Newport News, VA—23602
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 $301,000, with a year-over-year change of 1.5%. This indicates that home prices in Newport News, 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 | $301,000 | 1.5% |
| Single Family | $310,000 | 2.0% |
| Condos | $206,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $208,000 | 1.0% |
3 Bed | $288,000 | 1.8% |
4 Bed | $378,000 | 2.4% |
| 5 Bed | $456,000 | 2.9% |
% of Housing Stock
Rental Trends — Newport News, VA
As of July '25, Rentcast reports the average rent in Newport News, VA is $1,980, with a year-over-year rent change of 1.5%. Per bedroom, the median rent as of July '25 in Newport News, VA is studios: $1,490, 1-bedrooms: $1,200, 2-bedrooms: $1,570, 3-bedrooms: $2,130, 4-bedrooms: $2,530. The most common rental property sizes in Newport News, VA are 2-bedroom and 3-bedroom, accounting for 45.4% and 23.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,980 |
| Studio Rent | $1,410 | $1,490 |
| 1 Bed Rent | $1,160 | $1,200 |
| 2 Bed Rent | $1,440 | $1,570 |
| 3 Bed Rent | $2,000 | $2,130 |
| 4 Bed Rent | $2,550 | $2,530 |
% 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 35. This is a increase of 16.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $304,000 | 4.0% |
Listing Count | 84 | 6.0% |
| Listings as % of Homes | 0.3% | 6.0% |
Days on Market | 35 | 16.0% |
Demographics — Newport News, VA
As of the latest ACS Survey released in 2023, Newport News, VA has a population of 42,700, which has increased by 8.4% over the past 5 years. Newport News, VA is a moderately popular place for families, as children make up 21.5% of the population. The area has a moderately educated workforce, with 36.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,700 | 8.4% |
% Under 18 | 21.5% | -4.9% |
% Seniors | 14.9% | -1.3% |
% WFH | 8.8% | 417.6% |
% w/ College Degree | 36.2% | 16.8% |
As of the latest ACS Survey released in 2023, Newport News, VA is a predominantly white area, with 42.4% of the population identifying as white. The white population has shrunk by 13.5% in the last 5 years. The second most common race or ethnicity in Newport News, VA is black, making up 35.2% of the population. Foreign-born residents account for 10.3% of the population in Newport News, VA, and this percentage has increased by 13.2% 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 | 42.4% | -13.5% |
% Black | 35.2% | 13.5% |
% Hispanic | 11.8% | 16.8% |
% Asian | 4.8% | 14.3% |
% Foreign Born | 10.3% | 13.2% |
Mortgage and Risk — Newport News, VA
According to HUD data as of 2023, there were 455 mortgage originations in Newport News, VA, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Newport News, VA. Investor activity is low, as 2.0% 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 | 455 |
% Conventional Loans | 56.0% |
% Government Loans | 44.0% |
% Investor Loans | 2.0% |
% 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 5.8%. 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 | 783 |
Total Units Section 8 | 512 |
% Rentals under Section 8 | 5.8% |
% Occupied Section 8 | 80.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $360 | $1,160 | $1,520 |
| 2 Bedroom | $300 | $1,440 | $1,740 |
| 3 Bedroom | $420 | $2,000 | $2,420 |
| 4 Bedroom | $330 | $2,550 | $2,880 |
Affordability — Newport News, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $301,000 |
| Median Household Income | $72,500 |