How much is a home worth in ZIP code 23323?

The typical home in 23323 is worth $423,520, based on the Zillow Home Value Index.

Are home values rising in 23323?

Home values in 23323 are up 2.6% over the past year, and up 5.4% a year over five years.

What is the typical rent in 23323?

A typical home in 23323 rents for about $2,338 a month, a gross rental yield of 6.6%.

What is the property tax rate in 23323?

The effective property tax rate in 23323 is 0.8% — roughly $3,321 a year on a typical home.

ZIP code 23323 has a population of 43,043 and a median household income of $108,730.

HousingHandbookReference data

…

U.S. ZIP Code · VA23323

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

Typical home value

$423,520^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.6%
5-year / yr: +5.4%
10-year / yr: +5.1%

Relative price

vs U.S.: +49.1%
vs metro: +20.2%
vs state: +29.0%

Price history

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

The typical home in 23323 is worth $423,520 — 20.2% above the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 2.6%. Homes here rent for a typical $2,338 a month — a 6.6% 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: $2,338^[2]
Gross yield: 6.6%^[2]
Cap rate: 4.0%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $3,321^[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: 43,043^[3]
Median household income: $108,730^[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: 10
Elementary: 5
Middle: 2
High: 2

Grassfield High
High · Grades 9–12 · Chesapeake City Public Schools
2,306 students
Deep Creek High
High · Grades 9–12 · Chesapeake City Public Schools
1,638 students
Grassfield Elementary
Elementary · Grades PK–5 · Chesapeake City Public Schools
1,347 students
Hugo A. Owens Middle
Middle · Grades 6–8 · Chesapeake City Public Schools
1,307 students
Deep Creek Central Elementary
Elementary · Grades PK–5 · Chesapeake City Public Schools
884 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 yield6.6%

Net yield (after ~40% expenses)4.0%

Annual rent$28,051

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$2,142

Loan principal$338,816

Down payment$84,704

Total interest paid$432,141

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 ratio1.18

Monthly cost to own$2,770

Monthly rent$2,338

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: 40th percentile^[1]
Rental yield: 58th percentile^[2]
Property tax: 51st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23323?: The typical home in 23323 is worth $423,520, based on the Zillow Home Value Index.
Are home values rising in 23323?: Home values in 23323 are up 2.6% over the past year, and up 5.4% a year over five years.
What is the typical rent in 23323?: A typical home in 23323 rents for about $2,338 a month, a gross rental yield of 6.6%.
What is the property tax rate in 23323?: The effective property tax rate in 23323 is 0.8% — roughly $3,321 a year on a typical home.
Who lives in 23323?: ZIP code 23323 has a population of 43,043 and a median household income of $108,730.

#Comparable ZIPs

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

27916 vs 23323 →
NC
Typical home
$421,720
Gross yield
—
27966 vs 23323 →
NC
Typical home
$420,260
Gross yield
—
27976
South Mills CDP, NC
Typical home
$417,745
Gross yield
—
23314
Carrollton CDP, VA
Typical home
$415,446
Gross yield
—
27923
Coinjock CDP, NC
Typical home
$411,910
Gross yield
—
23464
Virginia Beach, VA
Typical home
$408,793
Gross yield
5.8%

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#Jump to section

U.S. ZIP Code · VA23323

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