The housing market in Suffolk, VA is thriving. The median value of a house in Suffolk is slightly lower than the US median house value at $335,700 compared to $338,100. However, over the course of one year, the appreciation rate for houses in Suffolk was 11.31%, much higher than the national average appreciation rate of 8.27%. This suggests that houses in Suffolk are a worthwhile investment and will appreciate significantly over time. With such healthy returns on investment, it's no wonder that more people are looking to invest in Suffolk's housing market.
The median home cost in Suffolk is $335,700. Home appreciation the last 10 years has been 58.5%. Home Appreciation in Suffolk is up 13.1%.
Average Age of Homes
- The median age of Suffolk real estate is 28 years old
The Rental Market in Suffolk
- Renters make up 25.9% of the Suffolk population
- 1.2% of houses and apartments in Suffolk, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.