How much is a home worth in ZIP code 23320?

The typical home in 23320 is worth $388,217, based on the Zillow Home Value Index.

Are home values rising in 23320?

Home values in 23320 are up 3.5% over the past year, and up 5.6% a year over five years.

What is the typical rent in 23320?

A typical home in 23320 rents for about $2,031 a month, a gross rental yield of 6.3%.

What is the property tax rate in 23320?

The effective property tax rate in 23320 is 0.8% — roughly $3,235 a year on a typical home.

ZIP code 23320 has a population of 59,108 and a median household income of $84,305.

HousingHandbookReference data

…

U.S. ZIP Code · VA23320

Chesapeake city · Virginia Beach-Chesapeake-Norfolk, VA-NC

Typical home value

$388,217^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.5%
5-year / yr: +5.6%
10-year / yr: +4.9%

Relative price

vs U.S.: +36.7%
vs metro: +10.2%
vs state: +18.2%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 23320 is worth $388,217 — 10.2% above the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 3.5%. Homes here rent for a typical $2,031 a month — a 6.3% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,031^[2]
Gross yield: 6.3%^[2]
Cap rate: 3.8%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $3,235^[3]

#Climate risk

FEMA National Risk Index ratings for Chesapeake city. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Moderate
Coastal flood: Relatively Moderate
Wildfire: Relatively Low
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Relatively Low

#Who lives here

Population: 59,108^[3]
Median household income: $84,305^[3]

#Migration

Household moves in and out of Chesapeake city over a year, from IRS tax-return data.

Net migration: -143^[5]
Moved in: 9,905
Moved out: 10,048

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 4
Middle: 2
High: 1

Oscar F. Smith High
High · Grades 9–12 · Chesapeake City Public Schools
2,313 students
B.M. Williams Primary
Elementary · Grades PK–2 · Chesapeake City Public Schools
834 students
Greenbrier Middle
Middle · Grades 6–8 · Chesapeake City Public Schools
790 students
Greenbrier Primary
Elementary · Grades PK–2 · Chesapeake City Public Schools
698 students
Crestwood Intermediate
Elementary · Grades 3–5 · Chesapeake City Public Schools
692 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.3%

Net yield (after ~40% expenses)3.8%

Annual rent$24,369

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,963

Loan principal$310,574

Down payment$77,643

Total interest paid$396,120

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.26

Monthly cost to own$2,555

Monthly rent$2,031

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 53rd percentile^[1]
Rental yield: 48th percentile^[2]
Property tax: 62nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23320?: The typical home in 23320 is worth $388,217, based on the Zillow Home Value Index.
Are home values rising in 23320?: Home values in 23320 are up 3.5% over the past year, and up 5.6% a year over five years.
What is the typical rent in 23320?: A typical home in 23320 rents for about $2,031 a month, a gross rental yield of 6.3%.
What is the property tax rate in 23320?: The effective property tax rate in 23320 is 0.8% — roughly $3,235 a year on a typical home.
Who lives in 23320?: ZIP code 23320 has a population of 59,108 and a median household income of $84,305.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

23452 vs 23320 →
Virginia Beach, VA
Typical home
$386,794
Gross yield
5.6%
27956 vs 23320 →
NC
Typical home
$391,973
Gross yield
—
27939
Grandy CDP, NC
Typical home
$393,093
Gross yield
—
23690
Yorktown CDP, VA
Typical home
$382,033
Gross yield
—
23508
Norfolk, VA
Typical home
$380,042
Gross yield
6.3%
27921
Camden CDP, NC
Typical home
$396,532
Gross yield
—

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#Jump to section

U.S. ZIP Code · VA23320

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