23437, Suffolk, VA

The 23437 zip code of Suffolk, VA is home to a population of around 116,000 people. The median household income in this zip code is $86,500, and the median home value is $239,900. This makes the 23437 zip code one of the more affluent areas in Virginia.

The average home equity in this zip code is $128,700. This means that homeowners in the 23437 zip code have a total equity of around $236,200. This amount represents a significant portion of a homeowner's overall wealth. In addition, homeowners in this area have an average home value that is almost 20% higher than the statewide average.

One reason for this high level of home equity may be due to the fact that homes in this area are relatively affordable compared to other parts of Virginia. The median price per square foot for homes in Suffolk is only $130 compared to $269 per square foot statewide. Additionally, mortgage rates are lower here than they are elsewhere in Virginia. As a result, homeowners can afford larger mortgages and still maintain a high level of home equity relative to their income levels.