Side-by-side comparison of Richmond, VA and Chesapeake, VA — cap rates, rent, prices, and investment metrics.
Cash flow: Richmond has the edge with an estimated cap rate of 3.66% compared to Chesapeake's 3.61%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $320,000 in Richmond vs $345,000 in Chesapeake, while rents come in at $1,480/mo and $1,580/mo respectively.
Growth & appreciation: Richmond is growing faster at 1.1% annually vs Chesapeake's 0.9%. Richmond leads on home value appreciation at 3.4% per year.
Costs & risk: Property taxes are 0.82% in Richmond vs 0.82% in Chesapeake. Vacancy rates of 4.9% and 4.8% are both healthy, suggesting strong tenant demand in both markets.
Bottom line: Richmond edges out Chesapeake on most key metrics. While cap rates are moderate at 3.66%, Richmond's overall profile is stronger. Use our free calculators to model specific deals in Richmond or Chesapeake.