Zip Code 23322

Chesapeake, VA • Chesapeake City County

Real Estate Market Analysis

Q3 2025 Report

$615,000 (Feb 2025, +6% YoY)

Median Home Value

Not specified for 23322; Chesapeake city: ~250,000 (2024)

Population

Above city average; Chesapeake city median household income ~$85,000 (2024)

Median Income

Highly rated; above state average

School District Rating

Market Statistics

Property Values

$615,000 (Feb 2025, +6% YoY)

Median Home Value

Data not specified for 23322; Chesapeake city-wide average rent is typically $1,600–$2,000/month

Median Rent

$205 (Chesapeake city average, 2024)

Price per Sq Ft

Market Performance

Home Appreciation+6.2% (Feb 2025, Zillow)

Market VelocityHomes go pending in 19–37 days (2025)

Foreclosure RateNot specified for 23322; generally low in Chesapeake

Area Information

Area SizeLarge suburban area

CountyChesapeake City

Primary CityChesapeake

Housing Profile

Housing Statistics

Total Housing UnitsNot specified for 23322; Chesapeake has a large, diverse housing stock

Owner OccupiedMajority (23322 is known for high owner-occupancy rates)

Rental PropertiesLower proportion than city average; 23322 is primarily owner-occupied

Vacant UnitsNot specified

New ConstructionActive, with ongoing new builds and subdivisions

Housing Types

Single-family homesTownhomesSome condos

Demographics

Not specified for 23322; Chesapeake city: ~250,000 (2024)

Population

Higher than city average (family-oriented suburb)

Median Age

Above city average; Chesapeake city median household income ~$85,000 (2024)

Median Income

High; low unemployment relative to region

Employment Rate

High; large proportion with college degrees

Education Levels

Predominantly families, many with children

Family Composition

Education Quality

School District Performance

Highly rated; above state average

District Rating

School DistrictChesapeake Public Schools

Test ScoresAbove state average (specific schools in 23322 often score 8–9/10)

Graduation RatesHigh (typically 90%+)

Schools in Area

Great Bridge High School
Hickory High School
Great Bridge Middle
Hickory Middle
Multiple elementary schools

Economic Factors

Employment & Business

Job GrowthSteady, positive trend (2024–2025)

Unemployment RateLow (below state average)

Business EnvironmentStrong; mix of local businesses and national employers

Commercial ActivityGrowing, especially retail and logistics

Major Employers

City of Chesapeake
Chesapeake Public Schools
Sentara Healthcare
Amazon
Defense contractors

Infrastructure & Quality of Life

Infrastructure

Transportation Access

• Interstate 64
• US Route 17
• Public bus service

Utilities & Services

• City water/sewer
• Electricity (Dominion Energy)
• Natural gas

Quality of Life

Safety & Environment

Low crime rate, especially violent crime

Good; suburban, green, well-maintained

Healthcare Access

• Sentara Healthcare facilities
• Urgent care clinics
• Specialty practices

Development Trends

Planned Developments

New subdivisions
Mixed-use centers

Infrastructure Projects

• Road widening
• School expansions

Investment Outlook

Growth Outlook

Positive, steady demand for housing

Investment Opportunities

• New construction
• Luxury homes
• Family rentals

Marketing Intelligence

Target Demographics

Move-up buyers
Families with children
Military/relocators
High-income professionals

Competitive Advantages

Top schools
Low crime
Modern housing stock

Pricing Strategies

Position at upper-median price point; leverage recent appreciation

Common Objections & Response Strategies

Objection: High home prices compared to city average

Response Strategy:

Emphasize value: top schools, safety, amenities, and appreciation potential

Objection: Limited affordable inventory

Response Strategy:

Showcase smaller homes, townhomes, and new builds with incentives

Objection: Commute times to Norfolk/Virginia Beach

Response Strategy:

Highlight access to major highways and ongoing infrastructure improvements

Professional Recommendations

Emphasize school quality and family amenities in marketing

Target move-up buyers and relocators with tailored campaigns

Leverage new construction and builder incentives

Educate buyers on market velocity and need for quick decisions

Highlight long-term appreciation and stability for investors

Competitive Analysis

Comparable Markets

23464 (Chesapeake)
23456 (Virginia Beach)
23320 (Chesapeake)

Market Positioning

Premium suburban family market

Competitive Advantages

Higher-rated schools
Lower crime
Newer housing stock

Price Comparison

23322 median home prices are 20–30% higher than city average

Investment Metrics

Typically 4–5% for single-family rentals (2024–2025)

Cap Rates

Moderate; higher for townhomes and smaller homes

Rental Yields

Higher than city average (reflects premium market)

Price-to-Rent

Best for long-term appreciation, less for immediate cash flow

Cash Flow

+5–7% annually (2025 outlook)

Appreciation

Buyer Journey Insights

First-Time Buyers

Challenging due to high prices; focus on smaller homes and townhomes

Move-Up Buyers

Strong market; many options for larger, newer homes

Downsizers

Limited inventory; some newer townhomes and condos available

Investors

Best for long-term appreciation and executive rentals

Relocators

Popular due to schools, safety, and amenities

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

Related Market Intelligence

Explore connected markets and opportunities

Nearby Areas

Great Bridge in Chesapeake, VA

neighborhood

2 miles away

$350,000

Hickory in Chesapeake, VA

neighborhood

2 miles away

$360,000

Similar Markets

Deep Creek in Chesapeake, VA

neighborhood

Similar market (81% price match)

$325,000

Western Branch in Chesapeake, VA

neighborhood

Similar market (90% price match)

$360,000