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Suffolk city, VA

RANK #822 / 996 NAT  ·  #27 / 37 VA  ·  POP 94,856

1YR FORECAST: +2.7%

5YR OUTLOOK: +15%

Our model projects Suffolk city's housing market at +2.7% over the next year, underperforming most U.S. counties.

[01] Why Suffolk city?

Suffolk, Virginia, stands out as the "Peanut Capital of the World," a nod to its deep agricultural roots and the historic presence of Planters Peanuts. Located in the Hampton Roads metropolitan area, Suffolk is Virginia's largest city by land area, encompassing 430 square miles of diverse landscapes from urban centers to farmlands and forests. Commuting to nearby cities like Norfolk or Virginia Beach is common, though traffic can add to travel times. The community offers a blend of small-town warmth and growing development, with abundant outdoor recreation opportunities at places like the Great Dismal Swamp National Wildlife Refuge and various city parks.

Life in Suffolk offers a sparse suburban feel, attracting families and professionals with its relatively affordable cost of living compared to other Hampton Roads cities. The economy is diverse, driven by sectors such as agriculture, manufacturing, logistics, and healthcare. Major employers include Amazon and Target distribution centers, benefiting from Suffolk's proximity to the Port of Virginia. The city has seen recent economic growth, with investments in technology, logistics, and healthcare, including expansions by Sentara Healthcare. Suffolk Public Schools serve nearly 14,000 students, and there are also private school options like Nansemond-Suffolk Academy and Suffolk Christian Academy.

[02] Market Snapshot

Housing Ratio
6.6x

Above national median (4.7x)

GDP Growth
+3.8%

Above national median

Home Prices
+1.7%

Above national median

Climate & Terrain
0.2

Moderate climate & terrain

Price/Rent
14x

Above national median (13x)

Housing is fairly valued at 6.6x relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    DoD Joint Staff J7 Military
    1,000+
  2. 2
    US Navy Dom Forces (cyber) Military
  3. 3
    Suffolk Public Schools Education
  4. 4
    U.S. Department of Defense Military
  5. 5
    Science Applications International Corporation (SAIC) Technology
  6. 6
    Sentara Healthcare Healthcare
  7. 7
    City of Suffolk Government
  8. 8
    Target Corp. Retail
  9. 9
    Amazon Logistics
  10. 10
    Walmart Retail
    100+

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Suffolk city U.S. National

The Numbers

DEMOGRAPHICS
Population
94,856
+1.7% YoY
Median Household Income
$87,758
Median Home Value
$314,400
+1.69% 12mo
Median Rent
$1,376
Average Annual Pay
$64,230
+6.0% YoY
Employment
36,408
+3.6% YoY
Income-to-Home-Value
0.2791
More affordable than average
Migration Inflow
6.48%
of pop. from another state
Bachelor's Degree+
32.1%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Building Permits (2024)
680
Single-Family Permits
680

[05] Crime & Safety

C
SAFETY
GRADE
Homicide Rate
7.5
per 100K · nat avg 6.3
Firearm Fatalities
16.1
per 100K · nat avg 14.8
Injury Deaths
69.1
per 100K · nat avg 76.3
vs National Average
Above national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Score Breakdown

GDP Growth +3.8% 70 percentile
Population Growth +1.7% 86 percentile
Income Growth +7.2% 19 percentile
Vacancy Rate 0.9% 61 percentile
Home Price Change +1.7% 55 percentile
Rent Growth +7.0% 91 percentile
Price/Rent 14x 44 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Suffolk city, VA a good place to move to?

The data is not encouraging — Suffolk city scores just 17/100 on the Boom Town Index, ranking #822 of 996 counties. Job growth at +3.6% and median household income of $87,758 reflect an economy that has been contracting or stagnating relative to the rest of the country.

Is Suffolk city affordable?

Housing in Suffolk city is roughly in line with national affordability norms. The median home costs $314,400 and the income-to-home-value ratio sits at 0.28, with rents averaging $1,376/month. Not a bargain, but not a stretch for most local earners either.

Is Suffolk city growing or shrinking?

Suffolk city is growing on multiple fronts. Population is up +1.7% year-over-year while employers added jobs at a +3.6% clip. Home values shifted +1.7% in the past year.

Are people moving to Suffolk city?

In significant numbers — 6.48% of Suffolk city's current population relocated from another state, well above the national norm. That level of in-migration usually signals a county where jobs, affordability, or quality of life are pulling people in from elsewhere.

[08] Similar Counties by Size & Score

York County, VA 17 Montgomery County, VA 16 Albemarle County, VA 16 Roanoke County, VA 19 Pittsylvania County, VA 14 Roanoke city, VA 24 Moore County, NC 17 Sutter County, CA 18