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Rental Insights for ZIP Code 23320 (Chesapeake, VA)

Housing Rentals in ZIP Code 23320 (Chesapeake, VA)

23320 ZIP Code in Virginia

A Detailed Snapshot of Renters in the ZIP Code 23320

The 23320 ZIP Code is predominantly located in Chesapeake, VA in Chesapeake (city) County. The estimated median housing rent in this Virginia region is $1,370 per month. Approximately 38.9% of housing units in the region are renter-occupied, and this this Chesapeake (city) County ZIP Code has an estimated rental vacancy rate of 7.8%.

The median rent in ZIP Code 23320 of $1,370 per month is 11% higher than the aggregate Virginia median monthly rent of $1,234, and is 29% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 46.4% of residents in ZIP Code 23320 pay between $1,000 and $1,499 per month for rent. That is 54% higher than in Virginia overall, in which 30.1% of total state residents pay between $1,000 and $1,499 per month for housing. Only 0.2% of ZIP Code 23320 renters pay $3,000 or more for monthly rent.

ZIP Code 23320 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 23320

See the chart below for a comparison of monthly rental costs in ZIP Code 23320, Virginia, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 23320 along with those in the state of Virginia and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 23320

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 23320 Virginia U.S.
Less than $500 3.2% 7.5% 9.4%
$500 to $999 13.8% 27.1% 36.2%
$1,000 to $1,499 46.4% 30.1% 30.0%
$1,500 to $1,999 28.8% 20.2% 14.0%
$2,000 to $2,499 7.1% 8.8% 5.6%
$2,500 to $2,999 0.5% 3.5% 2.4%
$3,000 or more 0.2% 2.8% 2.4%

Rent Cost vs. Income in ZIP Code 23320

Renters in ZIP Code 23320 use an estimated 30.59% of their income to cover their monthly rent payments. That is about 4% higher than in Virginia overall. The estimate for Virginia overall is 29.45% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 23320 renters use about 3% more of their income to cover rent expense. Household income figures for ZIP Code 23320 come in lower than in Virginia as a whole. The median annual household income in ZIP Code 23320 of $73,192 sits approximately 1% lower than the overall Virginia median income of $74,222 and approximately 16% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 23320

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 23320, Virginia, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 23320 along with the same calculations in the state of Virginia and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 23320

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 23320 Virginia U.S.
Less than 15.0 percent 9.8% 12.7% 13.1%
15.0 to 19.9 percent 11.3% 13.7% 12.9%
20.0 to 24.9 percent 13.1% 14.0% 12.9%
25.0 to 29.9 percent 13.6% 11.8% 11.6%
30.0 to 34.9 percent 12.8% 9.3% 9.1%
35.0 percent or more 39.5% 38.5% 40.5%

Household Income in ZIP Code 23320

See the table below for the regional comparison of annual household income in ZIP Code 23320.

Income ZIP 23320 Virginia U.S.
Less than $10,000 3.7% 5.1% 6.0%
$10,000 to $14,999 2.7% 3.4% 4.3%
$15,000 to $24,999 7.1% 7.2% 8.9%
$25,000 to $34,999 6.1% 7.4% 8.9%
$35,000 to $49,999 12.7% 11.0% 12.3%
$50,000 to $74,999 19.5% 16.4% 17.2%
$75,000 to $99,999 15.4% 13.0% 12.7%
$100,000 to $149,999 18.4% 17.0% 15.1%
$150,000 to $199,999 7.9% 8.7% 6.8%
$200,000 or more 6.6% 10.9% 7.7%

Household Income in ZIP Code 23320

See the chart below for a comparison of annual household income figures in ZIP Code 23320, Virginia, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 23320 alongside the same figures for the state of Virginia and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 23320

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 23320.

