Newport News, VA—23607
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Newport News, VA
As of Oct '25, the median home price in Newport News, VA is $173,000, with a year-over-year change of -1.2%. This indicates that home prices in Newport News, VA are decreasing. 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 | $173,000 | -1.2% |
| Single Family | $170,000 | -1.7% |
| Condos | $209,000 | 1.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $139,000 | -2.1% |
3 Bed | $176,000 | -1.7% |
4 Bed | $218,000 | -0.9% |
| 5 Bed | $272,000 | 0.7% |
% of Housing Stock
Rental Trends — Newport News, VA
As of July '25, Rentcast reports the average rent in Newport News, VA is $1,350, with a year-over-year rent change of -8.2%. Per bedroom, the median rent as of July '25 in Newport News, VA is 1-bedrooms: $1,300, 2-bedrooms: $1,220, 3-bedrooms: $1,510, 4-bedrooms: $1,670. The most common rental property sizes in Newport News, VA are 2-bedroom and 3-bedroom, accounting for 48.2% and 24.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,420 | $1,300 |
| 2 Bed Rent | $1,100 | $1,220 |
| 3 Bed Rent | $1,500 | $1,510 |
| 4 Bed Rent | $1,200 | $1,670 |
% of Rental Stock
Property Listings — Newport News, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Newport News, VA is 42. 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $244,000 | 3.0% |
Listing Count | 78 | -10.0% |
| Listings as % of Homes | 0.4% | -10.0% |
Days on Market | 42 | -6.0% |
Demographics — Newport News, VA
As of the latest ACS Survey released in 2023, Newport News, VA has a population of 23,000, which has remained stable by -0.0% over the past 5 years. Newport News, VA is a popular place for families, as children make up 25.2% of the population. The area has a poorly educated workforce, with 13.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,000 | 0.0% |
% Under 18 | 25.2% | -0.8% |
% Seniors | 13.6% | 13.3% |
% WFH | 9.8% | 716.7% |
% w/ College Degree | 13.8% | 3.8% |
As of the latest ACS Survey released in 2023, Newport News, VA is a predominantly black area, with 75.9% of the population identifying as black. The black population has shrunk by 7.4% in the last 5 years. The second most common race or ethnicity in Newport News, VA is white, making up 13.3% of the population. Foreign-born residents account for 2.9% of the population in Newport News, VA, and this percentage has increased by 45.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 13.3% | 20.9% |
% Black | 75.9% | -7.4% |
% Hispanic | 5.9% | -3.3% |
% Asian | 1.0% | 66.7% |
% Foreign Born | 2.9% | 45.0% |
Mortgage and Risk — Newport News, VA
According to HUD data as of 2023, there were 306 mortgage originations in Newport News, VA, of which 41.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 65.0% above 90% LTV (very high). This implies large mortgage risk in Newport News, VA. Investor activity is low, as 5.0% 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 | 306 |
% Conventional Loans | 41.0% |
% Government Loans | 59.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Newport News, VA
As of 2024, the percent of homes in Newport News, VA under the Section 8 program is 29.4%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Newport News, VA, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,296 |
Total Units Section 8 | 1,899 |
% Rentals under Section 8 | 29.4% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$240 | $1,420 | $1,180 |
| 2 Bedroom | $250 | $1,100 | $1,350 |
| 3 Bedroom | $380 | $1,500 | $1,880 |
| 4 Bedroom | $1,080 | $1,200 | $2,280 |
Affordability — Newport News, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $173,000 |
| Median Household Income | $42,900 |