Rents are 4% above what Chesapeake's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,063 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 →
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in Chesapeake usually run 0.7% below trend in December and 0.6% above it in July, about $27 a month apart at today's median. Based on 11 years of data.
Rent in Chesapeake is at its highest level since Zillow's records here began in January 2015.
Rent in Chesapeake changed +6.3% over the year to September 2026. Across the 66 Virginia cities Zillow tracks, the typical change was +2.5%.
From 2019 to 2024, rent in Chesapeake rose 37.6% while median household income rose 21.3% ($78,640 to $95,373). Rent outpaced income.
Rent in Chesapeake is 50.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 22 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($95,373) is $2,384 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,883); a 3-bedroom is $2,622.
The priciest of 6 ZIP codes in Chesapeake, 23322 ($2,846/mo), costs 1.7 times the cheapest, 23324 ($1,641/mo).
Portsmouth, 7 miles away, rents for 20% less ($1,642/mo), about $5,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Chesapeake. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Chesapeake, VA has changed in 5 years
Rent in Chesapeake, VA has climbed 40.3% since 2021, going from about $1,470 per month to roughly $2,063 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 28.8 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.
Discussions about Chesapeake
No discussions yet. Start the conversation.
Can you afford rent in Chesapeake on your salary?
At $2,063/mo, how Chesapeake rent compares to typical pay (30% rule).
Chesapeake rent by bedroom count
Median rent for each apartment size in Chesapeake. Click any size for full breakdown.
Tips for renters in Chesapeake
Last updated: October 17, 2026
The median rent in Chesapeake is $2,063/mo as of October 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 6.3% over the past year.
Frequently asked questions
How much income do you need to rent in Chesapeake?
Is rent going up or down in Chesapeake?
When is the cheapest time to rent in Chesapeake?
Has rent outpaced income in Chesapeake?
Which Chesapeake neighborhoods have the lowest rent?
How does Chesapeake rent compare to other cities in Virginia?
Which nearby cities are cheaper to rent in than Chesapeake?
At $2,063/mo, rent takes ~26% of Chesapeake's median household income ($95,373/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Chesapeake.
No discussions yet.