Newport News city, Virginia Housing Market
In Newport News city, Virginia, the median home value is $260,600, with a median monthly rent of $1,339. This places Newport News city at #834 nationally out of 3134 counties by median home value, and #65 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: $1,380
- Establishments: 4,384
- BLS QCEW, 2025
Housing Supply
- Single-family: 50
- Multi-family: 75
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 73,214 (avg $59,270)
- Outflow: 68,369 (avg $60,738)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Newport News city · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 23602 | 291.2 | +6.20% | 2025 |
| 2 | 23608 | 285.2 | +1.38% | 2025 |
| 3 | 23606 | 262.4 | +3.25% | 2025 |
| 4 | 23601 | 259.3 | +2.24% | 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 Newport News city Compares
| Metric | Newport News city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $260,600 | $295,807 | $227,706 |
| Median Gross Rent | $1,339 | $1,169 | $968 |
| Owner Occupancy Rate | 48.2% | 70.8% | 73.3% |
| Price/Rent Ratio | 16.2 | 20.3 | 18.7 |
Market Analysis
The median home value in Newport News city is 11.9% below the Virginia state average and 14.4% above the U.S. national average. The median rent of $1,339/month is 14.5% above the state average.
With a price-to-rent ratio of 16.2, the buy-vs-rent decision in Newport News city is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Newport News city has an owner-occupancy rate of 48.2%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Warren County | Missouri | $260,400 | $995 |
| Hamilton County | New York | $260,200 | $912 |
| Eau Claire County | Wisconsin | $261,000 | $1,064 |
| Guilford County | North Carolina | $259,900 | $1,163 |
| Camden County | Georgia | $261,400 | $1,235 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Staunton city | $259,200 | $1,024 | 60.9% |
| Salem city | $258,600 | $1,133 | 62.8% |
| Dinwiddie County | $257,800 | $1,224 | 79.6% |
| Franklin city | $256,600 | $988 | 53.9% |
| Westmoreland County | $269,600 | $1,018 | 80.1% |
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).