Virginia · Population 251,153 · Updated March 2026
How far your income goes in Chesapeake
State-level tax rates that affect your costs
Chesapeake is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 112 (where 100 equals the national median), Chesapeake residents can expect to pay median rent of $1,523/month while earning a median household income of $94,189/year.
The median home value in Chesapeake, VA is $359,100, with typical monthly owner costs around $1,680 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Virginia has a moderate income tax rate of 5.75%. Combined with a 5.3% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Chesapeake.
Common questions about living costs in Chesapeake
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