Chesterfield, VA—23838
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 $549,000, with a year-over-year change of 2.0%. This indicates that home prices in Chesterfield, VA are increasing. 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 | $549,000 | 2.0% |
| Single Family | $549,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $289,000 | -0.7% |
3 Bed | $399,000 | 0.5% |
4 Bed | $575,000 | 2.0% |
| 5 Bed | $715,000 | 1.3% |
% of Housing Stock
Rental Trends — Chesterfield, VA
As of July '25, Rentcast reports the average rent in Chesterfield, VA is $2,930, with a year-over-year rent change of 5.4%. Per bedroom, the median rent as of July '25 in Chesterfield, VA is 3-bedrooms: $2,200, 4-bedrooms: $3,220. The most common rental property sizes in Chesterfield, VA are 4-bedroom and 3-bedroom, accounting for 40.7% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $2,930 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,950 | $2,200 |
| 4 Bed Rent | $3,200 | $3,220 |
% 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 49. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $695,000 | 8.0% |
Listing Count | 113 | 18.0% |
| Listings as % of Homes | 1.3% | 18.0% |
Days on Market | 49 | -5.0% |
Demographics — Chesterfield, VA
As of the latest ACS Survey released in 2023, Chesterfield, VA has a population of 17,200, which has increased by 5.0% over the past 5 years. Chesterfield, VA is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 42.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,200 | 5.0% |
% Under 18 | 20.1% | -11.5% |
% Seniors | 19.2% | 25.5% |
% WFH | 13.9% | 93.1% |
% w/ College Degree | 42.7% | 0.0% |
As of the latest ACS Survey released in 2023, Chesterfield, VA is a predominantly white area, with 75.1% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Chesterfield, VA is black, making up 13.5% of the population. Foreign-born residents account for 4.4% of the population in Chesterfield, VA, and this percentage has increased by 22.2% 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 | 75.1% | -8.2% |
% Black | 13.5% | 18.4% |
% Hispanic | 4.7% | 88.0% |
% Asian | 2.7% | 125.0% |
% Foreign Born | 4.4% | 22.2% |
Mortgage and Risk — Chesterfield, VA
According to HUD data as of 2023, there were 230 mortgage originations in Chesterfield, VA, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 30.0% 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. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 230 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
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 | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 6.5% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,690 |
| 2 Bedroom | N/A | N/A | $1,890 |
| 3 Bedroom | $480 | $1,950 | $2,430 |
| 4 Bedroom | -$240 | $3,200 | $2,960 |
Affordability — Chesterfield, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $549,000 |
| Median Household Income | $130,000 |