Chesterfield, VA—23832
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chesterfield, VA
As of Oct '25, the median home price in Chesterfield, VA is $399,000, with a year-over-year change of 0.7%. This indicates that home prices in Chesterfield, 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 | $399,000 | 0.7% |
| Single Family | $399,000 | 0.5% |
| Condos | $395,000 | 2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $295,000 | -0.3% |
3 Bed | $340,000 | 0.6% |
4 Bed | $437,000 | 0.9% |
| 5 Bed | $576,000 | 1.2% |
% of Housing Stock
Rental Trends — Chesterfield, VA
As of July '25, Rentcast reports the average rent in Chesterfield, VA is $2,540, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Chesterfield, VA is studios: $1,400, 1-bedrooms: $1,320, 3-bedrooms: $2,290, 4-bedrooms: $2,750. The most common rental property sizes in Chesterfield, VA are 3-bedroom and 4-bedroom, accounting for 41.4% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,510 | $2,540 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $1,320 | $1,320 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,300 | $2,290 |
| 4 Bed Rent | $2,700 | $2,750 |
% of Rental Stock
Property Listings — Chesterfield, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Chesterfield, VA is 48. This is a increase of 7.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $420,000 | -6.0% |
Listing Count | 228 | 19.0% |
| Listings as % of Homes | 1.3% | 19.0% |
Days on Market | 48 | 7.0% |
Demographics — Chesterfield, VA
As of the latest ACS Survey released in 2023, Chesterfield, VA has a population of 42,400, which has increased by 15.1% over the past 5 years. Chesterfield, VA is a popular place for families, as children make up 26.4% of the population. The area has a moderately educated workforce, with 40.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,400 | 15.1% |
% Under 18 | 26.4% | 8.2% |
% Seniors | 12.4% | 8.8% |
% WFH | 18.0% | 429.4% |
% w/ College Degree | 40.5% | 17.4% |
As of the latest ACS Survey released in 2023, Chesterfield, VA is a predominantly white area, with 55.2% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Chesterfield, VA is black, making up 25.4% of the population. Foreign-born residents account for 10.4% of the population in Chesterfield, VA, and this percentage has increased by 36.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 55.2% | -2.6% |
% Black | 25.4% | -1.9% |
% Hispanic | 10.1% | -2.9% |
% Asian | 4.1% | 57.7% |
% Foreign Born | 10.4% | 36.8% |
Mortgage and Risk — Chesterfield, VA
According to HUD data as of 2023, there were 678 mortgage originations in Chesterfield, VA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Chesterfield, VA. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 678 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Chesterfield, VA
Chesterfield, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 59 |
Total Units Section 8 | 46 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $680 | $1,320 | $2,000 |
| 2 Bedroom | N/A | N/A | $2,210 |
| 3 Bedroom | $500 | $2,300 | $2,800 |
| 4 Bedroom | $760 | $2,700 | $3,460 |
Affordability — Chesterfield, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $399,000 |
| Median Household Income | $104,000 |