Chesapeake appears moderately affordable relative to its income and housing benchmarks. With a median household income of $95,373, the median gross rent of $1,586 represents about 20% of monthly income, which is within a commonly cited affordability threshold. However, the uniform non-housing calculator baseline of $1,250 per month (a model assumption, not local data) suggests that after housing, $336 remains for other essentials, indicating tight budget constraints for some households. Affordability varies by income level and housing type.
Chesapeake at a glance
What the default budget models
A one-person renting household begins with a modeled annual core-cost baseline of $34,032. It combines the ACS median gross-rent estimate with a uniform $1,250 monthly non-housing baseline. State income tax is excluded until a current official reference is approved; the calculator labels that limitation instead of guessing.
| 2024 ACS population estimate | 252,583 |
| 2024 ACS median household income | $95,373 |
| 2024 ACS median gross rent | $1,586 |
| 2024 ACS median owner-occupied home value | $378,400 |
| Derived one-way commute estimate | 28 minutes |
| State-tax treatment | Excluded — official reference pending |
| Rent-to-income reference | 20% |
The trade-off
Relative strength: Median rent consumes roughly 20% of median income.. Watch closely: lower housing cost burden may come with longer commutes or fewer urban amenities..
Compare Chesapeake
Frequently asked questions
Is Chesapeake VA affordable for renters?
Based on 2024 ACS data, median gross rent is $1,586 per month, which is about 20% of the median household income of $95,373. This suggests rent is moderately affordable relative to income, though actual affordability depends on individual circumstances and non-housing costs not captured in citywide averages.
How does Chesapeake's home value compare to income?
The median owner-occupied home value is $378,400, while median household income is $95,373. This yields a home value-to-income ratio of approximately 4.0, which is within a range often considered manageable for homebuying, though mortgage rates, taxes, and insurance affect actual affordability.
Source ledger
Every production input below is retained with its publisher and dataset. The ACS figures are five-year estimates, not live listings or guarantees.
- PopulationU.S. Census Bureau · 2024 ACS 5-Year B01003
- Median household incomeU.S. Census Bureau · 2024 ACS 5-Year B19013
- Median gross rentU.S. Census Bureau · 2024 ACS 5-Year B25064
- Median owner-occupied home valueU.S. Census Bureau · 2024 ACS 5-Year B25077
- Commute-time distributionU.S. Census Bureau · 2024 ACS 5-Year B08303
Interpretation: The ACS 2024 five-year estimates generally summarize observations across 2020–2024. The commute number is a weighted midpoint estimate from table B08303. State income tax is not included in the modeled take-home result. Verify a current address, quote, commute, and tax situation before making a decision.