23701 — Portsmouth city, Virginia Market Snapshot
Housing market data for zip code 23701 in Portsmouth city, Virginia. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 9 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Portsmouth city county page for broader data.
Market Sales Data
9 sales in 2026 (year to date)
Median Sale Price
$130,000
Days to Sell
14
Homes Sold
9
Inventory
9
Conforming Loan Available
Most homebuyers in 23701 can comfortably use conventional financing. The median home price of $130,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
Homes in 23701 are moving quickly at 14 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Conforming Loan Feasibility
Most homebuyers in 23701 can comfortably use conventional financing. The median home price of $130,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23701 are set at the county level.
2026 Loan Limits — Portsmouth city
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $757,850 |
| 2 Units | $1,066,250 | $970,200 |
| 3 Units | $1,288,800 | $1,172,750 |
| 4 Units | $1,601,750 | $1,457,450 |
Affordability Snapshot — Zip 23701
To purchase the median home at $130,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,146.
Monthly Payment
$1,146
Income Required
$49,115
Principal & Interest
$801/mo
Down Payment (5%)
$6,500
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23701.
Estimated Monthly Payment
$955
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