Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$424,806+3.6% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 25% have cut their price
Income needed to buy, per year$92,089About 1.0× the local median income ($90,226): a stretch for a typical household
Days on market45 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.3%Zillow expects prices to rise slightly
The typical home in Chesapeake City, VA is worth $424,806, up 3.6% from a year ago. That is well above what local incomes have historically supported: fair value is about $360,228, so the area is 17.9% overvalued. It is a buyer's market: homes take about 45 days to sell, listings are up 19% from a year ago, 25% of listings have had a price cut. Zillow expects prices to rise about 2.3% over the next year. A household needs about $92,089 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $90,226. Typical rent is $2,058 a month, or $2,515 for a house. In the latest IRS figures, 145 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$424,806
Change in 1 year
+3.6%
Overvalued %
+17.9%
Show 7 more
Fair home value
$360,228
Change in 5 years
+27.2%
Zillow forecast, next 12 months
+2.3%
Home value to income
4.7×
Monthly mortgage payment (20% down)
$2,302
Income needed to afford it
$92,089
Property tax rate
0.82%
Rent and investing
Typical rent
$2,058
Typical rent for houses
$2,515
Price-to-rent ratio
17.2×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,667
Gross rental yield
5.81%
Cap rate (estimate)
3.78%
Market activity
Listings vs a year ago
+18.8%
Days on market
45
Listings with a price cut
24.6%
Show 3 more
Homes for sale
770
Pending sales per 100 listings
0
Asking price per sq ft
$227
People and jobs
Median household income
$90,226
Population change (1 year)
+0.2%
Unemployment rate
4.9%
Show 4 more
Population
255,332
Income adjusted for cost of living
$92,161
Net moves in (IRS)
+145
Cost of living (US = 100)
97.9
Schools, risk and environment
School rating (1 to 10)
7.4
FEMA hazard risk score (0 to 100)
80.9
Flood risk score
82.9
Show 3 more
Wildfire risk score
66.4
Walkability (1 to 20)
9.3
Road, rail and air noise
53 dB
Questions people ask
Is Chesapeake City, VA overvalued?
Home prices in Chesapeake City, VA are well above what local incomes have historically supported: fair value is about $360,228, so the area is 17.9% overvalued.
Is Chesapeake City, VA a buyer's or seller's market?
Chesapeake City, VA is a buyer's market: homes take about 45 days to sell, listings are up 19% from a year ago, 25% of listings have had a price cut.
Are home prices going down in Chesapeake City, VA?
Home values in Chesapeake City, VA are up 3.6% over the last year. Zillow's forecast for the next 12 months is +2.3%.
How much do you need to earn to buy a home in Chesapeake City, VA?
A household needs about $92,089 a year to afford the typical home in Chesapeake City, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $90,226.