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Richmond city, VA

ZIP 23221 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 23221

Median Home Value
$544,400
Median Rent
$1,334
Affordability Snapshot
$150,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,497/mo PITI).

17%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.6x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

34.0 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 23221 in Richmond city, VA, a household would need roughly $150,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,497. That is about 55% above the local median household income ($97,006), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
50.5%-23% vs US avg
x
Vacancy Rate
4.5%-57% vs US avg
x
Broadband Access
96.3%+11% vs US avg
x
4+ Bedrooms
5.0%-66% vs US avg
x
Built Pre-1939
17.4%+36% vs US avg
x
Built Post-2014
0.0%-100% vs US avg
x
Rent Burden >30%
17.9%-64% vs US avg
x
Mortgage-Free
29.9%-22% vs US avg
x
$544,400
Home Value
$1,334
Rent
1941
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached38.1%
  • 1-unit attached11.3%
  • 2-9 units34.6%
  • 10+ units15.9%
  • Mobile home & other0.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$544,400
Median rent$1,334
Owner-occupied50.5%
Vacant4.5%
Price-to-income5.6x
Est. income to buy$150,000