Newport News Home Prices: $274K, Up 0.9% — 7 ZIPs Analyzed (2026)
$274,494. That’s what a typical home costs in Newport News as of February 2026. Prices are up 0.9% from a year ago — a slow climb, not a surge.
Quick answer: The average home price in Newport News, VA is $274,494 as of February 2026, up 0.9% year over year according to Zillow.
Current Home Prices in Newport News
The Newport News market is moving sideways with a slight upward tilt. Home values have risen less than one percent over the past 12 months, well below the pace seen in most Sun Belt metros.
| Metric | Value |
|---|---|
| Median home value | $274,494 |
| Year-over-year change | +0.9% |
| Cheapest ZIP value | $178,482 |
| Most expensive ZIP value | $357,790 |
| ZIP codes tracked | 7 |
| Data as of | Feb 2026 |
The gap between the cheapest and priciest ZIP is about $179,000. That’s a wide spread for a mid-sized city. A buyer shopping in the $180K range has options. So does one looking at $350K-plus. The two buyers are shopping in effectively different markets.
The 0.9% annual gain is worth parsing. Inflation ran higher than that. So in real terms, Newport News homes lost a little purchasing power over the year. Sellers aren’t losing money in nominal dollars, but they’re not getting ahead of inflation either.
For context, the city sits inside the Virginia Beach-Norfolk-Newport News metro. The broader Hampton Roads region has tracked similar flat-to-modest growth. Newport News is not an outlier — it’s the baseline.
Newport News Home Prices by Neighborhood
Seven ZIP codes cover the city. The range is dramatic.
| ZIP | Typical Home Value | Typical Rent |
|---|---|---|
| 23606 | $357,790 | $1,702 |
| 23602 | $306,410 | $1,678 |
| 23608 | $298,580 | $1,574 |
| 23601 | $288,890 | $1,400 |
| 23603 | $267,638 | Data not available |
| 23605 | $223,665 | $1,518 |
| 23607 | $178,482 | $1,537 |
Most Expensive
23606 tops the list at $357,790 — about 30% above the city median. Rents here average $1,702, the highest in the city. 23602 comes in second at $306,410, with rent at $1,678. 23608 rounds out the top three at $298,580, with rent near $1,574.
Most Affordable
23607 is the cheapest at $178,482 — 35% below the city median. Rent still runs $1,537, meaning the rent-to-price ratio here is unusually high for the city. 23605 sits at $223,665, roughly 19% below median. 23603 comes in at $267,638, just under the citywide average.
Rent vs Buy in Newport News
Rent data covers six of the seven ZIPs. The citywide rent average across those ZIPs works out to roughly $1,568 per month.
Run the mortgage math on the median $274,494 home. With 20% down ($54,899) and a 30-year loan at 7% interest on the remaining $219,595, the principal and interest payment is about $1,461. Add property taxes (Virginia runs around 0.8% assessed value, so roughly $183/month) and insurance ($100–150/month), and you’re at roughly $1,750 all-in.
So renting saves you about $180 a month on the typical home — and that’s before factoring in the $54,899 down payment, maintenance, and closing costs.
The calculation shifts in the cheapest ZIP. In 23607, a home at $178,482 with 20% down translates to a principal and interest payment near $950. Add taxes and insurance and you’re at about $1,200 — roughly $340 below the $1,537 rent. Buying wins in that specific ZIP if you have the down payment.
The pattern is clear: in higher-priced ZIPs, renting is the cheaper monthly option. In 23607, the math flips.
Population Growth and Migration
Newport News is losing residents. Slowly, but consistently.
| Year | Population |
|---|---|
| 2020 | 186,052 |
| 2021 | 184,717 |
| 2022 | 184,004 |
| 2023 | 183,249 |
| 2024 | 183,056 |
That’s a 1.6% decline over four years. Every year since 2020 has shown a loss, though the rate has slowed. The drop from 2023 to 2024 was just 193 people.
