3-digit ZIP regional index
Home appreciation in ZIP codes 234xxVirginia Beach, VA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 234 changed +4.1% over the year to Q2 2026, compared with +3.8% for Virginia and +3.0% for the United States.
The region covers ZIP codes 23401–23488. Most of its 2010 population lived in Virginia Beach city (77%), Suffolk city (15%). Communities in the region include Suffolk, Smithfield, Windsor, Onancock, Rushmere. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +4.1%
- 5-year change
- +44.4%
- Since Q1 1995
- +321%
- National rank (1 year)
- 371st
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 234 vs Virginia and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 234: 420.6
- Virginia: 403.8
- Virginia Beach-Chesapeake-Norfolk, VA-NC metro: 389.0
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 234 | VA | U.S. | Gap vs VA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +4.1% | +3.8% | +3.0% | +0.3 pts | +1.1 pts |
| 3 years | +17.3% | +15.9% | +12.9% | +1.4 pts | +4.5 pts |
| 5 years | +44.4% | +44.1% | +41.3% | +0.3 pts | +3.1 pts |
| 10 years | +79.4% | +83.4% | +93.3% | −4.0 pts | −13.9 pts |
| Since Q1 1995 | +321% | +304% | +292% | +16.9 pts | +29.1 pts |
If you bought in ZIP3 234 in…
Applying the regional index change from the same quarter of each year to Q2 2026 to an example $300,000 purchase price. Individual homes can differ widely from the regional average.
| Bought in | Index change | $300,000 then, at the regional rate |
|---|---|---|
| Q2 1995 | +319% | $1,255,892 |
| Q2 2000 | +251% | $1,051,863 |
| Q2 2005 | +89.7% | $569,202 |
| Q2 2010 | +83.9% | $551,707 |
| Q2 2015 | +83.3% | $549,880 |
| Q2 2020 | +59.3% | $477,819 |
| Q2 2021 | +44.4% | $433,188 |
| Q2 2023 | +17.3% | $352,029 |
| Q2 2025 | +4.1% | $312,310 |
How ZIP3 234 ranks
Over the past year ZIP3 234 ranks 371st of 882 3-digit ZIP regions nationally and 13th of 28 in Virginia. Its one-year change is +1.1 pts versus the nation and +0.3 pts versus Virginia. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Virginia |
|---|---|---|
| 1 year | 371st of 882 | 13th of 28 |
| 3 years | 323rd of 882 | 8th of 28 |
| 5 years | 445th of 882 | 19th of 28 |
| 10 years | 608th of 882 | 19th of 28 |
| Since Q1 1995 | 248th of 879 | 6th of 28 |
Boom, bust, and recovery in ZIP3 234
ZIP3 234's index peaked in Q2 2007, fell 18.8% to its low in Q2 2012, and regained its peak in Q3 2020, about 13.2 years after the top. Today it sits +58.9% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| ZIP3 234 | Q2 2007 | Q2 2012 | -18.8% | Q3 2020 (13.2 yrs) | +58.9% |
| VA | Q2 2007 | Q2 2012 | -17.4% | Q2 2019 (12 yrs) | +66.9% |
| Metro | Q2 2007 | Q4 2013 | -19.3% | Q1 2021 (13.8 yrs) | +53.1% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 234's index has changed +90.0% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 234 after inflation | VA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +0.2% | -0.1% | -0.2% | -0.8% |
| 3 years | +9.8% | +6.9% | +5.6% | +5.2% | +2.8% |
| 5 years | +24.0% | +16.4% | +16.2% | +15.6% | +13.9% |
| 10 years | +39.1% | +29.0% | +31.9% | +28.1% | +39.0% |
| Since Q1 1995 | +121% | +90.0% | +82.4% | +75.7% | +76.8% |
Estimate appreciation for a home in ZIP3 234
Regional estimate
$538,178
- Estimated gain
- $238,178
- Index change
- +79.39%
- Start index
- 234.48
- End index
- 420.64
ZIP3 234 (Virginia Beach, VA area), Q2 2016 to Q2 2026. Index type: Native 3-Digit ZIP index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 233 · Chesapeake, VA area | VA | +3.9% | +44.6% | +291% |
| 235 · Norfolk, VA area | VA | +1.9% | +38.8% | +308% |
| 237 · Portsmouth, VA area | VA | +3.6% | +43.4% | +289% |
| 236 · Newport News, VA area | VA | +2.2% | +41.0% | +245% |
| 279 · Elizabeth City, NC area | NC | -1.9% | +50.6% | +331% |
| 238 · Petersburg, VA area | VA | +3.3% | +49.7% | +251% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 420.64 |
| Q1 2026 | 415.27 |
| Q4 2025 | 405.70 |
| Q3 2025 | 406.52 |
| Q2 2025 | 404.06 |
| Q1 2025 | 395.85 |
| Q4 2024 | 394.49 |
| Q3 2024 | 383.30 |
| Q2 2024 | 380.54 |
| Q1 2024 | 370.24 |
| Q4 2023 | 367.84 |
| Q3 2023 | 364.62 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 234?
- Based on FHFA HPI® data for 3-digit ZIP region 234, the regional index changed +4.1% over the year to Q2 2026, +44.4% over five years, +79.4% over ten years, and +321% since Q1 1995.
- Is ZIP3 234 appreciating faster than Virginia and the U.S.?
- Over the past year the region's index +4.1% compares with +3.8% for Virginia and +3.0% for the U.S., a gap of +1.1 pts versus the nation. Over five years the gap versus the nation is +3.1 pts.
- Which ZIP codes are in 3-digit ZIP region 234?
- All ZIP codes that begin with 234. Census 2010 ZIP Code Tabulation Areas in this region run from 23401 to 23488 (45 areas). FHFA publishes one index for the whole 3-digit region, not for each 5-digit ZIP code.
- Can I use this to value my home?
- No. The FHFA HPI® is a broad regional index of average price movement. It is not an appraisal, tax assessment, or automated valuation of any individual property. Use it as general context alongside local sales and a professional opinion.