Cost of Living in Chesapeake city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Chesapeake city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Chesapeake city ranks #2,991 of 3,142 counties for affordability (bottom 5%)
Sourced county brief
Chesapeake City Median Gross Rent Reaches $1,586 Monthly
In Chesapeake city, the median gross rent was estimated at $1,586 per month, which is $416 above the Virginia unweighted county mean of $1,170. The official median gross rent as a percentage of household income (GRAPI), found in ACS table B25071, is 33.8%. This percentage is 5.2 percentage points higher than the Virginia unweighted county mean official GRAPI of 28.6%. For owner-occupied units, median selected monthly owner costs were $1,821, exceeding the state unweighted county mean of $1,190. The median home value in the city is $378,400, compared to the unweighted county mean of $295,808. Median renter-household income was recorded at $54,319. These figures describe the housing cost environment for the 2020-2024 period. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Chesapeake city
Affordability Verdict
ACS B25071 estimates median gross rent at 33.8% of renter household income in Chesapeake city, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,586 per month; median selected monthly owner costs are $1,821. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $63,440 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Virginia unweighted mean of county median rents is $1,170 per month. Chesapeake city's $1,586 median is 35.6% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Chesapeake city
Rent Burden
20.0%
of gross income
Max Housing (28% Rule)
$2,225
per month
Owner Cost Burden
22.9%
of gross income
The median home in Chesapeake city may be a stretch
Median home value is $378,400. Estimated monthly cost: $3,021 vs. your max of $2,225.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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