Hampton Home Prices: $267K, Down 1.7% — 5 ZIPs Analyzed (2026)

$267K. That’s what a typical home costs in Hampton, Virginia — and it’s actually less than it was a year ago. In a region where military installations and shipyards drive much of the economy, the housing market has cooled modestly. Prices are down 1.7% year over year.

Quick answer: The average home price in Hampton, VA is $266,812 as of February 2026, down 1.7% year over year according to Zillow.

Current Home Prices in Hampton

Hampton sits in the Virginia Beach-Norfolk-Newport News metro area, one of the largest military-connected metros in the country. Here’s where the market stands right now.

That $267K median puts Hampton well below the national average. The gap between the cheapest and most expensive ZIP code is about $67,000 — a relatively tight spread for a city this size. Buyers here aren’t dealing with the kind of wild neighborhood-to-neighborhood swings you see in larger metros.

The 1.7% year-over-year decline is modest. It’s not a crash. It’s a market that overheated slightly and is settling back down. For buyers who were priced out in 2024, this is a small but real opening.

Hampton Home Prices by Neighborhood

Five ZIP codes cover Hampton. The price differences are noticeable but not extreme.

Most Expensive

23664 tops the list at $298,583 — about 12% above the city median — and also commands the highest rents at $2,038 per month.

23666 comes in second at $287,353, though interestingly it has the lowest rent of any Hampton ZIP at $1,564, which could signal strong owner-occupancy rates.

23669 rounds out the upper tier at $279,593 with rents of $1,744.

Most Affordable

23663 is the cheapest ZIP in Hampton at $231,515, roughly $35,000 below the city average. Despite the lower home prices, rents here run $1,726 — nearly as much as more expensive neighborhoods.

23661 sits at $237,017 with rents of $1,586. It’s the second most affordable option and offers some of the lower rents in the city as well.

The rent-to-price ratios vary significantly across ZIPs. In 23663, you’re paying high rent relative to home values, which could make buying more attractive. In 23666, the opposite is true.

Rent vs Buy in Hampton

Let’s run the numbers. The average rent across Hampton’s five tracked ZIP codes is approximately $1,732 per month.

Now compare that to buying. At the city median of $266,812 with 20% down ($53,362), you’d finance $213,450. At a 7% interest rate on a 30-year fixed mortgage, the principal and interest payment comes to about $1,420 per month.

That $312 monthly gap favors buying on paper. Add property taxes and insurance — figure another $300-400 per month in Virginia — and the costs are roughly even. But you’re building equity instead of paying a landlord.

The math shifts by ZIP code. In 23663, where rents are $1,726 but homes cost only $231,515, buying looks especially strong. A mortgage on that home would run about $1,232 per month — nearly $500 less than renting in the same area.

In 23664, the most expensive ZIP, the equation tightens. Rents of $2,038 versus a mortgage of about $1,590 still favor buying, but the down payment is steeper at nearly $60K.

Population Growth and Migration

Hampton’s population has barely budged in four years. The city had 137,282 residents in 2020 and 137,596 in 2024 — a gain of just 0.2%.

The trajectory wasn’t even a straight line. Hampton gained a few hundred people in 2021 and 2022, lost 813 in 2023, then recovered 439 in 2024. Net result: essentially flat.

Compare that to nearby Virginia cities:

Suffolk is booming at 8.8% growth. Richmond and Chesapeake are adding residents at a healthy clip. Hampton is barely holding steady, which helps explain the flat-to-declining home prices. Population growth drives housing demand. Without it, prices don’t have much upward pressure.

Hampton Housing Market Trends

Here’s how prices moved month by month over the past year.

The pattern is clear. Prices fell steadily from March 2025 ($271,391) through September 2025 ($263,889) — a $7,500 decline over six months. Then they reversed. Since September, prices have crept up by about $3,000.

Notice something else: the gap between high and low ZIPs is narrowing. In March 2025, the spread was $80,789. By February 2026, it had shrunk to $67,068. The most expensive areas are losing value faster than the cheapest ones.

Is Hampton a Good Place to Buy in 2026?

The data points toward a buyer-friendly market. Prices are down 1.7% from last year. The monthly trend shows a bottom in September 2025 with a slow recovery underway — but prices haven’t returned to early 2025 levels.

For buyers, the math works. Mortgage payments are competitive with rent across most ZIP codes. You can get into the cheapest ZIP for under $235K, which is genuinely affordable by East Coast standards.

The risk? Population growth is nearly zero. Without new residents driving demand, price appreciation will likely be slow. This is not a market where you buy and expect 10% annual gains. It’s a market where you buy because you want to live there and the monthly cost makes sense.

If you’re military-connected or work at Langley Air Force Base or Newport News Shipbuilding, Hampton offers proximity at a lower price point than Virginia Beach or Chesapeake.

Hampton Housing Market Outlook for 2026-2027

The three-month trend from December 2025 through February 2026 shows prices rising about $500 per month. If that pace holds, the city median could reach $270K by mid-2026 — still below the March 2025 peak of $271,391.

The recovery is real but slow. Prices bottomed in September 2025 and have gained back roughly 40% of the spring-to-fall decline. The trend suggests stabilization rather than a sharp rebound.

The top-end ZIPs are compressing toward the mean. The most expensive ZIP’s peak was $313,145 in March 2025; by February 2026, it had fallen to $298,583. If the current pace continues through 2027, expect a market where price differences between neighborhoods get smaller and the overall median holds in the $265K-$275K range.

Similar Markets in VA

Hampton buyers comparing options across Virginia have several alternatives worth exploring.

• Virginia Beach — The larger neighbor in the same metro, typically with higher prices but more amenities and beach access.
• Chesapeake — Growing at 2.1% population growth, Chesapeake offers suburban space on the other side of the Hampton Roads region.
• Suffolk — The fastest-growing city in the comparison at 8.8%, Suffolk is attracting buyers who want more land and newer construction.
• Fredericksburg — Further north along I-95, an option for buyers willing to trade Hampton Roads proximity for a different market.

Frequently Asked Questions

What is the average home price in Hampton?

The average home price in Hampton, VA is $266,812 as of February 2026. Across the city’s five tracked ZIP codes, prices range from $231,515 in ZIP 23663 to $298,583 in ZIP 23664. The city-wide median has been relatively stable, hovering in the $264K-$271K range over the past twelve months.

Are home prices going up or down in Hampton?

Prices are down 1.7% compared to one year ago. The monthly data shows a decline from March through September 2025, followed by a modest recovery. From the September 2025 low of $263,889, prices have ticked up by about $3,000 — a partial recovery but still below early 2025 levels.

Is it cheaper to rent or buy in Hampton?

On a pure monthly payment basis, buying is cheaper. The average rent across Hampton’s ZIP codes is approximately $1,732. A mortgage on the city median home with 20% down at 7% interest runs about $1,420 per month before taxes and insurance. Once you add those costs, the numbers are close — but you’re building equity as an owner.

What is the most affordable neighborhood in Hampton?

ZIP code 23663 has the lowest median home value at $231,515 — about $35,000 below the city average. Despite the lower home prices, rents in this area run $1,726 per month, which is close to the city average. That disconnect makes the rent-to-buy math particularly favorable here.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.