Chesapeake, Virginia Income Statistics
Chesapeake Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Chesapeake Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Chesapeake | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $95,849 | $93,527 | $80,455 |
| Median Personal Income | $66,564 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.0% | 4.3% | 4.8% |
| Six-Figure Earners | 16.6% | 18.3% | 13.9% |
| $200k+ Households | 15.3% | 17.7% | 13.2% |
The median household income in Chesapeake is about 2% higher than in Virginia. Income has been growing slower in Chesapeake (4.0%/yr) than in Virginia (4.3%/yr).
About 17% of adults in Chesapeake earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Chesapeake, Virginia grew by 42.2% from 2009 to 2024, reaching $95,849 in 2024. That's an average of about 4.0% per year.
Income Inequality and the Gender Pay Gap in Chesapeake
| Metric | Chesapeake | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.544 | 0.552 |
| Male Median Income | $79,963 | $78,585 | $69,667 |
| Female Median Income | $60,122 | $62,626 | $56,850 |
| Gender Pay Gap | 24.8% | 20.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Chesapeake, it is 0.537, lower than Virginia's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 33% more than women's income in Chesapeake, Virginia. Over a 35-year career, a 33% wage gap accumulates to roughly $694,435 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Chesapeake, Virginia has narrowed from about 30% to 25% in 2024. Over that period the gap was widest at 30% in 2010, and was narrowest at 23% in 2018. In dollar terms, the gap has widened by $3,535 since 2009.
Employment
| Metric | Chesapeake | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 4.1% | 5.2% |
| Working from Home | 13.1% | 18.3% | 15.0% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 6,134 people are unemployed in Chesapeake, Virginia.
The average commute time in Chesapeake is 23 minutes, about the same as in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chesapeake, Virginia has fallen from 5.7% to 4.6% in 2024. Over that period the rate peaked at 7.2% in 2014 and fell as low as 4.4% in 2019.
Chesapeake, VA Wealth Compared With Nearby Cities
Chesapeake, VA is typical in size for this group, 252,549 residents against a local median of 233,287, so the measures below are close to a like for like comparison. Chesapeake, VA's median household income, at $95,849, runs 45% above the $66,067 typical of the cities around it. That is the better end of the local range on this measure.
The cities themselves spread $32,622 on median household income, so Chesapeake, VA sits at one end of an already wide local range rather than apart from it. Chesapeake, VA has the highest median household income of the 4 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Chesapeake, VA | 252,549 | $95,849 #1/4 | 4.0%/yr #2/4 | 4.6% #2/4 | 0.537 #4/4 |
| Portsmouth, VA | 97,157 | $60,549 | 3.2%/yr | 6.0% | 0.529 |
| Norfolk, VA | 233,287 | $66,067 | 4.8%/yr | 4.7% | 0.528 |
| Virginia Beach, VA | 456,072 | $93,171 | 4.0%/yr | 3.6% | 0.521 |
Conclusion
Considering all these factors, Chesapeake, Virginia has an overall wealth index grade of B, making it about on par with Virginia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Chesapeake, Virginia.
How Rich Is Chesapeake, Virginia?
Chesapeake has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $95,849, about 2% higher than the Virginia average of $93,527.
How has median household income changed in Chesapeake, Virginia?
Between 2009 and 2024, the median household income in Chesapeake, Virginia rose 42%, from $67,385 to $95,849. Over the same years, income here lagged behind Virginia as a whole: +42% against +55%.
What was the median household income in Chesapeake in 2023?
In 2023, the median household income in Chesapeake, Virginia was $94,954, up 2% from $92,708 in 2022. The Virginia median that year was $91,420.
What was the median household income in Chesapeake in 2020?
In 2020, the median household income in Chesapeake, Virginia was $81,108. By 2024 it had risen 18% to $95,849.
What is the Gini coefficient in Chesapeake, Virginia?
The Gini coefficient in Chesapeake is 0.537. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Chesapeake, Virginia?
Since 2009, the income gap between men and women in Chesapeake, Virginia has narrowed from about 30% to 25% in 2024. Over that period the gap was widest at 30% in 2010, and was narrowest at 23% in 2018. In dollar terms, the gap has widened by $3,535 since 2009.
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