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City Report · VA

Chesapeake

Pop. 252,583·43rd most expensive in Virginia·Chesapeake rents are up 8.6% over the past year
Median rent (all units)
$2,066/mo
Year-over-Year
+8.6%
Month-over-Month
+1.2%
vs US Median
+$104
Rising (Monthly)
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Most AffordableMost Expensive
Chesapeake · $2,066
More expensive than 62% of US cities · National median $1,962/mo
Rent Reality Score
40/100
Fairly priced
OverheatedFairGreat value

Rents are 5% above what Chesapeake's 10-year trend predicts — running hotter than its own history.

Actual rent
$2,066/mo
Expected by trend
$1,969/mo
The Rent Reality Score compares today's median rent to where Chesapeake's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,637
1 BR
$1,647
2 BR
$1,883
3 BR
$2,622
4 BR+
$3,120
Fair Market Rent (HUD)
$1,883/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,066 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$24,792/yr
At $2,066/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 8.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+8.6% YoY, +1.2% MoM), not inventory.
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Demographics

Who lives here

Chesapeake, VA is majority owner-occupied, has a median income above the national average, 36.9% of residents hold a bachelor's degree or higher.

Population
252,583
Median income
$95,373
Median age
37.9
Renters
25.6%
Age distribution
24.2%
21.5%
27.2%
12.6%
14.6%
Under 1824.2%
18–3421.5%
35–5427.2%
55–6412.6%
65+14.6%
Gender
49.1%
50.9%
Male49.1%
Female50.9%
Race & ethnicity
55.1%
29.1%
White55.1%
Black29.1%
Hispanic7.7%
Asian3.9%
Other4.3%
Education (25+)
24.5%
32.8%
36.9%
No HS diploma5.8%
HS diploma24.5%
Some college32.8%
Bachelor's+36.9%
Housing tenure
74.4%
25.6%
Owner74.4%
Renter25.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Chesapeake, VA has changed in 5 years

Rent
$1,471 → $2,066
up 40.4%
Income
$85,563 → $95,373
up 11.5%
Population
247,172 → 252,583
up 2.2%
Renter share
27.3% → 25.6%
-1.7 pts
Bachelor's+
35.5% → 36.9%
+1.4 pts
Median age
37.1 → 37.9
+0.8 yrs

Rent in Chesapeake, VA has climbed 40.4% since 2021, going from about $1,471 per month to roughly $2,066 today. Local incomes tracked alongside that move, going from a median of $85,563 in 2021 to $95,373 more recently. Rent outpaced income growth by roughly 28.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 247,172 to 252,583 between 2021 and 2024, a 2.2% change. About 25.6% of households rent today, against 27.3% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Chesapeake, VA market of 2021.

Community

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View Chesapeake rent history (2015–2026) →
Salary vs rent

Can you afford rent in Chesapeake on your salary?

At $2,066/mo, how Chesapeake rent compares to typical pay (30% rule).

By apartment size

Chesapeake rent by bedroom count

Median rent for each apartment size in Chesapeake. Click any size for full breakdown.

Local insights

Tips for renters in Chesapeake

About renting in Chesapeake, VA

Last updated: August 17, 2026

The median rent in Chesapeake is $2,066/mo as of August 2026. A studio apartment averages $1,637/mo while a 2-bedroom runs $1,883/mo. One-bedroom apartments average $1,647/mo and 3-bedroom units go for $2,622/mo.

At 26% of local median household income ($95,373/yr), Chesapeake ranks as affordable compared to the national benchmark of 30%. Rents have increased 8.6% over the past year.

FAQ

Frequently asked questions

Is Chesapeake an affordable city for renters?

Chesapeake is considered affordable for renters. At $2,066/mo, rent takes approximately 26% of the local median household income ($95,373/yr). The standard benchmark is 30%. Chesapeake falls comfortably within that range.

How much income do you need to rent in Chesapeake?

To keep rent at or below 30% of gross income, you would need to earn at least $83,000/year (~$40/hour full-time) to afford the median rent of $2,066/mo in Chesapeake. The local median household income is $95,373/yr, meaning the typical Chesapeake household meets that threshold.

Is rent going up or down in Chesapeake?

Rent in Chesapeake has increased 8.6% over the past year as of August 2026, putting upward pressure on renter budgets.

Which Chesapeake neighborhoods have the lowest rent?

The most affordable ZIP codes in Chesapeake are 23321 ($1,871/mo), 23324 ($1,963/mo), and 23325 ($2,005/mo). Citywide, the median rent in Chesapeake is $2,066/mo.

How does Chesapeake rent compare to other cities in Virginia?

Chesapeake is middle-of-the-pack for Virginia for rent, ranking #43 out of 83 tracked cities at $2,066/mo.

Which nearby cities are cheaper to rent in than Chesapeake?

Several nearby cities have lower median rents than Chesapeake ($2,066/mo): Portsmouth ($1,599/mo), Hampton ($1,682/mo), Norfolk ($1,736/mo).

What percentage of Chesapeake residents rent vs. own?

According to Census data, approximately 25.6% of Chesapeake households are renters, while 74.4% are owner-occupied. Chesapeake leans toward homeownership, which can mean a smaller rental inventory.

How does Chesapeake rent compare to the national average?

Chesapeake's median rent of $2,066/mo is $104 (5%) above the US national median of $1,962/mo. Within Virginia, it ranks #43 out of 83 tracked cities.
Income Affordability
26%
AFFORDABLE

At $2,066/mo, rent takes ~26% of Chesapeake's median household income ($95,373/yr). The standard benchmark is 30%.

Chesapeake 26%Benchmark 30%
State income tax2–5.75%
Run the Chesapeake affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Chesapeake, VA

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