Chesapeake city, Virginia: commercial real estate data.
Chesapeake city, Virginia had an estimated 254,997 residents on July 1, 2024, up 2.3 percent since the 2020 census base of 249,302, across 341 square miles. County output reached $15.25 bn in 2024, 5,867 establishments operate here, and the SBA record carries 198 7(a) approvals worth $95.1 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Chesapeake city
How many people live in Chesapeake city
- Population, American Community Survey 2020-2024252,583
- Households93,626
- Average household size2.70
- Median household income$95,373
- Median age37.9
- Median gross rent$1,586 per month
- Median owner-occupied home value$378,400
- Home value to household income4.0 times
- Annual rent as a share of median income20.0 percent
- Adults 25 and over with a bachelor degree or higher36.9 percent
- Adults 25 and over with a graduate degree14.4 percent
- Adults 25 and over171,369
- Population under 1861,025
- Share under 1824.2 percent
- Population 65 and over36,797
- Share 65 and over14.6 percent
- Working age population, 18 to 64154,761
- Civilian labor force124,823
- Unemployment rate4.9 percent
- Labor force participation, adults 18 and over65.2 percent
- Rank by population among Virginia independent cities7th of 133
- Rank by population among US county-equivalents, Puerto Rico included285th of 3,222
Chesapeake city is the 7th largest of 133 Virginia independent cities by population. A median home costs 4.0 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 24.2 percent against 14.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Chesapeake city
Is Chesapeake city's population growing?
- Population, July 1, 2024254,997
- Census 2020 base population249,302
- Population change since the 2020 census base2.28 percent
- Population change, 2023 to 20241,030
- Births, 20242,856
- Deaths, 20241,986
- Natural change, 2024870
- Net domestic migration, 2024-447
- Net international migration, 2024601
- Total net migration, 2024154
- Cumulative net domestic migration, 2021 to 2024552
- Rank by growth among US county-equivalents1082nd of 3,144
The county has grown 2.28 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Chesapeake city
Where are people moving to Chesapeake city from?
- Tax returns filed by households arriving10,434
- People arriving, from those returns20,332
- Tax returns filed by households leaving10,178
- Net household movement256
- Adjusted gross income arriving$668.6 m
- Net adjusted gross income movement$14.1 m
- Average income of an arriving household$64,080
- Average income of a leaving household$64,310
- Largest single originVirginia Beach city (2,553 households)
- Largest single destinationVirginia Beach city (1,943 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Virginia Beach city | 2,553 | 4,932 | $170.9 m |
| Norfolk city | 1,293 | 2,410 | $60.3 m |
| Portsmouth city | 880 | 1,701 | $40.6 m |
| Suffolk city | 450 | 853 | $29.3 m |
| Foreign - APO/FPO ZIPs | 215 | 537 | $15.5 m |
| Hampton city | 204 | 356 | $9.9 m |
| San Diego County | 196 | 503 | $14.5 m |
| Newport News city | 162 | 278 | $7.7 m |
Households arriving report $230 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Virginia Beach city, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Chesapeake city
What is the Chesapeake city economy?
- County GDP, 2024$15.25 bn
- County GDP, 2023$14.53 bn
- GDP change, 2023 to 20244.9 percent
- GDP change over five years33.1 percent
- Rank by GDP among the Virginia areas BEA publishes13th of 105
- Rank by GDP among the US county areas BEA publishes325th of 3,127
- GDP per resident$60,363
Output grew 4.9 percent in the latest year and 33.1 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Chesapeake city
Employment by industry in Chesapeake city
- Covered employment, annual average104,662
- Establishments reporting6,889
- Average annual pay$58,825
- Average weekly wage$1,131
- Retail trade, employment13,111
- Retail trade, average annual pay$38,074
- Health care and social assistance, employment10,620
- Health care and social assistance, average annual pay$57,452
- Accommodation and food services, employment9,958
- Accommodation and food services, average annual pay$23,468
- Construction, employment9,564
- Construction, average annual pay$77,126
- Professional, scientific and technical services, employment7,582
- Administrative and support and waste management services, employment6,903
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 13,111 | 669 | $38,074 |
| Health care and social assistance | 10,620 | 1,360 | $57,452 |
| Accommodation and food services | 9,958 | 530 | $23,468 |
| Construction | 9,564 | 727 | $77,126 |
| Professional, scientific and technical services | 7,582 | 663 | $87,779 |
| Administrative and support and waste management services | 6,903 | 397 | $46,394 |
| Transportation and warehousing | 6,154 | 256 | $52,538 |
| Manufacturing | 5,424 | 182 | $73,744 |
Retail trade is the largest private sector at 13,111 jobs, 12.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Chesapeake city
How many businesses are in Chesapeake city?
