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
Median Home Price
$454,879.61
Median RentBETTER
$2,014.53/mo
Price-to-Rent Ratio
18.8
Property Tax RateTIE
0.82%
Price Change (1Y)
+0.3%
Price Change (5Y)
+1.3%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$303,986
Key Differences
Home Prices
Chesapeake's median home price of $409,594.98 is lower than Fredericksburg's $454,879.61 by 10%.
Monthly Rent
Renting in Chesapeake costs $2,084.02/mo compared to $2,014.53/mo in Fredericksburg—a difference of $69.49/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.