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Henrico, VA—23294

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$367,000
0.5% YoY Growth
Household Income
$66,600
17.8% YoY Growth
Days on Market
31
11.0% Shorter YoY
Home Price Forecast
0.9%
Median Rent
$2,150
4.1% YoY Growth
1-Bed Rent
$1,340
N/A
2-Bed Rent
$1,680
5.6% YoY Growth
3-Bed Rent
$2,300
7.2% YoY Growth

Other Zip Codes in Henrico, VA

232312322923230232272322323233
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Henrico, VA

As of May '26, the median home price in Henrico, VA is $367,000, with a year-over-year change of 0.5%. This indicates that home prices in Henrico, VA are flat. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$367,0000.5%
Single Family $370,0000.5%
Condos $303,000-0.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$292,000-1.4%
    3 Bed
    		$359,0000.6%
    4 Bed
    		$412,0000.5%
    5 Bed $479,905-1.0%
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    % of Housing Stock

    Studio
    0.8%
    1 Bedroom
    20.6%
    2 Bedrooms
    37.8%
    3 Bedrooms
    29.2%
    4 Bedrooms
    11.1%
    5+ Bedrooms
    0.6%

    Rental Trends — Henrico, VA

    As of July '25, Rentcast reports the average rent in Henrico, VA is $2,110, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Henrico, VA is 1-bedrooms: $1,360, 2-bedrooms: $1,690, 3-bedrooms: $2,380, 4-bedrooms: $2,630. The most common rental property sizes in Henrico, VA are 2-bedroom and 1-bedroom, accounting for 47.8% and 31.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,150$2,110
    Studio Rent N/AN/A
    1 Bed Rent $1,340$1,360
    2 Bed Rent $1,680$1,690
    3 Bed Rent $2,300$2,380
    4 Bed Rent $2,650$2,630
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    % of Rental Stock

    Studio
    1.3%
    1 Bedroom
    31.3%
    2 Bedrooms
    47.8%
    3 Bedrooms
    16.1%
    4 Bedrooms
    3.6%

    Property Listings — Henrico, VA

    As of May '26, Realtor.com reports that the median days on market for a home in Henrico, VA is 31. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$380,000-6.0%
    Listing Count
    		4236.0%
    Listings as % of Homes0.2%36.0%
    Days on Market
    		31-11.0%
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    Demographics — Henrico, VA

    As of the latest ACS Survey released in 2023, Henrico, VA has a population of 19,400, which has increased by 6.7% over the past 5 years. Henrico, VA is a moderately popular place for families, as children make up 22.7% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		19,4006.7%
    % Under 18
    		22.7%6.1%
    % Seniors
    		10.8%-7.7%
    % WFH
    		19.4%212.9%
    % w/ College Degree
    		39.0%-4.4%
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    As of the latest ACS Survey released in 2023, Henrico, VA is a predominantly white area, with 45.2% of the population identifying as white. The white population has shrunk by 9.1% in the last 5 years. The second most common race or ethnicity in Henrico, VA is black, making up 18.7% of the population. Foreign-born residents account for 23.9% of the population in Henrico, VA, and this percentage has decreased by 9.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		45.2%-9.1%
    % Black
    		18.7%-4.1%
    % Hispanic
    		12.5%92.3%
    % Asian
    		17.6%-14.6%
    % Foreign Born
    		23.9%-9.1%
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    Mortgage and Risk — Henrico, VA

    According to HUD data as of 2023, there were 166 mortgage originations in Henrico, VA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Henrico, VA. Investor activity is low, as 8.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		166
    % Conventional Loans
    		82.0%
    % Government Loans
    		18.0%
    % Investor Loans
    		8.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		9.0%
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    Rentals and Section 8 — Henrico, VA

    As of 2024, the percent of homes in Henrico, VA under the Section 8 program is 1.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Henrico, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

    Section 8 Market Size

    Total Units under HUD
    		99
    Total Units Section 8
    		99
    % Rentals under Section 8
    		1.7%
    % Occupied Section 8
    		88.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$450$1,340$1,790
    2 Bedroom$300$1,680$1,980
    3 Bedroom$210$2,300$2,510
    4 Bedroom$450$2,650$3,100

    Affordability — Henrico, VA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.9
    Median Home Price$367,000
    Median Household Income$66,600

    Henrico, VA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Glen Allen, VA

    23060

    Henrico, VA

    23229

    Lakeside, VA

    23228

    River Road Hills

    23173

    Richmond, VA

    23226

    Frequently Asked Questions