The present invention aims to provide an aqueous dispersion capable of forming a coating film that has excellent adhesion to a substrate and excellent water resistance. The aqueous dispersion of the present invention includes fluorine-containing composite polymer particles of a polymer (A) with a repeating unit of vinylidene fluoride and a polymer (B) with a repeating unit of at least one acrylic monomer selected from the group consisting of acrylic acid, acrylic acid esters, methacrylic acid, and methacrylic acid esters, the dispersion having an acid value of at least 3 mgKOH/g.