Henrico, VA—23233
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Henrico, VA
As of Oct '25, the median home price in Henrico, VA is $525,000, with a year-over-year change of 2.2%. This indicates that home prices in Henrico, VA are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $525,000 | 2.2% |
| Single Family | $542,000 | 2.5% |
| Condos | $399,000 | 1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $292,000 | -0.3% |
3 Bed | $428,000 | 1.9% |
4 Bed | $573,000 | 2.5% |
| 5 Bed | $792,000 | 2.9% |
% of Housing Stock
Rental Trends — Henrico, VA
As of July '25, Rentcast reports the average rent in Henrico, VA is $2,500, with a year-over-year rent change of -1.6%. Per bedroom, the median rent as of July '25 in Henrico, VA is 1-bedrooms: $1,660, 2-bedrooms: $1,990, 3-bedrooms: $2,500, 4-bedrooms: $3,300. The most common rental property sizes in Henrico, VA are 2-bedroom and 1-bedroom, accounting for 40.9% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,490 | $1,660 |
| 2 Bed Rent | $2,200 | $1,990 |
| 3 Bed Rent | $2,500 | $2,500 |
| 4 Bed Rent | $2,970 | $3,300 |
% of Rental Stock
Property Listings — Henrico, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Henrico, VA is 44. This is a decrease of -32.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $494,000 | -5.0% |
Listing Count | 104 | -10.0% |
| Listings as % of Homes | 0.4% | -10.0% |
Days on Market | 44 | -32.0% |
Demographics — Henrico, VA
As of the latest ACS Survey released in 2023, Henrico, VA has a population of 31,800, which has increased by 2.2% over the past 5 years. Henrico, VA is a moderately popular place for families, as children make up 24.2% of the population. The area has a highly educated workforce, with 71.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,800 | 2.2% |
% Under 18 | 24.2% | 2.1% |
% Seniors | 15.3% | 28.6% |
% WFH | 21.3% | 187.8% |
% w/ College Degree | 71.2% | 2.6% |
As of the latest ACS Survey released in 2023, Henrico, VA is a predominantly white area, with 67.8% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Henrico, VA is asian, making up 18.0% of the population. Foreign-born residents account for 18.1% of the population in Henrico, VA, and this percentage has increased by 1.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 67.8% | -6.7% |
% Black | 6.4% | -4.5% |
% Hispanic | 3.5% | 9.4% |
% Asian | 18.0% | 16.1% |
% Foreign Born | 18.1% | 1.1% |
Mortgage and Risk — Henrico, VA
Henrico, VA lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Henrico, VA
As of 2024, the percent of homes in Henrico, VA under the Section 8 program is 0.1%. 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. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Henrico, VA, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 11 |
Total Units Section 8 | 11 |
% Rentals under Section 8 | 0.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $390 | $1,490 | $1,880 |
| 2 Bedroom | -$120 | $2,200 | $2,080 |
| 3 Bedroom | $130 | $2,500 | $2,630 |
| 4 Bedroom | $280 | $2,970 | $3,250 |
Affordability — Henrico, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $525,000 |
| Median Household Income | $118,000 |