New Kent County, Virginia Housing Market
In New Kent County, Virginia, the median home value is $393,600, with a median monthly rent of $1,721. This places New Kent County at #300 nationally out of 3134 counties by median home value, and #27 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $991
- Establishments: 560
- BLS QCEW, 2025
Housing Supply
- Single-family: 295
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 11,572 (avg $136,904)
- Outflow: 10,185 (avg $134,342)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in New Kent County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 23141 | 258.0 | +6.85% | 2025 |
| 2 | 23124 | 265.6 | +5.08% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How New Kent County Compares
| Metric | New Kent County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $393,600 | $295,807 | $227,706 |
| Median Gross Rent | $1,721 | $1,169 | $968 |
| Owner Occupancy Rate | 92.6% | 70.8% | 73.3% |
| Price/Rent Ratio | 19.1 | 20.3 | 18.7 |
Market Analysis
The median home value in New Kent County is 33.1% above the Virginia state average and 72.9% above the U.S. national average. The median rent of $1,721/month is 47.2% above the state average.
With a price-to-rent ratio of 19.1, the buy-vs-rent decision in New Kent County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
New Kent County has an owner-occupancy rate of 92.6%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Lewis and Clark County | Montana | $393,500 | $1,102 |
| Colusa County | California | $393,400 | $1,157 |
| Ketchikan Gateway Borough | Alaska | $393,300 | $1,505 |
| Madera County | California | $393,200 | $1,390 |
| Oldham County | Kentucky | $393,100 | $1,219 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Manassas Park city | $395,900 | $2,146 | 66.5% |
| Poquoson city | $400,300 | $1,707 | 84.6% |
| Hanover County | $400,400 | $1,591 | 82.1% |
| Frederick County | $386,000 | $1,507 | 79.3% |
| Virginia Beach city | $382,500 | $1,714 | 65.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).