Zip Code:
23701 is a Virginia Zip code within the city of Portsmouth and the county of Portsmouth city. Its population is roughly 23,951.
The 23701 zip code of Portsmouth, VA is home to a population of around 49,000 people. The median household income in this zip code is around $75,000, which is significantly higher than the national median household income of $53,046. However, despite this high median income, the 23701 zip code has a significantly lower homeownership rate than the national average homeownership rate of 67%.
This low homeownership rate can be largely attributed to the high cost of homes in this zip code. The average home price in the 23701 zip code is around $194,000, which is more than double the national average home price of $123,500. Additionally, mortgage rates in this zip code are significantly higher than they are nationwide. The average mortgage rate in the 23701 zip code is around 4.5%, which is much higher than the nationwide average mortgage rate of 3.9%.
Despite these high costs and high rates, there are still a number of households in the 23701 zip code that own their homes outright. Around 28% of households in this zipcode own their homes outright compared to the nationwide homeownership rate of 63%. This indicates that despite being faced with high costs and difficult mortgage terms, many households in Portsmouth are able to purchase or build their own homes.
Price Index: Virginia Beach-Norfolk-Newport News, VA-NC
Zipcode | Population | Density | Timezone | Latitude | Longitude | City | County | State |
---|---|---|---|---|---|---|---|---|
23321 | 36,212 | 537.1 | America/New_York | 36.80125 | -76.42294 | Chesapeake | Chesapeake city | Virginia |
23704 | 17,592 | 1,334.6 | America/New_York | 36.82404 | -76.31011 | Portsmouth | Portsmouth city | Virginia |
23707 | 14,685 | 1,426.8 | America/New_York | 36.84263 | -76.33988 | Portsmouth | Portsmouth city | Virginia |
23702 | 11,020 | 1,687.6 | America/New_York | 36.80318 | -76.32892 | Portsmouth | Portsmouth city | Virginia |