RANK #168 / 1001 NAT · #4 / 37 VA · POP 252,583
1YR FORECAST: +1.9%
5YR OUTLOOK: +34%
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.
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 →Overvalued relative to economy
Moderate climate & terrain
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.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
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).
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 →
| 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.
Bars show percentile rank among all 1001 counties.
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.
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.
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.
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.