Housing market/Virginia/ZIP 23707
ZIP 23707 Portsmouth, 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 23707 · VA — sent to you.
ZIP 23707 · VA
ACS rent vs 2BR SAFMR
ZIP 23707 — Portsmouth, 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 23707
- 1-unit detached4,52062.6%
- 1-unit attached4245.9%
- 2–4 units1,07814.9%
- 5–49 units1,16416.1%
- 50+ units170.2%
- Mobile130.2%
2–4 unit share 14.9% · 5–49 unit share 16.1% · combined 2–49 31.1%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,076 (all bedrooms, occupied rentals).
- Median contract rent $858.
- Renters paying ≥30% of income 54.1%; ≥50% 29.1%.
- FY2027 2BR SAFMR $1,320 (1.227× ACS median gross rent).
Population
14,311 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: -6.2%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 6 projects, 921 units.
- HUD project-based assisted MF: 2 properties, 385 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 50 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 23707 43.6% of occupied households are renters; vacancy is 9.7%; ACS median gross rent is $1,076; population changed -6.2% between the 2018 and 2023 ACS vintages; the housing stock includes 1,078 units in 2–4-unit structures and 1,164 units in 5–49-unit structures; 6 LIHTC projects totaling 921 units; FY2027 2BR SAFMR is $1,320 versus ACS median gross rent of $1,076. 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 23707 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 23707 — Portsmouth, 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 23707?
ZIP 23707 (Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area) has 14,311 residents, 6,518 households, a renter share of 43.6%, median household income of $51,070, and ACS 2023 median gross rent of $1,076. Vacancy is 9.7%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 23707?
ACS counts 495 units in 2-unit buildings, 583 in 3–4 unit buildings, 638 in 5–9, 474 in 10–19, and 52 in 20–49. Combined 2–49 unit stock is 2,242 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 23707?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,320. See the full schedule and 90–110% payment-standard band on the ZIP 23707 — Portsmouth, VA HUD Section 8 Payment Standards / SAFMR.
Does this Virginia ZIP profile include Georgia listings?
No. ZIP 23707 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.