ZIP Code · VA

ZIP 23320

Part of Chesapeake, VA

Pop. 59,108·Chesapeake City·85th most expensive ZIP in Virginia

Median rent (all units)

$2,084/mo

Year-over-Year

+7.8%

Month-over-Month

+0.6%

vs US Median

+$152

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 23320 · $2,084

More expensive than 65% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,870

1 BR

$1,900

2 BR

$2,150

3 BR

$2,980

4 BR+

$3,510

Research median

$2,150/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 23320 usually run 0.8% below trend in December and 0.8% above it in August, about $33 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 23320 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Virginia

Rent in ZIP 23320 changed +7.8% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 23320 rose 35.8% while median household income rose 15.2% ($73,192 to $84,305). Rent outpaced income.

Since before the pandemic

Rent in ZIP 23320 is 53.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 14 months in a row, and rose in 12 of the last 12 months.

What a typical income covers

30% of the median household income ($84,305) is $2,108 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,900); a 2-bedroom is $2,150.

Rank in Chesapeake

4th cheapest of 6 ZIP codes in Chesapeake.

Cheaper nearby

ZIP 23325, 4 miles away, rents for 11% less ($1,864/mo), about $2,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 23320. 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.

Annual cost

$25,008/yr

At $2,084/mo median

Location

CityChesapeake

StateVA

CountyChesapeake City

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 7.8% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+7.8% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 23320 (Chesapeake, VA) is majority owner-occupied, 38.5% of residents hold a bachelor's degree or higher.

Population

59,108

Median income

$84,305

Median age

39.2

Renters

35.5%

Age distribution

19%

24.2%

26.8%

13.7%

16.3%

Under 1819%

18–3424.2%

35–5426.8%

55–6413.7%

65+16.3%

Gender

47.7%

52.3%

Male47.7%

Female52.3%

Race & ethnicity

49.7%

29.1%

White49.7%

Black29.1%

Hispanic9.9%

Asian6.8%

Other4.5%

Education (25+)

21.9%

34.6%

38.5%

No HS diploma5%

HS diploma21.9%

Some college34.6%

Bachelor's+38.5%

Housing tenure

64.5%

35.5%

Owner64.5%

Renter35.5%

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

2021 vs 2026

How ZIP 23320 in Chesapeake, VA has changed in 5 years

Rent

$1,479 → $2,084

up 40.9%

Income

$78,516 → $84,305

up 7.4%

Population

60,180 → 59,108

down 1.8%

Renter share

37.5% → 35.5%

-2.0 pts

Bachelor's+

38% → 38.5%

+0.5 pts

Median age

37 → 39.2

+2.2 yrs

Rent in ZIP 23320 in Chesapeake, VA has climbed 40.9% since 2021, going from about $1,479 per month to roughly $2,084 today. Median household income grew from $78,516 to $84,305 between 2021 and 2024, a 7.4% shift. Rent outpaced income growth by roughly 33.5 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 60,180 to 59,108 between 2021 and 2024, a 1.8% change. About 35.5% of households rent today, against 37.5% in 2021. Taken together, the five-year picture in ZIP 23320 in Chesapeake, VA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 23320

Last updated: October 17, 2026

ZIP code 23320 covers Chesapeake, VA. The median rent here is $2,084/mo as of October 2026. A 1-bedroom rents for a median of $1,900/mo. A 2-bedroom rents for a median of $2,150/mo.

At 30% of local median household income ($84,305/yr), ZIP 23320 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23320?

To keep rent at or below 30% of gross income, you would need to earn at least $83,000/year (about $40/hour full-time) to afford the median rent of $2,084/mo in ZIP 23320. The local median household income is $84,305/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 23320?

Rent in ZIP 23320 has risen 7.8% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 23320?

Asking rents in ZIP 23320 are usually lowest in December, about 0.8% below their yearly trend, and highest in August, about 0.8% above it. At today's median that is a gap of roughly $33 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 23320?

Yes. From 2019 to 2024, rent in ZIP 23320 rose 35.8% while median household income rose 15.2%, from $73,192 to $84,305. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 23320 compare to other ZIPs in Virginia?

ZIP 23320 is in the middle among Virginia ZIP codes for rent, ranking #85 of 194 at $2,084/mo. Over the year to September 2026, rent in ZIP 23320 changed +7.8%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.