Metro area index
Home appreciation in the Virginia Beach-Chesapeake-Norfolk, VA-NC metro area
FHFA HPI® data shows the Virginia Beach-Chesapeake-Norfolk, VA-NC metro area's all-transactions index changed +3.6% over the year to Q2 2026, versus +3.8% for Virginia and +3.0% for the U.S. That ranks 180th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.6%
- 5-year change
- +43.4%
- Since Q1 1995
- +289%
- Metro rank (1 year)
- 180th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Virginia Beach-Chesapeake-Norfolk, VA-NC vs Virginia and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Virginia Beach-Chesapeake-Norfolk, VA-NC: 389.0
- Virginia: 403.8
- United States: 391.6
Appreciation by time window
| Window | Metro | VA | U.S. | Gap vs VA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.6% | +3.8% | +3.0% | −0.1 pts | +0.6 pts |
| 3 years | +15.5% | +15.9% | +12.9% | −0.5 pts | +2.6 pts |
| 5 years | +43.4% | +44.1% | +41.3% | −0.6 pts | +2.1 pts |
| 10 years | +78.2% | +83.4% | +93.3% | −5.2 pts | −15.2 pts |
| Since Q1 1995 | +289% | +304% | +292% | −14.8 pts | −2.6 pts |
3-digit ZIP regions in the Virginia Beach-Chesapeake-Norfolk, VA-NC area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 235 · Norfolk, VA area | VA | +1.9% | +38.8% | +308% | 100% |
| 236 · Newport News, VA area | VA | +2.2% | +41.0% | +245% | 100% |
| 237 · Portsmouth, VA area | VA | +3.6% | +43.4% | +289% | 100% |
| 234 · Virginia Beach, VA area | VA | +4.1% | +44.4% | +321% | 96% |
| 233 · Chesapeake, VA area | VA | +3.9% | +44.6% | +291% | 91% |
| 231 · Williamsburg, VA area | VA | +3.1% | +47.2% | +255% | 27% |
| 279 · Elizabeth City, NC area | NC | -1.9% | +50.6% | +331% | 23% |
| 230 · Ashland, VA area | VA | +4.3% | +49.1% | +277% | 19% |
Boom, bust, and recovery in Virginia Beach-Chesapeake-Norfolk, VA-NC area
Virginia Beach-Chesapeake-Norfolk, VA-NC area's index peaked in Q2 2007, fell 19.3% to its low in Q4 2013, and regained its peak in Q1 2021, about 13.8 years after the top. Today it sits +53.1% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q2 2007 | Q4 2013 | -19.3% | Q1 2021 (13.8 yrs) | +53.1% |
| VA | Q2 2007 | Q2 2012 | -17.4% | Q2 2019 (12 yrs) | +66.9% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Virginia Beach-Chesapeake-Norfolk, VA-NC area's index has changed +75.7% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | VA after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.2% | -0.1% | -0.8% |
| 3 years | +9.8% | +5.2% | +5.6% | +2.8% |
| 5 years | +24.0% | +15.6% | +16.2% | +13.9% |
| 10 years | +39.1% | +28.1% | +31.9% | +39.0% |
| Since Q1 1995 | +121% | +75.7% | +82.4% | +76.8% |
If you bought in the Virginia Beach-Chesapeake-Norfolk, VA-NC area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +283% | $1,149,379 |
| Q2 2000 | +231% | $993,571 |
| Q2 2005 | +86.5% | $559,533 |
| Q2 2010 | +74.4% | $523,251 |
| Q2 2015 | +82.0% | $546,048 |
| Q2 2020 | +58.4% | $475,063 |
| Q2 2021 | +43.4% | $430,302 |
| Q2 2023 | +15.5% | $346,411 |
| Q2 2025 | +3.6% | $310,911 |
Frequently asked questions
- How much have home prices risen in the Virginia Beach-Chesapeake-Norfolk, VA-NC area?
- FHFA HPI® data for the Virginia Beach-Chesapeake-Norfolk, VA-NC metro area shows changes of +3.6% over one year, +43.4% over five years, and +78.2% over ten years to Q2 2026, and +289% since Q1 1995.
- Is the Virginia Beach-Chesapeake-Norfolk, VA-NC area beating the national average?
- Over the past year the metro's index moved +0.6 pts versus the U.S.; over five years the gap is +2.1 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.