Chesapeake, VA is a vibrant city located in the Hampton Roads area of Virginia. The cost of living here is slightly higher than the national average due to its relative proximity to other larger cities such as Norfolk and Virginia Beach. Housing costs, in particular for two bedrooms, are slightly more expensive at $1,540 versus $1,430 nationally. Grocery prices also tend to be on the expensive side with an index rating of 100 compared to the US's 100.
Chesapeake offers many attractions for tourists and residents alike. The Chesapeake Arboretum is a great place for nature lovers and walkers, while Nauticus National Maritime Center provides interesting exhibits about naval history. For those looking for entertainment there are plenty of local restaurants such as Alamo BBQ, sushi spots like Koto Japanese Steakhouse and Bar, and nightlife venues like The Vanguard Brewpub & Distillery. Chesapeake also has several corporate headquarters including Dollar Tree (NASDAQ: DLTR), Dollar General (NYSE: DG) and TFCU Financial Group headquartered in the area.
Chesapeake has an unemployment rate of 5.0%. The US average is 6.0%.
Chesapeake has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 35.2%, which is higher than the US average of 33.5%.
Tax Rates for Chesapeake
- The Sales Tax Rate for Chesapeake is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Chesapeake is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Chesapeake
- The average income of a Chesapeake resident is $29,735 a year. The US average is $28,555 a year.
- The Median household income of a Chesapeake resident is $85,563 a year. The US average is $69,021 a year.