Median Home PriceBETTER
$284,020.02
Median RentBETTER
$1,556.55/mo
Price-to-Rent RatioBETTER
15.2
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+1.2%
Price Change (5Y)BETTER
+6.2%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$122,470
Median Home Price
$301,780.44
Median Rent
$1,631.91/mo
Price-to-Rent Ratio
15.4
Property Tax RateTIE
0.82%
Price Change (1Y)
+0.3%
Price Change (5Y)
+1.3%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$156,201
Key Differences
Home Prices
Newport News's median home price of $284,020.02 is lower than Norfolk's $301,780.44 by 6%.
Monthly Rent
Renting in Newport News costs $1,556.55/mo compared to $1,631.91/mo in Norfolk—a difference of $75.36/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.