The story of this market
The typical home in ZIP 23435 sells for about $427,000, or $185 per square foot.
Prices are down 7.1% from a year ago, which gives buyers more room to negotiate. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,839 a month.
ZIP 23435 — Suffolk
The 23435 housing market is currently experiencing a cooling phase with a slight year-over-year price decline, reflecting broader national trends. Despite this, the area remains competitive due to its strong employment base and suburban appeal. Inventory levels are sufficient to provide buyers with more options compared to the previous year.
This ZIP is well-suited for families and military-affiliated households seeking suburban living with convenient access to major regional employment hubs.
Median prices moved down 7.1% year over year.
Homes spend a median of 35 days on market with 3.0 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.6% · poverty 7.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 23435, Suffolk city, Virginia
Crime rates in the Suffolk area are generally considered moderate, with localized variations; specific trend data for 23435 is not determinable.
The area is served by Suffolk Public Schools, which maintains a mix of ratings across its elementary, middle, and high school campuses.
The region is subject to coastal flood risks and hurricane-related wind exposure, necessitating standard flood insurance coverage for many properties.
The area benefits from proximity to major Hampton Roads military installations and logistics hubs, driving steady residential demand and suburban expansion.
Property taxes are assessed by the City of Suffolk at a uniform rate applied to the fair market value of real estate, with no additional MUD/PID districts reported.
Residents primarily commute via the I-664 corridor toward employment centers in Newport News, Norfolk, and Portsmouth.
The area features access to the Nansemond River, various community parks, and proximity to the Harbour View shopping and dining district.
The rental market is characterized by steady demand from military personnel and professionals, with moderate vacancy pressure.
The economy is anchored by the military, logistics, and healthcare sectors, benefiting from the broader Hampton Roads economic base.
The area is served by major highway corridors including I-664 and US-17, facilitating regional connectivity.
Ongoing residential infill and commercial expansion projects are active within the Harbour View area.
The City of Suffolk Assessor's office conducts annual assessments based on market value.
Parcels are subject to city-wide tax levies; no special utility or hospital districts are reported.
Property insurance premiums are influenced by coastal hazard exposure and regional risk profiles.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Major regional hub for dining and retail.
Provides recreational boating and fishing access.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).