Virginia Beach-Norfolk-Newport News, VA-NC · Virginia
Chesapeake city
251,153 residents836 permits TTM$94,189 median HHI6 ZIP codesUpdated April 28, 2026
Investor first look
Median home value
$359,100
ACS 5-Year
Cap rate proxy
5.7%
FMR × 0.65 ÷ Home Value
Rent-to-income
19.4%
HUD FMR ÷ ACS HHI
Net migration
+2.96%
IRS SOI
Permits (TTM)
836
Census BPS
Climate risk
80.9
FEMA NRI (0–100)
ZIP code breakdown6 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 23324 | $279,386 | $1,460 | 6.3% | 8.4% | -35.1% |
| 23325 | $318,468 | $1,750 | 6.6% | 7.6% | -16.5% |
| 23320 | $381,788 | $2,150 | 6.8% | 6.3% | 5.8% |
| 23321 | $391,365 | $1,730 | 5.3% | 5.4% | -4.0% |
| 23323 | $416,329 | $2,000 | 5.8% | 6.5% | -14.1% |
Ranked by composite score
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Demographics
Owner-occupied
73.8%
Census ACS
Vacancy rate
3.8%
Census ACS
Bachelor's degree +
36.4%
Census ACS
Rent burdened
53.1%
Census ACS (>30% income)
Median age
37.7
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 28, 2026