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Chesapeake city Housing Market

Virginia · 133 counties · Ranked #2828 in home value

Above National Avg

Housing at a Glance

Median Home Value

$359,100

vs national+$359,100 vs $281,900 national

Median Gross Rent

$1,523/mo

vs national+$1,523 vs $1,163 national

Effective Tax Rate

0.82%

vs national0.82% vs 1.02% national

Median Household Income

$94,189

vs national+$94,189 vs $74,755 national

Affordability Ratio

3.8x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

33.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$2,937

Tax as % of Home Value

0.82%

Monthly Owner Cost

$1,787

Renter Income

$54,251

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Similar Counties by Home Value

Lower Connecticut River Valley Planning Region

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Frequently Asked Questions

What is the median home value in Chesapeake city?

The median home value in Chesapeake city is $359,100. This is above the national median of $281,900.

How much is rent in Chesapeake city?

The median gross rent in Chesapeake city is $1,523 per month.

What is the property tax rate in Chesapeake city?

The effective property tax rate in Chesapeake city is 0.82%. The median annual property tax bill is $2,937.

Is Chesapeake city affordable?

With a home-value-to-income ratio of 3.8x, Chesapeake city is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.