Chester, VA—23831
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Chester, VA
Home Price Trends — Chester, VA
As of Oct '25, the median home price in Chester, VA is $371,000, with a year-over-year change of 0.9%. This indicates that home prices in Chester, VA are flat. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $371,000 | 0.9% |
| Single Family | $372,000 | 0.8% |
| Condos | $364,000 | 2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $312,000 | 1.3% |
3 Bed | $333,000 | 1.2% |
4 Bed | $404,000 | 1.0% |
| 5 Bed | $463,000 | 1.3% |
% of Housing Stock
Rental Trends — Chester, VA
As of July '25, Rentcast reports the average rent in Chester, VA is $2,240, with a year-over-year rent change of -8.6%. Per bedroom, the median rent as of July '25 in Chester, VA is 1-bedrooms: $1,510, 2-bedrooms: $1,550, 3-bedrooms: $2,300, 4-bedrooms: $2,720. The most common rental property sizes in Chester, VA are 2-bedroom and 3-bedroom, accounting for 39.8% and 38.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,240 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,560 | $1,510 |
| 2 Bed Rent | $1,380 | $1,550 |
| 3 Bed Rent | $2,200 | $2,300 |
| 4 Bed Rent | $2,800 | $2,720 |
% of Rental Stock
Property Listings — Chester, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Chester, VA is 49. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $400,000 | -8.0% |
Listing Count | 128 | 1.0% |
| Listings as % of Homes | 0.8% | 1.0% |
Days on Market | 49 | 9.0% |
Demographics — Chester, VA
As of the latest ACS Survey released in 2023, Chester, VA has a population of 37,800, which has increased by 2.9% over the past 5 years. Chester, VA is a moderately popular place for families, as children make up 22.1% of the population. The area has a moderately educated workforce, with 36.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,800 | 2.9% |
% Under 18 | 22.1% | -10.5% |
% Seniors | 15.9% | 15.2% |
% WFH | 16.7% | 307.3% |
% w/ College Degree | 36.7% | 7.3% |
As of the latest ACS Survey released in 2023, Chester, VA is a predominantly white area, with 52.9% of the population identifying as white. The white population has shrunk by 17.2% in the last 5 years. The second most common race or ethnicity in Chester, VA is black, making up 30.2% of the population. Foreign-born residents account for 6.8% of the population in Chester, VA, and this percentage has decreased by 5.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 52.9% | -17.2% |
% Black | 30.2% | 28.0% |
% Hispanic | 10.0% | 23.5% |
% Asian | 2.9% | 52.6% |
% Foreign Born | 6.8% | -5.6% |
Mortgage and Risk — Chester, VA
According to HUD data as of 2023, there were 680 mortgage originations in Chester, VA, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Chester, VA. Investor activity is low, as 1.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 680 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Chester, VA
As of 2024, the percent of homes in Chester, VA under the Section 8 program is 7.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Chester, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 296 |
Total Units Section 8 | 293 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,560 | $1,730 |
| 2 Bedroom | $530 | $1,380 | $1,910 |
| 3 Bedroom | $220 | $2,200 | $2,420 |
| 4 Bedroom | $190 | $2,800 | $2,990 |
Affordability — Chester, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $371,000 |
| Median Household Income | $92,100 |