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Richmond city, VA

ZIP 23224 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 23224

Median Home Value
$189,200
Median Rent
$1,048
Affordability Snapshot
$52,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,215/mo PITI).

26%
Rent-to-Income Ratio

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

3.8x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

15.0 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 23224 in Richmond city, VA, a household would need roughly $52,000 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 $1,215. That is roughly in line with the local median household income ($49,263). 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
34.6%-47% vs US avg
x
Vacancy Rate
9.4%-8% vs US avg
x
Broadband Access
81.3%-6% vs US avg
x
4+ Bedrooms
0.9%-94% vs US avg
x
Built Pre-1939
9.8%-23% vs US avg
x
Built Post-2014
1.8%-74% vs US avg
x
Rent Burden >30%
28.3%-43% vs US avg
x
Mortgage-Free
28.8%-25% vs US avg
x
$189,200
Home Value
$1,048
Rent
1967
Year Built
2017
Moved In

Residents have lived here since ~2017 on average

Housing Structure

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

  • 1-unit detached48.3%
  • 1-unit attached6.1%
  • 2-9 units17.9%
  • 10+ units26.1%
  • Mobile home & other1.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$189,200
Median rent$1,048
Owner-occupied34.6%
Vacant9.4%
Price-to-income3.8x
Est. income to buy$52,000