How much is a home worth in ZIP code 23602?

The typical home in 23602 is worth $314,160, based on the Zillow Home Value Index.

Are home values rising in 23602?

Home values in 23602 are up 2.4% over the past year, and up 6.0% a year over five years.

What is the typical rent in 23602?

A typical home in 23602 rents for about $1,586 a month, a gross rental yield of 6.1%.

What is the property tax rate in 23602?

The effective property tax rate in 23602 is 0.9% — roughly $2,963 a year on a typical home.

ZIP code 23602 has a population of 42,265 and a median household income of $79,475.

HousingHandbookReference data

…

U.S. ZIP Code · VA23602

Newport News city · Virginia Beach-Chesapeake-Norfolk, VA-NC

Typical home value

$314,160^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.4%
5-year / yr: +6.0%
10-year / yr: +5.3%

Relative price

vs U.S.: +10.6%
vs metro: -10.8%
vs state: -4.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 23602 is worth $314,160 — 10.8% below the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 2.4%. Homes here rent for a typical $1,586 a month — a 6.1% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,586^[2]
Gross yield: 6.1%^[2]
Cap rate: 3.6%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $2,963^[3]

#Climate risk

FEMA National Risk Index ratings for Newport News city. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Low
Coastal flood: Relatively Low
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 42,265^[3]
Median household income: $79,475^[3]

#Migration

Household moves in and out of Newport News city over a year, from IRS tax-return data.

Net migration: -582^[5]
Moved in: 8,056
Moved out: 8,638

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 5
Middle: 0
High: 1

Menchville High
High · Grades 9–12 · Newport News City Public Schools
1,759 students
Kiln Creek Elementary
Elementary · Grades PK–5 · Newport News City Public Schools
555 students
L.F. Palmer Elementary
Elementary · Grades PK–5 · Newport News City Public Schools
477 students
Willis A. Jenkins Elementary
Elementary · Grades PK–5 · Newport News City Public Schools
472 students
T. Ryland Sanford Elementary
Elementary · Grades PK–5 · Newport News City Public Schools
454 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.1%

Net yield (after ~40% expenses)3.6%

Annual rent$19,030

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,589

Loan principal$251,328

Down payment$62,832

Total interest paid$320,555

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.32

Monthly cost to own$2,096

Monthly rent$1,586

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 72nd percentile^[1]
Rental yield: 33rd percentile^[2]
Property tax: 87th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23602?: The typical home in 23602 is worth $314,160, based on the Zillow Home Value Index.
Are home values rising in 23602?: Home values in 23602 are up 2.4% over the past year, and up 6.0% a year over five years.
What is the typical rent in 23602?: A typical home in 23602 rents for about $1,586 a month, a gross rental yield of 6.1%.
What is the property tax rate in 23602?: The effective property tax rate in 23602 is 0.9% — roughly $2,963 a year on a typical home.
Who lives in 23602?: ZIP code 23602 has a population of 42,265 and a median household income of $79,475.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

23503 vs 23602 →
Norfolk, VA
Typical home
$315,027
Gross yield
6.1%
23315 vs 23602 →
Carrsville CDP, VA
Typical home
$310,548
Gross yield
—
23502
Norfolk, VA
Typical home
$309,820
Gross yield
7.0%
23703
Portsmouth, VA
Typical home
$320,509
Gross yield
6.6%
23608
Newport News, VA
Typical home
$306,335
Gross yield
6.2%
23664
Hampton, VA
Typical home
$305,316
Gross yield
8.2%

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Pit ZIP 23602 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23602

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