Hampton, Virginia Housing Market Prices
Hampton Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 19% below the Virginia median$206,858
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Median rent 10% below the Virginia median$1,427
Housing Market Overview
| Metric | Hampton | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,858 | $256,082 | $248,835 |
| Price Trend (Annual %) | 4.1% | 3.5% | 7.5% |
| Median Gross Rent | $1,427 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hampton is about 19% lower than in Virginia. Rent is about 10% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hampton, up about 4.1% and 4.2% a year respectively. Rent is changing faster.
Median rent in Hampton rose about 41.5% between 2015 and 2024, from $1,008 to $1,427. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Hampton.
Buying the median-priced home in Hampton costs roughly 12.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hampton. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Hampton | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,858 | $256,082 | $248,835 |
| Median Household Income | $70,017 | $93,527 | $80,455 |
| Price-to-Income Ratio | 3.0 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hampton rose about 38.4%, while median household income rose about 39.4% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hampton | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.8% | 61.5% | 58.5% |
| Rental Rate | 40.0% | 29.8% | 31.2% |
| Vacancy Rate | 7.2% | 8.7% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Hampton has a homeownership rate of 52.8%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 7.2%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Hampton | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1974 | 1982 | 1978 |
| Median Number of Rooms | 5.7 | 6.0 | 5.5 |
The typical housing unit in Hampton was built around 1974. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Hampton, VA Housing Compared With Nearby Cities
Hampton, VA is the 3rd largest of the 4 cities compared here, 137,557 residents against a local median of 184,065. Hampton, VA's homeownership, at 56.9%, runs 18% above the 48.2% typical of the cities around it. That is the better end of the local range on this measure.
Median home price tells the same story from another angle: $206,858 against a local median of $246,079, 16% below it. The cities themselves spread 11.6% on homeownership, so Hampton, VA sits at one end of an already wide local range rather than apart from it. Hampton, VA has the 2nd highest homeownership of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hampton, VA | 137,557 | $206,858 #4/4 | $1,427 #1/4 | 56.9% #2/4 |
| Norfolk, VA | 233,287 | $257,238 | $1,321 | 46.3% |
| Portsmouth, VA | 97,157 | $246,079 | $1,299 | 57.9% |
| Newport News, VA | 184,065 | $221,283 | $1,338 | 48.2% |
Frequently Asked Questions
Common questions about the housing market in Hampton, Virginia.
What is the median home price in Hampton, Virginia?
The median home price in Hampton, Virginia is $206,858, lower than the Virginia average of $256,082.
What is the average home price in Hampton, Virginia?
The typical home price in Hampton, Virginia, reported as the median sale price, is $206,858. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hampton, Virginia?
The median gross rent in Hampton, Virginia is $1,427 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Hampton in 2020?
In 2020, the median gross rent in Hampton, Virginia was $1,115 per month.
What is the price-to-rent ratio in Hampton, Virginia?
The price-to-rent ratio in Hampton, Virginia is about 12.1, meaning it would take roughly 12.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hampton.
Are home prices or rent rising faster in Hampton, Virginia?
Both home prices and rent are rising in Hampton, up about 4.1% and 4.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Hampton, Virginia?
52.8% of households in Hampton, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Hampton, Virginia?
The housing vacancy rate in Hampton, Virginia is 7.2%, lower than the Virginia average of 8.7%.
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