How much is a home worth in ZIP code 23321?

The typical home in 23321 is worth $400,569, based on the Zillow Home Value Index.

Are home values rising in 23321?

Home values in 23321 are up 2.7% over the past year, and up 5.5% a year over five years.

What is the typical rent in 23321?

A typical home in 23321 rents for about $1,791 a month, a gross rental yield of 5.4%.

What is the property tax rate in 23321?

The effective property tax rate in 23321 is 0.7% — roughly $2,965 a year on a typical home.

ZIP code 23321 has a population of 40,176 and a median household income of $101,568.

HousingHandbookReference data

…

U.S. ZIP Code · VA23321

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

Typical home value

$400,569^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.7%
5-year / yr: +5.5%
10-year / yr: +5.0%

Relative price

vs U.S.: +41.0%
vs metro: +13.7%
vs state: +22.0%

Price history

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

The typical home in 23321 is worth $400,569 — 13.7% above the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 2.7%. Homes here rent for a typical $1,791 a month — a 5.4% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

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

Monthly rent: $1,791^[2]
Gross yield: 5.4%^[2]
Cap rate: 3.2%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $2,965^[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: 40,176^[3]
Median household income: $101,568^[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: 7
Elementary: 4
Middle: 2
High: 1

Western Branch High
High · Grades 9–12 · Chesapeake City Public Schools
2,116 students
Western Branch Middle
Middle · Grades 6–8 · Chesapeake City Public Schools
903 students
Western Branch Primary
Elementary · Grades PK–2 · Chesapeake City Public Schools
805 students
Western Branch Intermediate
Elementary · Grades 3–5 · Chesapeake City Public Schools
771 students
Edwin W. Chittum Elementary
Elementary · Grades PK–5 · Chesapeake City Public Schools
759 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 yield5.4%

Net yield (after ~40% expenses)3.2%

Annual rent$21,492

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$2,025

Loan principal$320,455

Down payment$80,114

Total interest paid$408,722

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 ratio1.46

Monthly cost to own$2,606

Monthly rent$1,791

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: 49th percentile^[1]
Rental yield: 13th percentile^[2]
Property tax: 42nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23321?: The typical home in 23321 is worth $400,569, based on the Zillow Home Value Index.
Are home values rising in 23321?: Home values in 23321 are up 2.7% over the past year, and up 5.5% a year over five years.
What is the typical rent in 23321?: A typical home in 23321 rents for about $1,791 a month, a gross rental yield of 5.4%.
What is the property tax rate in 23321?: The effective property tax rate in 23321 is 0.7% — roughly $2,965 a year on a typical home.
Who lives in 23321?: ZIP code 23321 has a population of 40,176 and a median household income of $101,568.

#Comparable ZIPs

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

23430 vs 23321 →
Rushmere CDP, VA
Typical home
$400,426
Gross yield
—
27973 vs 23321 →
NC
Typical home
$402,154
Gross yield
—
27921
Camden CDP, NC
Typical home
$396,532
Gross yield
—
27950
NC
Typical home
$406,931
Gross yield
—
27939
Grandy CDP, NC
Typical home
$393,093
Gross yield
—
23464
Virginia Beach, VA
Typical home
$408,793
Gross yield
5.8%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 23321 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23321

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