Median Home Price
$473,134.72
Median RentBETTER
$2,056.59/mo
Price-to-Rent Ratio
19.2
Property Tax RateTIE
0.82%
Price Change (1Y)
-0.2%
Price Change (5Y)
-1.1%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$252,970
Median Home PriceBETTER
$409,594.98
Median Rent
$2,084.02/mo
Price-to-Rent RatioBETTER
16.4
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+3.0%
Price Change (5Y)BETTER
+15.0%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$125,641
Key Differences
Home Prices
Charlottesville's median home price of $473,134.72 is higher than Chesapeake's $409,594.98 by 16%.
Monthly Rent
Renting in Charlottesville costs $2,056.59/mo compared to $2,084.02/mo in Chesapeake—a difference of $27.43/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.