The median home in Chesapeake was valued at $388,600 in 2024. Home prices across the metro area have moved since, and carried forward by the FHFA index, that's about $424,000 as of 2026 Q2. Projected forward, it would be about $439,000 in 2027 and $585,000 in 2031. The first 2 years follow the metro index's change over the past year (+3.6%); later years use its 2020–2025 average (+8.7% a year).
Chesapeake home values by year
| Year | Median home value | Basis |
|---|---|---|
| 2026 Q2 (estimate) | $424,000 | ACS 2024 value × FHFA index change |
| 2027 (projected) | $439,000 | +3.6% (past year) |
| 2028 (projected) | $455,000 | +3.6% (past year) |
| 2031 (projected) | $585,000 | +8.7% (2020–2025 average) |
Median home value in Chesapeake, from the Census
| Year | Median home value |
|---|---|
| 2019 | $290,900 |
| 2023 | $380,100 |
| 2024 | $388,600 |
Read this with care
The Census value is owners' own estimate, and the FHFA index covers the whole metro area (Virginia Beach-Chesapeake-Norfolk, VA-NC), not Chesapeake alone. Moving a 2024 city median forward by a metro index is an estimate, and the projection carries two trends forward; it isn't a call on the next turn. For a specific ZIP code, use Predictye Property.
Sources: U.S. Census Bureau, American Community Survey 1-year estimates (2019, 2023, 2024) forChesapeake (Chesapeake city, Virginia); medians are shown only when their margin of error is within 10%. FHFA all-transactions house price index for Virginia Beach-Chesapeake-Norfolk, VA-NC, through 2026Q2. How Predictye calculates this.
Frequently asked questions
What will homes in Chesapeake, VA be worth in 2027?
A home at the city's median would be worth about $439,000 in 2027, starting from an estimated $424,000 in 2026 Q2. The first 2 years follow the metro index's change over the past year (+3.6%); later years use its 2020–2025 average (+8.7% a year).
What is the median home value in Chesapeake, VA?
$388,600 in 2024, from the Census Bureau's American Community Survey. It's owners' estimate of their home's value.
Are home prices in Chesapeake, VA going up or down?
Across Virginia Beach-Chesapeake-Norfolk, VA-NC, the FHFA house price index moved +3.6% over the year to 2026 Q2, and averaged +8.7% a year from 2020 to 2025.