ZIP Code · VA

ZIP 23321

Part of Chesapeake, VA

Pop. 40,176·Chesapeake City·128th most expensive ZIP in Virginia

Median rent (all units)

$1,805/mo

Year-over-Year

+4.8%

Month-over-Month

-0.7%

vs US Median

-$127

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 23321 · $1,805

More affordable than 51% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,510

1 BR

$1,530

2 BR

$1,730

3 BR

$2,400

4 BR+

$2,820

Research median

$1,730/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

Compared with the peak

Rent in ZIP 23321 is 0.8% below its high of $1,819 in July 2026, at $1,805 as of September 2026.

Past year vs. the rest of Virginia

Rent in ZIP 23321 changed +4.8% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has fallen 2 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($101,568) is $2,539 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,400); a 4-bedroom is $2,820.

Rank in Chesapeake

2nd cheapest of 6 ZIP codes in Chesapeake.

Cheaper nearby

ZIP 23702, 5 miles away, rents for 12% less ($1,597/mo), about $2,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 23321. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,660/yr

At $1,805/mo median

Location

CityChesapeake

StateVA

CountyChesapeake City

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.8% YoY, -0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 23321 (Chesapeake, VA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 39.3% of residents hold a bachelor's degree or higher.

Population

40,176

Median income

$101,568

Median age

37.1

Renters

20.3%

Age distribution

27.4%

19.6%

28%

13.9%

Under 1827.4%

18–3419.6%

35–5428%

55–6411%

65+13.9%

Gender

47.6%

52.4%

Male47.6%

Female52.4%

Race & ethnicity

50.2%

37.6%

White50.2%

Black37.6%

Hispanic5.5%

Asian3%

Other3.8%

Education (25+)

24.1%

33.2%

39.3%

No HS diploma3.4%

HS diploma24.1%

Some college33.2%

Bachelor's+39.3%

Housing tenure

79.7%

20.3%

Owner79.7%

Renter20.3%

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

2023 vs 2026

How ZIP 23321 in Chesapeake, VA has changed in 5 years

Rent

$1,496 → $1,805

up 20.7%

Income

$86,727 → $101,568

up 17.1%

Population

38,325 → 40,176

up 4.8%

Renter share

23.2% → 20.3%

-2.9 pts

Bachelor's+

40.3% → 39.3%

-1.0 pts

Compared with 2023, rent in ZIP 23321 in Chesapeake, VA has increased by $309 per month, settling near $1,805 after starting the period at $1,496. Census figures show median household income at $101,568 today, compared with $86,727 five years earlier. Rent outpaced income growth by roughly 3.6 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 38,325 to 40,176 between 2021 and 2024, a 4.8% change. About 20.3% of households rent today, against 23.2% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.

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Local insights

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About renting in ZIP 23321

Last updated: October 17, 2026

ZIP code 23321 covers Chesapeake, VA. The median rent here is $1,805/mo as of October 2026. A 1-bedroom rents for a median of $1,530/mo. A 2-bedroom rents for a median of $1,730/mo.

At 21% of local median household income ($101,568/yr), ZIP 23321 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23321?

To keep rent at or below 30% of gross income, you would need to earn at least $72,000/year (about $35/hour full-time) to afford the median rent of $1,805/mo in ZIP 23321. The local median household income is $101,568/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 23321?

Rent in ZIP 23321 has risen 4.8% over the past year as of September 2026. It sits 0.8% below its high of $1,819 in July 2026.

How does ZIP 23321 compare to other ZIPs in Virginia?

ZIP 23321 is in the middle among Virginia ZIP codes for rent, ranking #128 of 194 at $1,805/mo. Over the year to September 2026, rent in ZIP 23321 changed +4.8%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.