Newport News, VA

Population: 182,020
Average annual home appreciation rate: 6.21%
Total of homes for sale in this market: 837
Median home price: $200,227
Median Rent: $1,076 per room
Home price range: 39.40% of homes are between $100,001 – $200,000
Median sales price: $160,000
Number of homes: 310
Median foreclosure sales price: $118,533
Foreclosure discount: 26%
Most common home type: 51.63% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 9.69%
Number of renters: 50.91%
Number of owner occupied: 49.09%
Number people living below poverty level: 15.17%
Unemployment rate: 5.90%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Newport News area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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