Real Estate Investing in Chesapeake, Virginia (23322)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23322 (Chesapeake, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Chesapeake, VA (23322)?
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Market Analysis: 23322 Chesapeake
Not every below-median market is a bargain. Chesapeake's 23322 ZIP reflects signals that favor experienced operators who can absorb the risk $558K pricing implies.
For an experienced owner, 23322 can be a a credible choice for hunting ground — but the discount at $558K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 23322 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 23322 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 23322 is an operator game, not a passive one. Turning to rents, entry prices of $558K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Chesapeake:
Property Strategy for 23322
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $292,181 | $2,290 | 5.6% | +7.6% | $146,090 |
| 3BR | $423,887 | $3,180 | 5.4% | +6.6% | $141,296 |
| 4BR | $545,866 | $3,740 | 4.9% | +7.0% | $136,466 |
| 5BR | $711,293 | — | — | +7.1% | $142,259 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23322 Compare?
| Metric | 23322 | Chesapeake | Virginia |
|---|---|---|---|
| Home Value | $558,112 | $402,271 | $403,170 |
| 5-Year CAGR | 5.5% | 5.5% | 6.4% |
| Avg Rent | $2,677 | $2,143 | - |
| Cap Rate | 3.7% | 4.3% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23322 (Chesapeake, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $558,112 |
| Monthly Rent | $2,677 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 Rent Trends
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +5.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 23322
Population: 66,079
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 23322
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How much is rent in Chesapeake, VA?
Chesapeake, VA rentals go for roughly $2,677/mo a month. That puts gross yield in solid territory relative to $558K acquisition costs.
What is the average home sale price in Chesapeake, VA?
Expect median prices around $558K in Chesapeake, VA. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
Do landlords face vacancy issues in Chesapeake, VA?
Rental vacancy in Chesapeake, VA is elevated. Investors should budget normal turnover but not chronic empty units.
Is Chesapeake, VA a good market for FHA house hackers?
Chesapeake, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $558K price point reasonable to enter.
How does Chesapeake, VA stack up for property investment?
Chesapeake, VA comes in at an investability rating of 3.0/5, with median home values near $558K and average rents around $2,677/mo. That combination puts it in the notable tier for investor interest.
You know 23322 now. You don’t know where it ranks.
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How 23322 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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