83 / 100

Chesapeake city, VA

RANK #168 / 1001 NAT  ·  #4 / 37 VA  ·  POP 252,583

1YR FORECAST: +1.9%

5YR OUTLOOK: +34%

Our model projects Chesapeake city's housing market to grow +1.9% over the next year, significantly outpacing the national average.

[01] Why Chesapeake city?

Chesapeake, Virginia, distinguishes itself with the historic Dismal Swamp Canal, the oldest continuously operating man-made canal in the United States, which forms part of the Atlantic Intracoastal Waterway. This waterway, along with the expansive Great Dismal Swamp National Wildlife Refuge, offers significant outdoor recreation opportunities like kayaking, fishing, and hiking. Located in coastal Virginia, Chesapeake blends urban and rural landscapes. It is a short drive from Norfolk and Virginia Beach, with commute options including regional bus services, though a car is often necessary due to the city's spread-out nature. The community maintains a suburban feel with access to natural scenery. Deep Creek Lock Park also provides trails and canoe access to the Dismal Swamp Canal.

Life in Chesapeake is often characterized by its family-friendly environment and access to quality education through Chesapeake Public Schools. The city has a diverse economy, attracting various businesses and offering a range of housing options. Recent economic developments show investment flowing into sectors like manufacturing and agribusiness, with companies expanding their operations. The city actively promotes economic development through investment programs and leveraging its Foreign Trade Zone status. However, the region faces challenges with housing affordability, as rents have increased, impacting critical workers.

MARKET PROFILE
LEANS TOWARD

Educated Suburban Growth

Chesapeake city is one of 110 U.S. counties in this market profile — stronger than typical on the BoomTown Index. Within this cohort, its recent home-price change of +3.1% runs above the profile's typical +2.4%.

See all 110 Educated Suburban Growth counties →

[02] Market Snapshot

Housing Ratio
14.7x

Overvalued relative to economy

Home Prices
+3.1%

Outpacing national median

Climate & Terrain
0.5

Moderate climate & terrain

Price/Rent
16x

Above national median (15x)

Housing looks overvalued at 14.7x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Chesapeake City Public Schools Education
    5,000+
  2. 2
    Chesapeake Regional Medical Center Healthcare
    1,000+
  3. 3
    Walmart Retail
  4. 4
    Dollar Tree Headquarters Retail
  5. 5
    City of Chesapeake Government Government
  6. 6
    Sentara Healthcare Healthcare
  7. 7
    USAA Finance
  8. 8
    Cox Communications Technology
  9. 9
    Amazon Fulfillment Services Inc. Logistics
  10. 10
    Food Lion Retail

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Chesapeake city U.S. National

Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).

The Numbers

DEMOGRAPHICS
Population
252,583
+0.57% YoY
Median Household Income
$95,373
Median Home Value
$378,400
+3.11% 12mo
Median Rent
$1,586
Average Annual Pay
$60,380
+2.6% YoY
Employment
107,427
+2.6% YoY
Income-to-Home-Value
0.252
More affordable than average
Migration Inflow
4.63%
of pop. from another state
Bachelor's Degree+
36.9%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Building Permits (2025)
846
Single-Family Permits
551

[05] Crime & Safety

C
SAFETY
GRADE
Homicide Rate
7.6
per 100K · nat avg 6.3
Firearm Fatalities
15.7
per 100K · nat avg 14.8
Injury Deaths
64.0
per 100K · nat avg 76.3
vs National Average
Above national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Capital Investment

$11,838M
TOTAL
PROJECT AMOUNT STATUS
Coastal Virginia Offshore Wind (CVOW) Commercial Project (Chesapeake infrastructure)
Dominion Energy Virginia
$10,700M Under Construction
LS GreenLink Subsea Power Cable Manufacturing Facility
LS GreenLink USA, Inc. (subsidiary of LS Cable & System of South Korea)
$681M Under Construction
NextEra Chesapeake Solar PV Park
NextEra Energy Resources
$135M Operating
Chesapeake Solar Project
Chesapeake Solar Project, LLC
$132M Operating
Yadkins Energy Center (Battery Storage System)
Yadkins Energy Center, LLC
$100M Planned
Virginia Natural Gas Compressor Station
Virginia Natural Gas
$90M Approved

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[07] Score Breakdown

Population Growth +0.6% 47 percentile
Income Growth +1.3% 18 percentile
Vacancy Rate 0.7% 78 percentile
Home Price Change +3.1% 68 percentile
Rent Growth +6.9% 91 percentile
Price/Rent 16x 49 percentile

Bars show percentile rank among all 1001 counties.

[08] Frequently Asked Questions

Is Chesapeake city, VA a good place to move to?

Chesapeake city ranks #168 out of 1001 U.S. counties on the Boom Town Index with a score of 83/100, putting it in the top tier nationally. Job growth of +2.6% and a median household income of $95,373 point to a county with active economic momentum.

Is Chesapeake city affordable?

Housing in Chesapeake city is roughly in line with national affordability norms. The median home costs $378,400 and the income-to-home-value ratio sits at 0.25, with rents averaging $1,586/month. Not a bargain, but not a stretch for most local earners either.

Is Chesapeake city growing or shrinking?

Chesapeake city is growing on multiple fronts. Population is up +0.6% year-over-year while employers added jobs at a +2.6% clip — and home values reflect that momentum, rising +3.1% over the past 12 months.

Are people moving to Chesapeake city?

There's a moderate stream of newcomers. About 4.63% of residents moved from another state, which is above average and suggests Chesapeake city has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.

[09] Similar Counties by Size & Score

Culpeper County, VA 84 Bedford County, VA 85 Augusta County, VA 81 Virginia Beach city, VA 81 Franklin County, VA 90 Pittsylvania County, VA 75 Portage County, OH 83 Mahoning County, OH 84