Market Overview
Home Prices in Chesapeake, VA
The median home value in Chesapeake, VA is $429,006 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.4% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Chesapeake are priced5% above average. Chesapeake is part of the Virginia Beach-Norfolk-Newport News, VA-NC metro area.
Over the past five years, Chesapeake home values have risen by approximately28.3%, reflecting strong long-term appreciation in this market.
Price History
Chesapeake Home Price Trend
City Comparison
Chesapeake vs. National Median
At $429,006, homes in Chesapeake cost 5% above the national median of $410,000. Buyers in Chesapeake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Chesapeake?
20% Down Payment
$85,801
on $429,006
Monthly P&I
$2,237/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,841/mo
incl. taxes & insurance
Income Needed
$113,640
gross annual (30% rule)
10% Down Option
$42,901
+ PMI applies
Loan Amount (20% dn)
$343,205
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Chesapeake, VA?
The median home value in Chesapeake is $429,006 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.4% year-over-year.
How much have home prices changed in Chesapeake?
Over the past year, home values in Chesapeake have increased by 3.4%. Over five years, prices have risen approximately 28.3%.
How much do I need to earn to buy a home in Chesapeake?
To comfortably afford the median home price of $429,006 with a 20% down payment ($85,801) at today's rates (6.8%), you'd need a gross annual income of approximately $113,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Chesapeake compare to the national average home price?
The national median home value is approximately $410,000. At $429,006, homes in Chesapeake are 5% above the national average.
What metro area is Chesapeake part of?
Chesapeake is part of the Virginia Beach-Norfolk-Newport News, VA-NC metropolitan area. Home prices and market conditions can vary across the broader metro region.