ZIP Code · VA

ZIP 23434

Part of Suffolk, VA

Pop. 54,387·Suffolk City·123rd most expensive ZIP in Virginia

Median rent (all units)

$1,853/mo

Year-over-Year

+4.3%

Month-over-Month

+1.0%

vs US Median

-$95

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 23434 · $1,853

More expensive than 52% of US ZIP codes · National median $1,948/mo

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Medians by bedroom

Rent by unit size

Studio

$1,400

1 BR

$1,420

2 BR

$1,610

3 BR

$2,230

4 BR+

$2,630

Research median

$1,610/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: September 25, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 23434 is at its highest level since Zillow's records here began in January 2022.

Past year vs. the rest of Virginia

Rent in ZIP 23434 changed +4.3% over the year to August 2026. Across the 170 Virginia ZIP codes Zillow tracks, the typical change was +3.1%.

Recent direction

Rent has risen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($79,877) is $1,997 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,610); a 3-bedroom is $2,230.

From Zillow's monthly rent index (ZORI) for ZIP 23434. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,236/yr

At $1,853/mo median

Location

CitySuffolk

StateVA

CountySuffolk City

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 4.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+4.3% YoY, +1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 23434 (Suffolk, VA) is majority owner-occupied, 27% of residents hold a bachelor's degree or higher.

Population

54,387

Median income

$79,877

Median age

38.1

Renters

31.5%

Age distribution

24.4%

21.8%

25.6%

13.4%

14.8%

Under 1824.4%

18–3421.8%

35–5425.6%

55–6413.4%

65+14.8%

Gender

47.5%

52.5%

Male47.5%

Female52.5%

Race & ethnicity

41.9%

48.6%

White41.9%

Black48.6%

Hispanic4.7%

Asian1%

Other3.8%

Education (25+)

27.3%

35.1%

27%

No HS diploma10.6%

HS diploma27.3%

Some college35.1%

Bachelor's+27%

Housing tenure

68.5%

31.5%

Owner68.5%

Renter31.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 23434 in Suffolk, VA has changed in 5 years

Rent

$1,465 → $1,853

up 26.5%

Income

$68,607 → $79,877

up 16.4%

Population

50,306 → 54,387

up 8.1%

Renter share

33.8% → 31.5%

-2.3 pts

Bachelor's+

24.2% → 27%

+2.8 pts

Across the past five years, the going rent in ZIP 23434 in Suffolk, VA has shifted from $1,465 to $1,853, up 26.5% since 2022. Census figures show median household income at $79,877 today, compared with $68,607 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 23434 in Suffolk, VA adding about 4,081 residents over the five-year window, up 8.1% on net. The renter share has eased from 33.8% to 31.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 24.2% to 27% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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Local insights

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About renting in ZIP 23434

Last updated: September 25, 2026

ZIP code 23434 covers Suffolk, VA. The median rent here is $1,853/mo as of September 2026. A 1-bedroom rents for a median of $1,420/mo. A 2-bedroom rents for a median of $1,610/mo.

At 28% of local median household income ($79,877/yr), ZIP 23434 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23434?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (about $36/hour full-time) to afford the median rent of $1,853/mo in ZIP 23434. The local median household income is $79,877/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 23434?

Rent in ZIP 23434 has risen 4.3% over the past year as of August 2026. That is the highest level since Zillow's records here began in January 2022.

How does ZIP 23434 compare to other ZIPs in Virginia?

ZIP 23434 is in the middle among Virginia ZIP codes for rent, ranking #123 of 197 at $1,853/mo. Over the year to August 2026, rent in ZIP 23434 changed +4.3%, against a typical +3.1% across the 170 Virginia ZIP codes Zillow tracks.