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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Newport News, VA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Newport News, VA Housing Market Trends

With a population of 184,306, 75,465 total housing units (homes and apartments), and a median house value of $286,297, Newport News real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Newport News, accounting for 49.59% of the city's housing units. Other types of housing that are prevalent in Newport News include large apartment complexes or high rise apartments ( 31.08%), duplexes, homes converted to apartments or other small apartment buildings ( 8.37%), and a few row houses and other attached homes ( 8.24%).

The most prevalent building size and type in Newport News are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.71% owning and 54.29% renting.

There is a lot of housing in Newport News built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Newport News built between 1940-1969 ( 29.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.27%). There's also some housing in Newport News built before 1939 ( 4.75%).

Newport News Home Appreciation Rates

Newport News's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newport News during the period has been just 5.25%, which is lower than 70% of US communities.

Appreciation rates are so strong in Newport News that despite a nationwide downturn in the housing market, Newport News real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newport News appreciation rates continue to be some of the highest in America, at 7.63%, which is higher than appreciation rates in 79.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newport News. Newport News appreciation rates in the latest quarter were at -0.39%, which equates to an annual appreciation rate of -1.55%.

Relative to Virginia, our data show that Newport News's latest annual appreciation rate is lower than 60% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Newport News differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport News - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Newport News real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$286,297

Newport News, VA Home Prices
> $1,330,000
$997,001 - $1,330,000
$665,001 - $997,000
$532,001 - $665,000
$399,001 - $532,000
$266,001 - $399,000
$133,001 - $266,000
$67,001 - $133,000
$0 - $67,000
0.6%
0.6%
0.8%
0.8%
1.8%
1.8%
3.3%
3.3%
13.6%
13.6%
37.2%
37.2%
29.2%
29.2%
6.4%
6.4%
7.1%
7.1%
0% 100.0%
% of Homes
Average

for Virginia

Average

for nation

Number of Homes And Apartments:

75,465

Newport News Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,983 / per month

Homeownership Rate

Owners
Renters
45.7%
45.7%
54.3%
54.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.6%
7.6%
92.4%
92.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.3%
17.3%
48.9%
48.9%
29.1%
29.1%
4.7%
4.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.6%
49.6%
8.2%
8.2%
8.4%
8.4%
31.1%
31.1%
2.5%
2.5%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
10.7%
10.7%
29.8%
29.8%
38.2%
38.2%
15.5%
15.5%
3.3%
3.3%
0% 100.0%
% of Homes