Cost of Living in Chesterfield County, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Chesterfield County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Chesterfield County ranks #2,259 of 3,144 counties for affordability (bottom 28%)
Data Story
About Cost of Living in Chesterfield County, Virginia
Chesterfield rents are just barely affordable nationally
At 18.7%, Chesterfield's rent-to-income ratio sits nearly at the national affordability standard of 18.6%, meaning renters here keep an appropriate share of income for non-housing expenses. With a median household income of $98,910—32% above the national average—residents have strong income relative to the $1,542 monthly rent.
Chesterfield edges out Virginia's affordability average
At 18.7%, Chesterfield sits just slightly above Virginia's state average rent-to-income ratio of 18.6%, ranking it among the more affordable major counties in the state. The county's high median income of $98,910 helps maintain this competitive position despite rents running above the state median of $1,140.
Chesterfield balances costs between wealthy suburbs and rural areas
Chesterfield's $1,542 rent falls between wealthier Culpeper ($1,417) and premium Clarke County ($1,360), while substantially exceeding rural options like Cumberland ($847). As Richmond's prosperous suburb, Chesterfield offers suburban amenities at prices between urban and rural Virginia options.
Owners pay slightly less than renters in Chesterfield
Renters spend $1,542 monthly while homeowners pay $1,570 in mortgage costs—nearly identical despite different market dynamics. At 18.7% of a typical household's $8,243 monthly income, housing costs consume roughly $1,541, leaving substantial income for other necessities and discretionary spending.
Chesterfield works best for established households seeking stability
If you want suburban Richmond living with strong schools and job markets without premium pricing, Chesterfield's balanced affordability and nearly $99K median income deliver both stability and accessibility. First-time renters might explore more affordable counties, while families with solid incomes will find solid value here.
Cost of Living Advisory: Chesterfield County
Affordability Verdict
Housing in Chesterfield County is affordable. The median rent is $1,542/month against a median household income of $98,910, putting rent at 18.7% of income.
Rent vs. Own
At $1,542/month rent versus $1,570/month in owner costs, renting is roughly $28/month cheaper — a 2% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $61,680/year. For owner costs at the 28% rule, the required income is roughly $67,286/year. With a median household income of $98,910, most households can comfortably afford rent here. Notably, 30.0% of renter households in Chesterfield County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to James City County where rent averages $1,491/month, Chesterfield County is approximately 3% more expensive.
Affordability Calculator
See how your income compares to housing costs in Chesterfield County
Rent Burden
18.7%
of gross income
Max Housing (28% Rule)
$2,308
per month
Owner Cost Burden
19.0%
of gross income
The median home in Chesterfield County may be a stretch
Median home value is $336,700. Estimated monthly cost: $2,688 vs. your max of $2,308.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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 (2019-2023) — Informational only. Not financial or legal advice.
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