Compare that to other Virginia cities:
| City | 2024 Population | 4-Year Growth |
|---|---|---|
| Suffolk | 103,105 | +8.8% |
| Richmond | 233,655 | +3.0% |
| Chesapeake | 254,997 | +2.1% |
| Lynchburg | 80,301 | +1.7% |
| Hampton | 137,596 | +0.2% |
| Newport News | 183,056 | -1.6% |
Newport News is the only city on this list losing population. Neighboring Hampton is essentially flat. Suffolk, just across the water, has grown nearly 9%.
Shrinking population tends to cap home-price appreciation. Fewer households means fewer buyers. The 0.9% annual price gain makes more sense in that context — demand isn’t growing with the housing stock.
Newport News Housing Market Trends
The 12-month trend tells a clean story: prices bottomed in mid-2025 and have climbed steadily since.
| Month | Median Value |
|---|---|
| Mar 2025 | $272,155 |
| Apr 2025 | $271,285 |
| May 2025 | $270,037 |
| Jun 2025 | $269,190 |
| Jul 2025 | $268,894 |
| Aug 2025 | $269,076 |
| Sep 2025 | $269,887 |
| Oct 2025 | $270,816 |
| Nov 2025 | $271,735 |
| Dec 2025 | $272,437 |
| Jan 2026 | $273,459 |
| Feb 2026 | $274,494 |
Prices dropped about $3,300 from March 2025 through July 2025. Then the direction reversed. From the July low of $268,894 to February 2026, values rose $5,600.
You can see it month to month now. Each of the last seven months has posted a gain. The gains are small — typically $700 to $1,100 — but the direction is consistent.
Is Newport News a Good Place to Buy in 2026?
The data points to a balanced market leaning slightly toward sellers. Prices have risen for seven straight months. The annual gain is modest, but the momentum is positive.
The case for buying: prices in the cheapest ZIPs are genuinely affordable by national standards. A $178,482 home in 23607 costs about half the US median. Mortgage payments at that price can beat rent.
The case against: population is shrinking. That’s a structural headwind. Cities losing residents typically see weaker long-term price growth than cities gaining them. Suffolk and Chesapeake — both within commuting distance — are growing faster and may appreciate more.
If you’re a primary-residence buyer who wants to stay 5+ years, the modest appreciation is fine. If you’re buying as an investment hoping for big gains, Newport News isn’t the strongest bet in Virginia.
Newport News Housing Market Outlook for 2026-2027
The 3-month trend shows prices rising about $1,000 per month. If the current pace continues, the median could approach $280,000 by mid-2026.
That’s a big “if.” The 12-month data shows prices can reverse quickly — they fell five months in a row last year before turning. The recent uptick is real but modest.
Population loss remains the structural drag. Without household growth, demand pressure stays muted. Expect continued low-single-digit appreciation rather than a breakout.
The cheapest ZIPs — 23607 and 23605 — may see different dynamics. Affordable markets often attract first-time buyers priced out of nearby areas, which can push appreciation faster than the city average.
Similar Markets in VA
- Hampton — directly adjacent and the closest comp, with similar flat population and pricing dynamics.
- Chesapeake — a growing neighbor where buyers trade higher prices for stronger population momentum.
- Suffolk — the fastest-growing nearby city at +8.8% over four years, worth considering if long-term appreciation matters.
- Virginia Beach — the largest city in the metro, offering a bigger market with different price tiers.
- Richmond — state capital option with 3% population growth and a larger job base.
Frequently Asked Questions
What is the average home price in Newport News?
The average home price in Newport News, VA is $274,494 as of February 2026. That reflects the Zillow Home Value Index for the middle 30% of homes in the city.
Are home prices going up or down in Newport News?
Prices are up 0.9% year over year. After dipping to $268,894 in July 2025, values have climbed for seven consecutive months to reach $274,494 in February 2026.
Is it cheaper to rent or buy in Newport News?
Renting is cheaper in most ZIPs. Typical rent runs about $1,568, while a mortgage on the median home with 20% down and taxes runs closer to $1,750. The math flips in ZIP 23607, where buying beats renting by roughly $340 per month.
What is the most affordable neighborhood in Newport News?
ZIP 23607 is the cheapest, with a typical home value of $178,482 — about 35% below the city median. Rent there averages $1,537, giving it one of the strongest rent-to-price ratios in the city.
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.