The story of this market
The typical home in ZIP 23324 sells for about $286,000, or $185 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $1,158 a month.
ZIP 23324 — Chesapeake
The 23324 housing market remains stable with a focus on entry-level and mid-range single-family homes. Prices have seen modest year-over-year growth, driven by demand from local shipyard workers and commuters, though the area's older housing stock and flood risk profile keep price appreciation more conservative than in newer Chesapeake ZIPs.
This ZIP is well-suited for first-time homebuyers, investors seeking value-add opportunities, and commuters who prioritize proximity to Norfolk employment centers over suburban amenities.
Median prices moved up 2.1% year over year.
Homes spend a median of 32 days on market with 2.7 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.2% · poverty 25.0% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 23324, Chesapeake city, Virginia
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the South Norfolk area (23324) are generally higher than the Chesapeake city average, reflecting its urbanized, historic character compared to the suburban expansion areas of the city.
Schools serving this ZIP are part of Chesapeake Public Schools, with performance varying significantly by specific school site; many local schools face challenges related to the socioeconomic profile of the immediate area.
The area is subject to flood risks due to its proximity to the Elizabeth River and low-lying topography, necessitating flood insurance for many properties.
Economic momentum is driven by proximity to the Norfolk shipyards and regional logistics hubs, though new residential development is limited by the area's mature, built-out status.
Property taxes are assessed by the City of Chesapeake; the area does not have unique special districts beyond standard municipal and school district levies.
Residents benefit from direct access to I-464 and I-64, providing relatively short commute times to downtown Norfolk and the Portsmouth shipyard employment centers.
The area features access to the South Norfolk Jordan Bridge and local community parks, with proximity to the shopping and dining districts of South Norfolk.
The rental market is characterized by older, smaller single-family homes and multi-family units with steady demand from shipyard workers and commuters.
The economy is heavily influenced by the maritime, logistics, and defense sectors, with many residents employed at the nearby Norfolk Naval Shipyard and regional port facilities.
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Development is primarily focused on infill projects and the rehabilitation of existing housing stock rather than large-scale greenfield expansion.
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Parcels are subject to the Chesapeake City tax rate and the Chesapeake Public Schools district.
Insurance premiums are influenced by the area's flood zone designations and proximity to coastal storm surge paths.
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Data retrieved from CensusEasy and ACS 2024 ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Apex Entertainment Virginia Beach4.58.2 mi
- Dave & Buster's4.111.4 mi
- Hunt Club Farm4.614.2 mi
- Sky Zone Trampoline Park4.22.8 mi
- Hampton Virginia Aquaplex4.117.4 mi
- Virginia Aquarium & Marine Science Center4.416.3 mi
- Hampton Coliseum4.417.1 mi
- Virginia Beach Convention Center4.516.3 mi
- Veterans United Home Loans Amphitheater at Virginia Beach4.49.8 mi
- Topgolf Virginia Beach4.46.3 mi
- Virginia Zoo4.55.1 mi
- Norfolk Botanical Garden4.88.1 mi
- Mount Trashmore Park4.78.6 mi
- Apex Entertainment Virginia Beach4.58.2 mi
- AMC Lynnhaven 18411.3 mi
- Virginia Aquarium & Marine Science Center4.416.3 mi
- Chrysler Museum of Art4.83.8 mi
- Nauticus4.73.3 mi
- Cape Henry Lighthouse4.417.1 mi
- USS Wisconsin BB-644.83.3 mi
- Norfolk Botanical Garden4.88.1 mi
- Mount Trashmore Park4.78.6 mi
- Oak Grove Park4.73.4 mi
- Chesapeake City Park4.74.4 mi
- Ocean View Beach Park4.510.6 mi
- VIG Portsmouth3.46.6 mi
- Cavalier Golf & Yacht Club4.715.7 mi
- Hampton Yacht Club4.615.5 mi
- Tidewater Yacht Marina4.72.9 mi
- Bay Point Marina4.59.9 mi
- Topgolf Virginia Beach4.46.3 mi
- Virginia Beach National Golf Club4.511.5 mi
- Sewells Point Golf Course4.38.3 mi
- Greenbrier Country Club4.54.2 mi
- Riverfront Golf Club4.410.7 mi
- Lynnhaven Mall4.411.4 mi
- Norfolk Premium Outlets4.46.9 mi
- Greenbrier Mall4.13.2 mi
- Navy Exchange Main4.59.9 mi
- Grand Mart4.47 mi
- Norfolk International Airport4.37.6 mi
- Naval Air Station Oceana4.314 mi
- Newport News/Williamsburg International Airport4.425.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major landmark connecting Chesapeake to Portsmouth.
Local community green space serving the South Norfolk neighborhood.
Features historic architecture and local dining options.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.