23707, Portsmouth, VA

Portsmouth, VA is located in the Hampton Roads region of Virginia. The 23707 zip code covers a total area of 9.5 square miles and has a population of approximately 97,000 people. Home prices in the 23707 zip code have increased significantly over the past few years, reaching an all-time high of $269,900 in January 2018.

The majority of home buyers in the 23707 zip code are middle-income families who are looking to purchase their first home or upgrade from their current residence. Portsmouth has seen a significant increase in home values over the past few years due to its proximity to major metropolitan areas such as Richmond and Norfolk, as well as its strong economy. Many homeowners in the 23707 zip code are able to take advantage of low interest rates and generous mortgage terms offered by lenders due to Portsmouth's strong economy.

Despite this positive trend, there are still some concerns surrounding the stability of Portsmouth's housing market. Some experts believe that rising interest rates could lead to a decrease in home values within the 23707 zip code, while others believe that there is too much speculation involved in today's housing market for it to be sustainable for long term investors or homeowners. Regardless of whether or not Portsmouth's housing market will experience any major setbacks over the next few years, it is clear that home values have increased significantly over the past few years and there is plenty of opportunity for homeowners who want to take advantage of these high prices