23320, Chesapeake, VA

The 23320 zip code of Chesapeake, VA has a population of around 97,000 people and is located in the Eastern Shore region of Virginia. The median home value in this zip code is $236,500 which is above the national median home value of $177,500. In addition, the average home equity in this zip code is $131,200 which is significantly higher than the national average of $63,600.

There are a number of factors that contribute to the high home equity and home prices in this zip code. First and foremost, Chesapeake is a desirable location with plenty of job opportunities and amenities such as beaches and golf courses. Additionally, homes in this area tend to be larger and newer than those found in other parts of Virginia. Finally, there has been an influx of wealthy families moving into this area over the past few years which has driven up prices even further.

Despite these positive factors, there are some challenges that face residents living in 23320 zip code. One issue that comes up frequently is affordability – many families find it difficult to afford homes here despite their high home values. Additionally, while incomes have increased over the past few years thanks to strong job growth rates, they are not enough to cover all expenses associated with owning a home such as property taxes and insurance premiums. As a result, many families are forced to sell their homes at a loss or move out of the area altogether.