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Suffolk, VA—23435

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$453,000
2.0% YoY Growth
Household Income
$108,000
23.2% YoY Growth
Days on Market
45
6.0% Shorter YoY
Home Price Forecast
0.4%
Median Rent
$2,600
1.2% YoY Growth
1-Bed Rent
$1,580
40.5% YoY Growth
2-Bed Rent
$2,000
14.4% YoY Growth
3-Bed Rent
$2,300
2.2% YoY Growth

Other Zip Codes in Suffolk, VA

234332343623437234322343423438
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Suffolk, VA

As of May '26, the median home price in Suffolk, VA is $453,000, with a year-over-year change of 2.0%. This indicates that home prices in Suffolk, VA are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$453,0002.0%
Single Family $459,0001.8%
Condos $370,0003.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$282,0001.8%
    3 Bed
    		$378,0002.2%
    4 Bed
    		$485,0001.3%
    5 Bed $627,9550.5%
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    % of Housing Stock

    Studio
    1.0%
    1 Bedroom
    6.3%
    2 Bedrooms
    15.5%
    3 Bedrooms
    34.4%
    4 Bedrooms
    33.2%
    5+ Bedrooms
    9.6%

    Rental Trends — Suffolk, VA

    As of July '25, Rentcast reports the average rent in Suffolk, VA is $2,590, with a year-over-year rent change of 1.2%. Per bedroom, the median rent as of July '25 in Suffolk, VA is 1-bedrooms: $1,630, 2-bedrooms: $1,990, 3-bedrooms: $2,300, 4-bedrooms: $2,980. The most common rental property sizes in Suffolk, VA are 2-bedroom and 3-bedroom, accounting for 35.9% and 25.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,600$2,590
    Studio Rent N/AN/A
    1 Bed Rent $1,580$1,630
    2 Bed Rent $2,000$1,990
    3 Bed Rent $2,300$2,300
    4 Bed Rent $2,800$2,980
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    % of Rental Stock

    Studio
    3.4%
    1 Bedroom
    18.4%
    2 Bedrooms
    35.9%
    3 Bedrooms
    25.3%
    4 Bedrooms
    13.7%
    5+ Bedrooms
    3.2%

    Property Listings — Suffolk, VA

    As of May '26, Realtor.com reports that the median days on market for a home in Suffolk, VA is 45. This is a decrease of -6.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$510,0000.0%
    Listing Count
    		17720.0%
    Listings as % of Homes0.6%20.0%
    Days on Market
    		45-6.0%
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    Demographics — Suffolk, VA

    As of the latest ACS Survey released in 2023, Suffolk, VA has a population of 33,400, which has increased by 11.3% over the past 5 years. Suffolk, VA is a moderately popular place for families, as children make up 23.4% of the population. The area has a moderately educated workforce, with 42.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		33,40011.3%
    % Under 18
    		23.4%-10.3%
    % Seniors
    		13.1%15.9%
    % WFH
    		11.7%225.0%
    % w/ College Degree
    		42.2%6.0%
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    As of the latest ACS Survey released in 2023, Suffolk, VA is a predominantly white area, with 47.4% of the population identifying as white. The white population has shrunk by 8.5% in the last 5 years. The second most common race or ethnicity in Suffolk, VA is black, making up 36.1% of the population. Foreign-born residents account for 5.7% of the population in Suffolk, VA, and this percentage has decreased by 3.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		47.4%-8.5%
    % Black
    		36.1%1.1%
    % Hispanic
    		6.4%16.4%
    % Asian
    		3.6%-14.3%
    % Foreign Born
    		5.7%-3.4%
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    Mortgage and Risk — Suffolk, VA

    According to HUD data as of 2023, there were 856 mortgage originations in Suffolk, VA, of which 51.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Suffolk, VA. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		856
    % Conventional Loans
    		51.0%
    % Government Loans
    		49.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		12.0%
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    Rentals and Section 8 — Suffolk, VA

    As of 2024, the percent of homes in Suffolk, VA under the Section 8 program is 4.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Suffolk, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

    Section 8 Market Size

    Total Units under HUD
    		191
    Total Units Section 8
    		191
    % Rentals under Section 8
    		4.6%
    % Occupied Section 8
    		92.8%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$330$1,580$1,910
    2 Bedroom$180$2,000$2,180
    3 Bedroom$730$2,300$3,030
    4 Bedroom$810$2,800$3,610

    Affordability — Suffolk, VA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.7
    Median Home Price$453,000
    Median Household Income$108,000

    Suffolk, VA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Suffolk, VA

    23436

    Chesapeake, VA

    23321

    Suffolk, VA

    23433

    Suffolk, VA

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    Portsmouth, VA

    23701

    Frequently Asked Questions