Zip 23702 (Portsmouth, VA) Housing

The housing market in 23702 Portsmouth, VA is on the rise. According to recent data, the median value of a house in this area is $198,600 which is significantly lower than the US median value of $338,100. Despite this difference in pricing, the one year appreciation rate for houses in 23702 Portsmouth is 11.17%, greater than the 8.27% average appreciation rate for houses seen throughout the United States. This indicates that investment in real estate in this area may be a wise choice and that costs could continue to increase over time as demand rises.

The median home cost in Portsmouth (zip 23702) is $198,600. Home appreciation the last 10 years has been 54.9%. Home Appreciation in Portsmouth (zip 23702) is up 12.9%.

Average Age of Homes

- The median age of Portsmouth (zip 23702) real estate is 62 years old

The Rental Market in Portsmouth (zip 23702)

- Renters make up 49.6% of the Portsmouth (zip 23702) population
- 1.0% of houses and apartments in Portsmouth (zip 23702), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Portsmouth, Virginia	United States
	5,283.0	139,647,020.0
	65	42
	$198,600	$338,100
	12.9%	16.6%
	42.4%	57.0%
	54.9%	101.1%
	$11.84	$10.98
	$1,838	$2,690
	41.2%	57.4%
	8.5%	11.2%
	50.3%	31.4%
Vacant Housing
	1.0%	1.9%
	0.2%	0.4%
	1.5%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	5.9%	4.1%
Value of Owner-Occupied Housing
	2.2%	2.6%
	0.2%	2.4%
	3.4%	2.8%
	3.9%	3.9%
	3.1%	4.5%
	33.2%	11.3%
	29.4%	13.0%
	21.3%	20.1%
	0.4%	13.6%
	2.1%	8.3%
	0.7%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.3%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.3%	0.2%
	5.6%	13.6%
	5.6%	13.6%
	7.2%	13.6%
	11.3%	13.2%
	6.8%	14.8%
	7.2%	13.6%
	25.9%	10.0%
	21.5%	4.7%
	11.9%	12.2%

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