Newport News, Virginia Housing Market Prices
Newport News 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 14% below the Virginia median$221,283
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Median rent 15% below the Virginia median$1,338
Housing Market Overview
| Metric | Newport News | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,283 | $256,082 | $248,835 |
| Price Trend (Annual %) | 6.3% | 3.5% | 7.5% |
| Median Gross Rent | $1,338 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Newport News is about 14% lower than in Virginia. Rent is about 15% 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 Newport News, up about 6.3% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Newport News rose about 38.9% between 2015 and 2024, from $963 to $1,338. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Newport News.
Buying the median-priced home in Newport News costs roughly 13.8 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 Newport News. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Newport News | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,283 | $256,082 | $248,835 |
| Median Household Income | $69,337 | $93,527 | $80,455 |
| Price-to-Income Ratio | 3.2 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Newport News rose about 69.8%, while median household income rose about 35.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Newport News | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.7% | 61.5% | 58.5% |
| Rental Rate | 48.1% | 29.8% | 31.2% |
| Vacancy Rate | 7.2% | 8.7% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Newport News has a homeownership rate of 44.7%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 7.2%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Newport News | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1979 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 6.0 | 5.5 |
The typical housing unit in Newport News was built around 1979. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Newport News, Virginia.
What is the median home price in Newport News, Virginia?
The median home price in Newport News, Virginia is $221,283, lower than the Virginia average of $256,082.
What is the average home price in Newport News, Virginia?
The typical home price in Newport News, Virginia, reported as the median sale price, is $221,283. 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 Newport News, Virginia?
The median gross rent in Newport News, Virginia is $1,338 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Newport News in 2020?
In 2020, the median gross rent in Newport News, Virginia was $1,074 per month.
What is the price-to-rent ratio in Newport News, Virginia?
The price-to-rent ratio in Newport News, Virginia is about 13.8, meaning it would take roughly 13.8 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 Newport News.
Are home prices or rent rising faster in Newport News, Virginia?
Both home prices and rent are rising in Newport News, up about 6.3% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Newport News, Virginia?
44.7% of households in Newport News, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Newport News, Virginia?
The housing vacancy rate in Newport News, Virginia is 7.2%, lower than the Virginia average of 8.7%.
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