ZIP 23320 Virginia U.S.
Median Housing Rent $1,370 $1,234 $1,062
Renter-Occupied Housing Units 38.9% 33.7% 36.0%
Rental Vacancy Rate 7.8% 5.4% 6.0%
Average Size of Renter-Occupied Unit 2.31 2.48 2.49
Average # of Bedrooms Per Unit 2.84 2.97 2.75
Percent of Income Spent on Rent 30.59% 29.45% 29.83%
Per Capita Income $38,033 $39,278 $34,103
Median Household Income $91,629 $101,746 $88,607
Living Below the Poverty Line 5.2% 7.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 23320

In ZIP Code 23320 (Chesapeake, VA), and estimated 38.9% of housing units are occupied by renters. This region has an approximate rental vacany rate of 7.8%.

The per capita income in 23320 is estimated at $38,033, which goes along with an estimated median household income of $91,629. About 5.2% of residents in this Chesapeake (city) County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.31 occupants, while the units have an aggregate average size of 2.84 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 30.59% of their income on housing rental costs.

Rental FAQs for ZIP Code 23320

1

What is the median monthly rent in ZIP Code 23320?

Median rent for housing in ZIP Code 23320 in Chesapeake (city) County in Virginia is approximately $1,370 per month.
2

Is it expensive to rent in ZIP Code 23320?

Rent in ZIP Code 23320 is higher than average in the state of Virginia overall. The median monthly rent of $1,370 in ZIP Code 23320 is approximately 11% higher than the Virginia median of $1,234. Additionally, median rent in this Chesapeake, VA region ($1,370) is about 29% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 23320?

High-priced rentals are less common in ZIP Code 23320 than in Virginia overall. The percentage of rentals in ZIP Code 23320 that cost $3,000 or more per month (0.2%) is about 93% lower than the Virginia rate of 2.8% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 92% higher than the aforementioned 23320 rate of 0.2%.
4

Are affordable rentals common in ZIP Code 23320?

Affordable rentals are less common in ZIP Code 23320 than in Virginia overall. The percentage of housing rentals in ZIP Code 23320 costing $999 or less per month (17%) is approximately 51% lower than the Virginia rate of 34.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 63% higher than the previously mentioned 23320 rate of 17%.
5

What is the most common cost range that rentals fall into in ZIP Code 23320?

The most common range for rental cost in ZIP Code 23320 is between $1,000 and $1,499 per month. About 46.4% of renters in 23320 pay in this range for monthly rent. In comparison, approximately 30.1% of renters in the state of Virginia fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 23320 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 23320 is higher than the rental vacancy rate in the state of Virginia overall. Rental vacancy of 7.8% in ZIP Code 23320 is about 44% higher than the Virginia rate of 5.4%. Looking more broadly, rental vacancy in this Chesapeake, VA region (7.8%) is an estimated 30% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 23320? How does it compare to other Virginia regions?

Median household income in ZIP Code 23320 is lower than in the state of Virginia overall. Annual household income of $73,192 in ZIP Code 23320 is about 1% lower than the Virginia median of $74,222. Additionally, median household income in this Chesapeake, VA region ($73,192) is approximately 16% higher than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 23320 spend on housing costs?

Renters in ZIP Code 23320 spend a higher amount of their income on rent costs than do renters in Virginia overall. Renters in ZIP Code 23320 spend an estimated 30.59% of their income on rent payments, which is about 4% higher than the overall Virginia estimated rate of 29.45%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 3% lower than the ZIP Code 23320 estimated rate of 30.59%.
9

Do renters in ZIP Code 23320 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 23320 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 23320 spending 30 percent or more of their income on rent costs (52.3%) is approximately 9% higher than the Virginia rate of 47.8% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 5% lower than the aforementioned 23320 rate of 52.3%.
10

What is the average household size of renter-occupied units in ZIP Code 23320?

The average household size of renter-occupied units in ZIP Code 23320 is lower than in the state of Virginia overall. Annual household size of 2.31 in ZIP Code 23320 is about 7% lower than the Virginia median of 2.48. Additionally, median household size in this Chesapeake, VA region (2.31) is approximately 7% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Virginia ZIP Codes