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Chesterfield County, VA

RANK #539 / 996  ·  POP 366,019  ·  VA

PROJECTED GROWTH: +0.6%

Chesterfield County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Chesterfield County?

Pocahontas State Park, an 8,000-acre outdoor haven, anchors Chesterfield County, Virginia, offering extensive trails, boating, and fishing opportunities. Located just south of Richmond, the county provides a suburban and rural feel with convenient access to the city via major interstates and public transit options like GRTC bus service and park-and-ride lots. The community is characterized by its blend of historical significance, including sites like Henricus Historical Park, and natural beauty, bordered by the James and Appomattox Rivers. Notable towns like Midlothian, Chester, and Moseley offer distinct charm, with Midlothian recognized for its small-town appeal.

Chesterfield County attracts families and individuals seeking a balanced lifestyle, with public schools generally performing above average. The county's economy is diversifying beyond its historical agricultural roots, with recent investments in advanced manufacturing, data centers, and renewable energy sectors. This economic growth contributes to a landscape where residents find a mix of established neighborhoods and new developments. The county has seen an increase in population and income growth, indicating its appeal as a place to live and work.

[02] Market Snapshot

Housing Ratio
6.0x

Above national median (4.7x)

GDP Growth
+4.1%

Well above national median

Home Prices
+1.5%

Above national median

Climate & Terrain
-0.8

Below-average climate & terrain

Price/Rent
14x

Above national median (13x)

Housing is fairly valued at 6.0x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Chesterfield County U.S. National

The Numbers

DEMOGRAPHICS
Population
366,019
+1.73% YoY
Median Household Income
$95,757
Median Home Value
$306,500
+1.51% 12mo
Median Rent
$1,460
Average Annual Pay
$62,685
+4.0% YoY
Employment
145,905
+2.1% YoY
Income-to-Home-Value
0.3124
More affordable than average
Migration Inflow
4.66%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$421,507
Days on Market
50
Moderate pace
Months of Supply
1.7
Seller's market
Sale-to-List Ratio
99.5%
Near asking price
Sold Above List
33.6%
Listings w/ Price Drops
19.4%
Building Permits (2024)
2,307
Single-Family Permits
1,845

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$14,038M
TOTAL
PROJECT AMOUNT STATUS
Google Data Center Campus (Project Peanut)
Google
$9,000M Under Construction
Chester Solar Technology Park (Data Center & Solar Farm)
Torch Clean Energy
$2,000M Planned
Chesterfield Energy Reliability Center (CERC) Natural Gas Plant
Dominion Energy
$1,470M Approved
LEGO Manufacturing Facility
LEGO
$1,000M Under Construction
Topsoe Manufacturing Plant
Topsoe
$400M Under Construction
Proctors Creek Wastewater Treatment Plant Upgrades
Chesterfield County Utilities
$168M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +4.1% 74 percentile
Population Growth +1.7% 86 percentile
Income Growth +8.4% 48 percentile
Vacancy Rate 0.8% 77 percentile
Home Price Change +1.5% 53 percentile
Rent Growth +3.5% 60 percentile
Price/Rent 14x 43 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Chesterfield County, VA a good place to move to?

Chesterfield County has a Boom Town Index score of 46/100, ranking #539 among 996 U.S. counties. With job growth at +2.1% and a median household income of $95,757, it faces some economic headwinds compared to faster-growing counties.

Is Chesterfield County affordable?

The median home value in Chesterfield County is $306,500 with median rent at $1,460/month. The income-to-home-value ratio is 0.3124, which is more affordable than the national average.

Is Chesterfield County growing or shrinking?

Population growth: +1.7% year-over-year. Job growth: +2.1%. Home values changed +1.5% in the past 12 months.

Are people moving to Chesterfield County?

Yes — 4.66% of Chesterfield County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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