—23433
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 $531,000, with a year-over-year change of 6.9%. This indicates that home prices in Suffolk, VA are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $531,000 | 6.9% |
| Single Family | $531,000 | 6.4% |
| 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 | $460,000 | 5.3% |
4 Bed | $625,000 | 8.1% |
| 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 69. This is a decrease of -46.0% 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 | $604,000 | -7.0% |
Listing Count | 9 | -55.0% |
| Listings as % of Homes | 0.7% | -55.0% |
Days on Market | 69 | -46.0% |
Demographics — Suffolk, VA
As of the latest ACS Survey released in 2023, Suffolk, VA has a population of 1,420, which has increased by 26.1% over the past 5 years. Suffolk, VA is a moderately popular place for families, as children make up 20.0% of the population. The area has a highly educated workforce, with 63.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,420 | 26.1% |
% Under 18 | 20.0% | 94.2% |
% Seniors | 33.1% | 0.9% |
% WFH | 12.2% | 0.0% |
% w/ College Degree | 63.1% | 51.3% |
As of the latest ACS Survey released in 2023, Suffolk, VA is a predominantly white area, with 85.2% of the population identifying as white. The white population has grown by 5.3% in the last 5 years. The second most common race or ethnicity in Suffolk, VA is black, making up 9.6% of the population. Foreign-born residents account for 3.4% of the population in Suffolk, VA, and this percentage has decreased by 54.1% 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 | 85.2% | 5.3% |
% Black | 9.6% | -13.5% |
% Hispanic | 2.0% | -75.9% |
% Asian | 0.7% | -74.1% |
% Foreign Born | 3.4% | -54.1% |
Mortgage and Risk — Suffolk, VA
According to HUD data as of 2023, there were 60 mortgage originations in Suffolk, VA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Suffolk, VA. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 60 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 8.0% |
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 | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,160 |
| 2 Bedroom | N/A | N/A | $1,350 |
| 3 Bedroom | N/A | N/A | $1,880 |
| 4 Bedroom | N/A | N/A | $2,280 |
Affordability — Suffolk, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $531,000 |
| Median Household Income | $152,000 |