Suffolk, VA—23437
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 $330,000, with a year-over-year change of 0.4%. This indicates that home prices in Suffolk, VA are flat. 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 | $330,000 | 0.4% |
| Single Family | $330,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $229,000 | 0.4% |
3 Bed | $343,000 | 0.9% |
4 Bed | $485,000 | 3.9% |
| 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 | $1,600 | $1,780 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,600 | $1,780 |
| 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 62. This is a increase of 20.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $430,000 | -4.0% |
Listing Count | 22 | 3.0% |
| Listings as % of Homes | 1.1% | 3.0% |
Days on Market | 62 | 20.0% |
Demographics — Suffolk, VA
As of the latest ACS Survey released in 2023, Suffolk, VA has a population of 5,090, which has increased by 21.9% over the past 5 years. Suffolk, VA is a moderately popular place for families, as children make up 20.3% of the population. The area has a poorly educated workforce, with 21.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,090 | 21.9% |
% Under 18 | 20.3% | -3.8% |
% Seniors | 20.7% | -1.0% |
% WFH | 5.9% | 145.8% |
% w/ College Degree | 21.6% | 45.9% |
As of the latest ACS Survey released in 2023, Suffolk, VA is a predominantly white area, with 69.1% of the population identifying as white. The white population has shrunk by 6.5% in the last 5 years. The second most common race or ethnicity in Suffolk, VA is black, making up 26.4% of the population. Foreign-born residents account for 1.7% of the population in Suffolk, VA, and this percentage has increased by 750.0% 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 | 69.1% | -6.5% |
% Black | 26.4% | 28.2% |
% Hispanic | 3.2% | 52.4% |
% Asian | 0.2% | -50.0% |
% Foreign Born | 1.7% | 750.0% |
Mortgage and Risk — Suffolk, VA
According to HUD data as of 2023, there were 93 mortgage originations in Suffolk, VA, of which 37.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 58.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 93 |
% Conventional Loans | 37.0% |
% Government Loans | 63.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
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 | 6 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 1.6% |
% 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 | $280 | $1,600 | $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 | 4 |
| Median Home Price | $330,000 |
| Median Household Income | $74,500 |