Housing in Suffolk
Detailed housing data — sourced from authoritative datasets and normalized for direct comparison.
Housing in Suffolk, Virginia
The housing market in Suffolk offers a range of options, from historic homes to newer developments. The median property value in Suffolk was $347,400 in 2024, which is higher than the national average. The homeownership rate is 70.7%, exceeding the national average. For renters, the average apartment rent in Suffolk is $1,852 per month as of August 2026, reflecting a 5.28% increase from the previous year. One-bedroom apartments average around $1,697 per month, while two-bedroom units average $1,887 per month. The rental market has seen a 4.7% year-over-year increase in average apartment rent.
Housing
About Suffolk, Virginia
Suffolk, Virginia, an independent city in the Hampton Roads metropolitan area, blends historical charm with modern development. Known for its rich history, particularly its ties to the peanut industry, Suffolk has earned the nickname 'Peanut Capital of the World'. The city was formally established in 1742 and has grown significantly, especially since the advent of railroads in the early 1800s. Today, Suffolk is the largest city in Virginia by land area and offers a sparse suburban feel, attracting families and young professionals seeking a balance of natural beauty, community spirit, and convenient access to larger urban centers like Norfolk and Virginia Beach. Its strategic location at the intersection of major highways and proximity to the Port of Virginia also makes it a hub for logistics and distribution.
About Virginia
Virginia, a Mid-Atlantic state, offers a diverse character ranging from its historic eastern regions to the Appalachian Mountains in the west. Its economy is well-balanced and diverse, with major industries including professional, scientific, and technical services, healthcare, retail trade, and a significant defense and government contracting sector, particularly in Northern Virginia. While the cost of living can be high in areas like Northern Virginia, it is generally considered moderate statewide, with more affordable options in other regions. The state experiences all four distinct seasons, with warm summers and generally mild winters, and offers a lifestyle that blends urban amenities with abundant outdoor activities and rich historical sites.
