Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Chesapeake area can be challenging. Home prices in Chesapeake are now at a median cost of $299,034, lower than the Virginia average of $323,261.
The average cost of rent is $1,558/mo in Chesapeake, primarily driven by the current value of real estate in the Chesapeake area. While nearly 24.83% of residents own their homes outright in Chesapeake, 28.39% rent.
Housing affordability isn’t just about home prices, though. The average household income in Chesapeake is $7,642 per month. Households that rent pay about 20.39% of their income on rent here. Chesapeake's most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Portsmouth, VA: less expensive homes
- Norfolk, VA: less expensive homes
- Virginia Beach, VA: equally priced homes
- Suffolk, VA: equally priced homes
- Dawley Corners, VA: higher priced homes
- Longview, VA: equally priced homes
- Everets, VA: less expensive homes
- Orbit, VA: less expensive homes
- Windsor, VA: less expensive homes
- Whitley, VA: equally priced homes
Cities with Similar Populations
- St. Joseph, MO: less expensive homes
- Spokane, WA: equally priced homes
- Southfield, MI: less expensive homes
- Snellville, GA: less expensive homes
- St. Cloud, MN: less expensive homes
- Savannah, GA: less expensive homes
- San Francisco, CA: higher priced homes
- Santa Maria, CA: higher priced homes
- Slidell, LA: less expensive homes
- Scranton, PA: less expensive homes
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