Chesapeake, VA housing market
Typical home value
$424K
▲ 3.6% 1 yr
Typical rent
$2,063/mo
▲ 6.3% 1 yr
Gross rent yield
5.8%
U.S. 6.3%
5-year home value change
+27%
U.S. +20%
Key takeaways
- 1The typical home in Chesapeake is worth $424,217, up 3.6% over the past year and up 27% over five years.
- 2Typical rent is $2,063 a month (+6.3% YoY), a gross rent yield of 5.8% (below the Virginia Beach, VA metro's 6.1%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $2,331/mo, $268 more than typical rent.
- 4Zillow forecasts the Virginia Beach, VA metro's home values to change +2.3% over the next 12 months.
Market temperature (Virginia Beach, VA metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 35/100, #352 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Chesapeake compares
| Measure | Chesapeake | Virginia Beach, VA metro | United States |
|---|---|---|---|
| Typical home value | $424,217 | $371,181 | $366,157 |
| Home value, 1-yr change | +3.6% | +2.9% | +1.2% |
| Typical rent | $2,063 | $1,886 | $1,932 |
| Rent, 1-yr change | +6.3% | +7.1% | +2.7% |
| Gross rent yield | 5.8% | 6.1% | 6.3% |
| Price-to-rent ratio | 17.1 | 16.4 | 15.8 |
| Mortgage P&I, typical home | $2,331 | $2,040 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Chesapeake rental, pre-filled.
Rent vs buy in Chesapeake
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $424K home.
Other cities in the Virginia Beach, VA metro
Virginia Beach, VA
$425K home$2,098 rent
▲ 3.1% 1 yr
Norfolk, VA
$311K home$1,749 rent
▲ 1.5% 1 yr
Newport News, VA
$292K home$1,593 rent
▲ 2.9% 1 yr
Hampton, VA
$279K home$1,690 rent
▲ 2.5% 1 yr
Portsmouth, VA
$267K home$1,642 rent
▲ 2.5% 1 yr
Williamsburg, VA
$469K home$2,094 rent
▲ 2.1% 1 yr
Suffolk, VA
$387K home$2,028 rent
▲ 2.8% 1 yr
Yorktown, VA
$480K home$2,049 rent
▲ 2.6% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.