The typical owner-occupied home in Hampton city is worth about $245,700, 36% below the Virginia median of $383,700 and 26% below the national median of $332,700. Owners pay a median $2,327 a year in property taxes, about 0.95% of their home's value, higher than the Virginia rate of 0.73%. The median household earns $69,621 a year, so the median home costs 3.5 times the median income (4.1 times for Virginia). 57% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Hampton city at a glance
| Hampton city | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $245,700 | $383,700 | $332,700 |
| Median property tax paid per year | $2,327 | $2,790 | $3,119 |
| Property tax as a share of value | 0.95% | 0.73% | 0.94% |
| Median household income | $69,621 | $93,170 | $80,734 |
| Homes lived in by their owners | 57% | 67% | 65% |
| Owner homes with a mortgage | 71% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,704 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 20.1% | 21.0% |
| Median rent | $1,427 | $1,579 | $1,413 |
| Rent as a share of renters' income | 34.1% | 29.4% | 30.6% |
| Median year homes were built | 1974 | 1984 | 1980 |
| Vacant homes | 7.2% | 8.7% | 10.1% |
| Population | 137,557 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Hampton city
At this week's average 30-year rate of 7.11%, buying the median Hampton city home of $245,700 with 20% down costs about $1,619 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,028, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $69,393 for the 20%-down payment. That payment is 28% of the median Hampton city household income of $69,621; at that income and 20% down, the 28% guideline points to a home of about $247,000.
The median rent here is $1,427 a month, so owning the median home costs about $192 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,140 |
|---|---|
| Loan amount | $196,560 |
| Principal and interest | $1,322 |
| Property taxes (0.95% a year) | $195 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| PMI | $0 |
| Total per month | $1,619 |
Change the numbers in the calculator
| Down payment | $8,600 |
|---|---|
| Loan amount | $241,250 |
| Principal and interest | $1,623 |
| Property taxes (0.95% a year) | $195 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| FHA mortgage insurance | $109 |
| Total per month | $2,028 |
Change the numbers in the calculator
Questions about home buying in Hampton city
What is the median home value in Hampton city?
About $245,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hampton city?
Homeowners pay a median $2,327 a year, which is about 0.95% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hampton city?
For the median home with 20% down at 7.11%, the payment is about $1,619 a month. Keeping that under 28% of gross income takes about $69,393 a year.
More about Hampton city
- Mortgage Refinance in Hampton city
- Debt Relief in Hampton city
- Home Equity Loans in Hampton city
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data