Housing market/Virginia/ZIP 23602
ZIP 23602 Newport News, Virginia
Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area · Virginia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
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HUD schedule, ACS stock, and the 90–110% band for ZIP 23602 · VA — sent to you.
ZIP 23602 · VA
ACS rent vs 2BR SAFMR
ZIP 23602 — Newport News, VA HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 23602
- 1-unit detached8,99547.8%
- 1-unit attached2,40312.8%
- 2–4 units1,1596.2%
- 5–49 units5,06926.9%
- 50+ units9395.0%
- Mobile2671.4%
2–4 unit share 6.1% · 5–49 unit share 26.9% · combined 2–49 33.0%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,446 (all bedrooms, occupied rentals).
- Median contract rent $1,264.
- Renters paying ≥30% of income 51.2%; ≥50% 21.3%.
- FY2027 2BR SAFMR $1,780 (1.231× ACS median gross rent).
Population
42,699 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +8.4%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 4 projects, 589 units.
- HUD project-based assisted MF: 4 properties, 396 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 32 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 23602 48.4% of occupied households are renters; vacancy is 4.6%; ACS median gross rent is $1,446; population increased +8.4% between the 2018 and 2023 ACS vintages; the housing stock includes 1,159 units in 2–4-unit structures and 5,069 units in 5–49-unit structures; 4 LIHTC projects totaling 589 units; FY2027 2BR SAFMR is $1,780 versus ACS median gross rent of $1,446. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Virginia research
ZIP 23602 is a Census / HUD profile for Virginia Beach-Norfolk-Newport News, VA-NC, VA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 23602 — Newport News, VA HUD Section 8 Payment Standards / SAFMR·Virginia ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Virginia research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 23602?
ZIP 23602 (Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area) has 42,699 residents, 18,013 households, a renter share of 48.4%, median household income of $72,487, and ACS 2023 median gross rent of $1,446. Vacancy is 4.6%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 23602?
ACS counts 188 units in 2-unit buildings, 971 in 3–4 unit buildings, 2,682 in 5–9, 1,654 in 10–19, and 733 in 20–49. Combined 2–49 unit stock is 6,228 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 23602?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,780. See the full schedule and 90–110% payment-standard band on the ZIP 23602 — Newport News, VA HUD Section 8 Payment Standards / SAFMR.
Does this Virginia ZIP profile include Georgia listings?
No. ZIP 23602 is Census / HUD research for Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area. Jeff Crowe CRE does not list Virginia property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.