Real Estate Investing in Newport News, Virginia (23602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23602 (Newport News, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Newport News, VA (23602)?
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Market Analysis: 23602 Newport News
From a cash-flow lens, ZIP 23602 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $316K median. It rewards specialists, not generalists.
The 23602 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 23602 and stronger Newport News ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 23602 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 23602 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Newport News:
Property Strategy for 23602
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $208,322 | $1,810 | 6.3% | +9.1% | $104,161 |
| 3BR | $287,517 | $2,510 | 6.3% | +7.4% | $95,839 |
| 4BR | $378,364 | $2,960 | 5.6% | +7.2% | $94,591 |
| 5BR | $455,670 | — | — | +7.5% | $91,134 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23602 Compare?
| Metric | 23602 | Newport News | Virginia |
|---|---|---|---|
| Home Value | $316,128 | $283,832 | $403,170 |
| 5-Year CAGR | 6.1% | 6.8% | 6.4% |
| Avg Rent | $1,603 | $1,563 | - |
| Cap Rate | 4.0% | 4.5% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23602 (Newport News, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $316,128 |
| Monthly Rent | $1,603 |
| Price-to-Rent | 16.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +3.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 23602
Population: 42,699
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 23602
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Knollwood Meadows Elementary
David A. Dutrow Elementary
Denbigh Early Childhood Center
George J. McIntosh Elementary
Hidenwood Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,158 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the investability score for Newport News, VA?
Yes - Newport News, VA a 3.0/5 investability score. With $316K home prices against $1,603/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the typical vacancy rate in Newport News, VA?
Newport News, VA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What do rentals go for in Newport News, VA?
Average rent in Newport News, VA is approximately $1,603/mo per month. Against $316K home values that yields a reasonable rent-to-price ratio.
How much should I expect to pay for a home in Newport News, VA?
Typical homes in Newport News, VA go for around $316K. The 5-year CAGR of 0.0% consistent price movement.
Is house hacking profitable in Newport News, VA?
House hacking works a challenging in Newport News, VA. Rents of $1,603/mo against $316K acquisition make the strategy solid for owner-occupants.
You know 23602 now. You don’t know where it ranks.
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How 23602 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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