Commercial Real Estate Market in Chesapeake, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
281 active listings and 4,236 off-market properties in Chesapeake, VA.
Market Trends
Chesapeake, VA spans 338.5 square miles in Chesapeake County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Chesapeake, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Chesapeake, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Chesapeake, VA runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Chesapeake, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 46.3%
- Open space 23.8%
- Residential 18.4%
- Industrial 4.7%
- Planned_development 4.2%
- Commercial 1.5%
- Civic 1%
- Mixed use 0%
Largest Zones share of zoned land by district
Agricultural District
Conservation District
Residential District
Planned Unit Development
Residential District
Agricultural District (A-1)
This district is created primarily for the protection of the agricultural industry and rural sections of the city from the invasion of urban and suburban uses and to preserve the agriculture and forest lands required for the health, safety and welfare of the community.
Market overview
Demographics & Economy
Chesapeake, VA has 249,734 residents in 96,111 households. Density runs 738 people per square mile. Median household income here is $99,368 and median gross rent $1,603 a month.
249,734
Population
96,111
Households
2.6
Avg Household Size
38
Median Age
36%
College-Educated
93%
High-School Grad
338.5 sq mi
ZIP Area
738
Density / Sq Mi
$99,368
Median Household Income
$49,891
Median Earnings
$1,603
Median Rent
$355,409
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Norfolk | — | $20.60 |
| Portsmouth | — | $21.98 |
| Fleet | — | — |
| Virginia Beach | — | $22.16 |
Frequently Asked Questions
Where does Realmo's Chesapeake market data come from?
Realmo compiles Chesapeake, VA figures from 8 recent recorded sales, 157 active sale listings, 124 active lease listings, 4,236 tracked off-market properties, the current Chesapeake zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 157 active for-sale and 124 active for-lease listings in Chesapeake, VA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 224,847 zoned acres across 34 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