- Establishments, all industries5,867
- Employment at those establishments100,552
- Annual payroll$5.55 bn
- Establishments per 1,000 residents23.2
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Chesapeake city
Building permits in Chesapeake city
- Housing units authorized by permit, 2024597
- Declared construction value permitted$274.7 m
- Single family units authorized597
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$460,073
- Units authorized per 1,000 households6.4
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Chesapeake city
SBA loans in Chesapeake city (7(a) and 504)
- 7(a) approvals recorded198
- 7(a) gross approval dollars$95.1 m
- Average 7(a) approval$480,163
- Median 7(a) approval$158,200
- 10th percentile approval$25,000
- 90th percentile approval$1,201,580
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)2,794
- Jobs per approval14.1
- Distinct 7(a) lenders active51
- Distinct industries receiving approvals104
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer6.6 percent
- Loans on real estate terms13
- Loans on working capital terms, 120 months or shorter166
- Franchise loans51
- Franchise share of approvals25.8 percent
- 504 approvals recorded126
- 504 gross approval dollars$85.4 m
- Average 504 approval$677,635
- Median 504 approval$448,500
- Distinct CDCs active2
- 504 jobs per approval9.5
- 504 jobs per million dollars approved13.9
- Most active CDC504 Capital Corporation (97)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$180.5 m
The average approval of $480,163 sits well above the median of $158,200, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 6.6 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Chesapeake city
SBA loan default and charge-off rates in Chesapeake city
Do SBA loans in Chesapeake city get paid back?
- Loans with a final outcome recorded26
- Paid in full23
- Charged off3
- Status: Exempt from disclosure132
- Status: Charged off3
- Status: Cancelled31
- Status: Paid in full23
- Status: Committed, not yet disbursed9
Only 26 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Chesapeake city
SBA lending by place in Chesapeake city
- Borrower cities with recorded lending2
- Chesapeake, approvals196
- Virginia Beach, approvals2
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Chesapeake | 196 | $94,111,700 |
| Virginia Beach | 2 | $960,500 |
Chesapeake accounts for 196 approvals against 2 in Virginia Beach. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Chesapeake city
How large is Chesapeake city?
- Land area341 sq mi
- Rank by land area among Virginia independent cities57th of 133
- Width, east to west23.5 mi
- Height, north to south21.8 mi
- Geographies sharing a boundary6
- Residents per square mile of land741
- Establishments per square mile17.21
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Chesapeake city
Flood risk in Chesapeake city
- Participation of the county's own NFIP community Chesapeake, city ofParticipating, community 510034
- Community Rating System class of the county's own communityClass 7
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class1
- Radon levels in Chesapeake city, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, the City of Chesapeake (community 510034), participates in the National Flood Insurance Program and carries Community Rating System class 7, a flood insurance premium discount for policies written there. The EPA places Chesapeake city in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Chesapeake city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Chesapeake city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024252,583
- Households93,626
- Average household size2.70
- Median household income$95,373
- Median age37.9
Common questions
Chesapeake city questions, answered from the record.
How many people live in Chesapeake city, Virginia?
The Census Bureau estimates 254,997 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 252,583, in 93,626 households, ranking 7th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Chesapeake city's population growing?
The population has grown 2.28 percent since the 2020 census base of 249,302, to 254,997 on July 1, 2024. In 2024 there were 2,856 births against 1,986 deaths, with net migration of 154. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Chesapeake city?
$95,373. The median owner-occupied home is valued at $378,400, which is 4.0 times income, and median gross rent is $1,586 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Chesapeake city?
5,867 establishments, employing 100,552 people with an annual payroll of $5.55 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Chesapeake city?
Retail trade is the largest private sector at 13,111 jobs, 12.5 percent of covered employment. Covered employment averages 104,662 jobs at an average annual pay of $58,825, or $1,131 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Chesapeake city?
198 7(a) approvals totaling $95.1 m since FY2020, across 51 lenders, with a median approval of $158,200, plus 126 504 approvals worth $85.4 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Chesapeake city?
597 housing units were authorized by permit in 2024, with a declared construction value of $274.7 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Chesapeake city?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Chesapeake city come from?
The largest single origin is Virginia Beach city, with 2,553 households. Arriving households report an average income of $64,080 against $64,310 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Chesapeake city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Chesapeake city?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.