The story of this market
The typical home in ZIP 23437 sells for about $377,500, or $175 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,290 a month.
ZIP 23437 — Suffolk
The housing market in 23437 is currently experiencing a period of price stabilization following years of rapid appreciation. Inventory remains tight, which is keeping prices relatively firm despite a slight year-over-year decline in median sale prices. Demand is driven by local employment stability and the area's appeal to families seeking suburban space.
This ZIP is well-suited for families and individuals seeking a quieter, semi-rural lifestyle while maintaining access to the amenities and employment opportunities of the Suffolk city core.
Median prices moved down 2.1% year over year.
Homes spend a median of 45 days on market with 6.2 months of supply — a balanced-paced market.
12% 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 8.3% — 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 4.9%/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 4.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 23437, Suffolk city, Virginia
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Schools serving this area are part of the Suffolk City Public Schools district, which maintains a standard curriculum and performance profile consistent with regional averages.
The area is subject to standard regional flood and wind risks associated with the southeastern Virginia coastal plain; property insurance premiums reflect these environmental exposures.
Development momentum is driven by the expansion of the Suffolk employment core and proximity to regional logistics and military-related industries.
Property taxes are assessed by the City of Suffolk; the jurisdiction utilizes a uniform real estate tax rate applied to the fair market value of properties as determined by the local assessor.
Residents primarily rely on personal vehicles for commuting to employment centers in Suffolk and the broader Hampton Roads metropolitan area.
The area features access to rural landscapes, local parks, and proximity to the Great Dismal Swamp National Wildlife Refuge for outdoor recreation.
The rental market is characterized by low vacancy pressure and steady demand from local workers, with limited short-term rental inventory.
The local economy is anchored by logistics, agriculture, and proximity to the Hampton Roads military and maritime industrial base.
Transportation is dominated by highway corridors connecting the area to the broader Suffolk and Hampton Roads region.
Development is primarily focused on low-density residential expansion and infrastructure improvements to support regional connectivity.
Parcels are subject to Suffolk City municipal taxes and the Suffolk City Public Schools district levy.
Property insurance markets are stable but sensitive to coastal storm and flood risk profiles.
Data retrieved from data.census.gov 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.
A massive protected area offering trails and wildlife viewing.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).