Newport News, VA—23608
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 $293,000, with a year-over-year change of 1.0%. This indicates that home prices in Newport News, VA are flat. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $293,000 | 1.0% |
| Single Family | $302,000 | 1.3% |
| Condos | $187,000 | 0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $176,000 | 3.5% |
3 Bed | $278,000 | 0.7% |
4 Bed | $346,000 | 0.6% |
| 5 Bed | $397,000 | 1.3% |
% of Housing Stock
Rental Trends — Newport News, VA
As of July '25, Rentcast reports the average rent in Newport News, VA is $1,830, with a year-over-year rent change of 0.5%. Per bedroom, the median rent as of July '25 in Newport News, VA is studios: $904, 1-bedrooms: $1,200, 2-bedrooms: $1,370, 3-bedrooms: $1,920, 4-bedrooms: $2,490. The most common rental property sizes in Newport News, VA are 2-bedroom and 3-bedroom, accounting for 42.8% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,830 |
| Studio Rent | $844 | $904 |
| 1 Bed Rent | $1,290 | $1,200 |
| 2 Bed Rent | $1,400 | $1,370 |
| 3 Bed Rent | $1,850 | $1,920 |
| 4 Bed Rent | $2,400 | $2,490 |
% 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 32. This is a increase of 21.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | 17.0% |
Listing Count | 119 | 44.0% |
| Listings as % of Homes | 0.3% | 44.0% |
Days on Market | 32 | 21.0% |
Demographics — Newport News, VA
As of the latest ACS Survey released in 2023, Newport News, VA has a population of 43,800, which has increased by 3.8% over the past 5 years. Newport News, VA is a popular place for families, as children make up 25.5% of the population. The area has a moderately educated workforce, with 27.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,800 | 3.8% |
% Under 18 | 25.5% | -6.2% |
% Seniors | 12.3% | 21.8% |
% WFH | 7.1% | 144.8% |
% w/ College Degree | 27.0% | 13.4% |
As of the latest ACS Survey released in 2023, Newport News, VA is a predominantly black area, with 40.5% of the population identifying as black. The black population has shrunk by 9.0% in the last 5 years. The second most common race or ethnicity in Newport News, VA is white, making up 35.7% of the population. Foreign-born residents account for 10.5% of the population in Newport News, VA, and this percentage has increased by 11.7% 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 | 35.7% | -0.8% |
% Black | 40.5% | -9.0% |
% Hispanic | 11.8% | 16.8% |
% Asian | 5.8% | 26.1% |
% Foreign Born | 10.5% | 11.7% |
Mortgage and Risk — Newport News, VA
According to HUD data as of 2023, there were 173 mortgage originations in Newport News, VA, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Newport News, VA. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 173 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
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 14.1%. 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 Newport News, 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 | 1,215 |
Total Units Section 8 | 1,215 |
% Rentals under Section 8 | 14.1% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $1,290 | $1,390 |
| 2 Bedroom | $190 | $1,400 | $1,590 |
| 3 Bedroom | $360 | $1,850 | $2,210 |
| 4 Bedroom | $230 | $2,400 | $2,630 |
Affordability — Newport News, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $293,000 |
| Median Household Income | $67,600 |