According to statistics, the population in Chesapeake, VA amounts to 235,410, which shows decline 1% compared to the previous year. The median age of the city’s residents is 37. The average household income is $72,214, shifting growth 3% from the past year, and the average property value in Chesapeake, VA growth 2% to $260,900 throughout the year.
|Number Of Employees||108,589|
|Median Property Value||$260,900|
The average household income in Chesapeake, VA grew from $69,978 to $72,214 in the past year. This data is an estimate based upon 83,031 households in Chesapeake, VA . The chart below presents how household income is distributed in Chesapeake, VA in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Chesapeake, VA shifted from $256,500 to $260,900 throughout the year. The subsequent graph indicates the share of properties in the given price range in Chesapeake, VA in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Chesapeake, VA properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Chesapeake, VA compared to median property taxes around the country. The prevalent amount of property taxes in Chesapeake, VA equals $3000, which is less than the national average.
|May||vs Last Month|
|4+ bed apartments||$514,797||-15.1%|
During May 2023, the average price for an apartment in/near Chesapeake, VA decreased by 15.6% to $424,075.
Knowing the current property prices is key if you plan to buy a studio in Chesapeake, VA. The average price for a studio has decreased since the last month, currently being $250,000. After collecting all data points, we now see that the average price for 1-bed apartment stands at $139,900 with no changes this month. Asking price for 2-bed apartment also decreased by 1.8% and a place of this size will now cost you $247,148. A 3-bed apartment goes for $344,757, it increased by 1.1% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 15.1% and made it down to $514,797.
|May||vs Last Month|
|Houses for sale||$458,338||-15.5%|
|Condos for sale||$304,898||-10.5%|
Price reports demonstrate that house price decreased by 15.5% this month making it up to $458,338. Condos faced an upward trend these days. The median price for a condo decreased by 10.5%, it’s now available for $304,898.