Suffolk, VA housing market
The typical Suffolk home is worth about $390,000, up 2.7% in a year, 6% below the Virginia typical home. Homes typically sell in 46 days, close to asking.
Home values, sales, trends and how Suffolk compares with the towns next door — updated as new data is published.
Suffolk at a glance
A seller's market
Supply is tight — about 2.7 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Suffolk | Virginia |
|---|---|---|
| 2017 | $235,000 | $253,000 |
| 2018 | $244,000 | $263,000 |
| 2019 | $249,000 | $271,000 |
| 2020 | $258,000 | $284,000 |
| 2021 | $285,000 | $311,000 |
| 2022 | $319,000 | $345,000 |
| 2023 | $343,000 | $367,000 |
| 2024 | $361,000 | $386,000 |
| 2025 | $377,000 | $405,000 |
| 2026 | $383,000 | $411,000 |
| August 2026 | $390,000 | $415,000 |
589 new homes permitted in 2025
Builders were permitted 589 new homes in Suffolk in 2025: 514 single-family houses and 75 in buildings with two or more homes, worth about $137.4 million to build. That's 6 per 1,000 residents, faster than across Virginia (4). Over the past 10 years, Suffolk has permitted 7,817 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Suffolk gained 9,739 residents while 6,163 new homes were permitted: about 1.6 new residents per new home. Building and growth moved roughly in step. Across Virginia: 2.2 new residents per new home.
How Suffolk ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 450 | 450 | 0 | $98 million |
| 2025 | 589 | 514 | 75 | $137.4 million |
| 2024 | 680 | 680 | 0 | $195.3 million |
| 2023 | 727 | 607 | 120 | $184 million |
| 2022 | 669 | 607 | 62 | $160.1 million |
| 2021 | 1,363 | 828 | 535 | $228.6 million |
| 2020 | 1,108 | 715 | 393 | $215.7 million |
| 2019 | 695 | 500 | 195 | $104 million |
| 2018 | 717 | 501 | 216 | $101.4 million |
| 2017 | 562 | 514 | 48 | $91.3 million |
| 2016 | 707 | 395 | 312 | $73.3 million |
| 2015 | 798 | 362 | 436 | $85.4 million |
| 2014 | 348 | 297 | 51 | $56.6 million |
| 2013 | 1,108 | 592 | 516 | $188 million |
| 2012 | 653 | 593 | 60 | $116.9 million |
| 2011 | 278 | 265 | 13 | $48.7 million |
| 2010 | 297 | 295 | 2 | $52.1 million |
| 2009 | 386 | 378 | 8 | $68.2 million |
| 2008 | 336 | 332 | 4 | $58.2 million |
| 2007 | 591 | 474 | 117 | $101 million |
| 2006 | 844 | 642 | 202 | $151.8 million |
| 2005 | 1,090 | 1,090 | 0 | $188.6 million |
| 2004 | 1,135 | 848 | 287 | $131.7 million |
| 2003 | 1,404 | 1,108 | 296 | $131.8 million |
| 2002 | 1,300 | 994 | 306 | $120.8 million |
| 2001 | 1,337 | 1,003 | 334 | $120.2 million |
| 2000 | 773 | 639 | 134 | $83 million |
How Suffolk ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Suffolk and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Suffolk | $390K | +2.7% | $1,610 | 589 | $92,666 |
| Portsmouth | $268K | +1.9% | $1,590 | 179 | $60,491 |
| Chesapeake | $425K | +3.6% | $2,140 | 846 | $95,373 |
| Newport News | $294K | +2.9% | $1,740 | 125 | $69,634 |
| Carrsville | $316K | +1.7% | $1,330 | — | — |
4.2 years of income
The typical Suffolk home costs about 4.2 years of the town's median household income, about the same as across Virginia (4.5).
How Suffolk ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,610
HUD's Fair Market Rent for a two-bedroom in Suffolk is $1,610 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Suffolk pay a median of $1,563. A two-bedroom takes about 21% of the town's median household income.
Studio $1,410 · 4 bedrooms $2,650
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (23432, 23434, 23435, 23437, 23438; Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Suffolk
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.