23704 — Portsmouth city, Virginia Market Snapshot
Housing market data for zip code 23704 in Portsmouth city, Virginia. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 2 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
2 sales in 2026 (year to date)
Median Sale Price
$215,250
Days to Sell
94
Homes Sold
2
Inventory
3
Conforming Loan Available
Most homebuyers in 23704 can comfortably use conventional financing. The median home price of $215,250 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
With homes sitting for 94 days on average, 23704 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Conforming Loan Feasibility
Most homebuyers in 23704 can comfortably use conventional financing. The median home price of $215,250 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 23704 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 23704
To purchase the median home at $215,250 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,799.
Monthly Payment
$1,799
Income Required
$77,107
Principal & Interest
$1,326/mo
Down Payment (5%)
$10,763
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 23704.
Estimated Monthly Payment
$1,482
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