23663, Hampton, VA

The 23663 zip code of Hampton, VA is located in the southeastern region of Virginia. The median home value in this zip code is $224,000 and the median home equity is $128,500. This indicates that home values are relatively high in this area. Additionally, the percentage of homes that are owner-occupied is higher than the national average. This may be due to the strong economy and low unemployment rate in Hampton.

Despite these positive indicators, there are some challenges facing homeowners in this zip code. One issue is that there has been a recent increase in foreclosures and short sales. This may indicate that there are more buyers who are not able to qualify for a mortgage or who are looking to purchase a property at a lower price than they would be able to afford if they had a longer term loan commitment. Additionally, although prices have increased over time, incomes have not kept pace with inflation which could lead to difficulty affording a mortgage in the future.