3-digit ZIP regional index
Home appreciation in ZIP codes 235xxNorfolk, VA area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 235 changed +1.9% over the year to Q2 2026, compared with +3.8% for Virginia and +3.0% for the United States.
The region covers ZIP codes 23502–23551. Most of its 2010 population lived in Norfolk city (100%). This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +1.9%
- 5-year change
- +38.8%
- Since Q1 1995
- +308%
- National rank (1 year)
- 662nd
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 235 vs Virginia and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 235: 408.2
- 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 235 | VA | U.S. | Gap vs VA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.9% | +3.8% | +3.0% | −1.8 pts | −1.1 pts |
| 3 years | +12.3% | +15.9% | +12.9% | −3.7 pts | −0.6 pts |
| 5 years | +38.8% | +44.1% | +41.3% | −5.3 pts | −2.5 pts |
| 10 years | +73.7% | +83.4% | +93.3% | −9.7 pts | −19.6 pts |
| Since Q1 1995 | +308% | +304% | +292% | +4.4 pts | +16.6 pts |
If you bought in ZIP3 235 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 | +292% | $1,174,561 |
| Q2 2000 | +241% | $1,022,445 |
| Q2 2005 | +81.0% | $542,910 |
| Q2 2010 | +66.8% | $500,298 |
| Q2 2015 | +77.7% | $533,148 |
| Q2 2020 | +53.9% | $461,807 |
| Q2 2021 | +38.8% | $416,292 |
| Q2 2023 | +12.3% | $336,793 |
| Q2 2025 | +1.9% | $305,845 |
How ZIP3 235 ranks
Over the past year ZIP3 235 ranks 662nd of 882 3-digit ZIP regions nationally and 24th of 28 in Virginia. Its one-year change is −1.1 pts versus the nation and −1.8 pts versus Virginia. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Virginia |
|---|---|---|
| 1 year | 662nd of 882 | 24th of 28 |
| 3 years | 628th of 882 | 24th of 28 |
| 5 years | 637th of 882 | 23rd of 28 |
| 10 years | 689th of 882 | 23rd of 28 |
| Since Q1 1995 | 276th of 879 | 8th of 28 |
Boom, bust, and recovery in ZIP3 235
ZIP3 235's index peaked in Q2 2007, fell 21.1% to its low in Q4 2013, and regained its peak in Q1 2021, about 13.8 years after the top. Today it sits +46.9% 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 235 | Q2 2007 | Q4 2013 | -21.1% | Q1 2021 (13.8 yrs) | +46.9% |
| 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 235's index has changed +84.3% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 235 after inflation | VA after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | -1.8% | -0.1% | -0.2% | -0.8% |
| 3 years | +9.8% | +2.2% | +5.6% | +5.2% | +2.8% |
| 5 years | +24.0% | +11.9% | +16.2% | +15.6% | +13.9% |
| 10 years | +39.1% | +24.9% | +31.9% | +28.1% | +39.0% |
| Since Q1 1995 | +121% | +84.3% | +82.4% | +75.7% | +76.8% |
Estimate appreciation for a home in ZIP3 235
Regional estimate
$521,233
- Estimated gain
- $221,233
- Index change
- +73.74%
- Start index
- 234.92
- End index
- 408.16
ZIP3 235 (Norfolk, 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% |
| 234 · Virginia Beach, VA area | VA | +4.1% | +44.4% | +321% |
| 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 | 408.16 |
| Q1 2026 | 404.06 |
| Q4 2025 | 408.20 |
| Q3 2025 | 402.22 |
| Q2 2025 | 400.36 |
| Q1 2025 | 379.20 |
| Q4 2024 | 382.82 |
| Q3 2024 | 375.69 |
| Q2 2024 | 378.22 |
| Q1 2024 | 372.25 |
| Q4 2023 | 359.90 |
| Q3 2023 | 372.67 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 235?
- Based on FHFA HPI® data for 3-digit ZIP region 235, the regional index changed +1.9% over the year to Q2 2026, +38.8% over five years, +73.7% over ten years, and +308% since Q1 1995.
- Is ZIP3 235 appreciating faster than Virginia and the U.S.?
- Over the past year the region's index +1.9% 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 −2.5 pts.
- Which ZIP codes are in 3-digit ZIP region 235?
- All ZIP codes that begin with 235. Census 2010 ZIP Code Tabulation Areas in this region run from 23502 to 23551 (14 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.