Colonial Heights, VA 23834 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Colonial Heights, VA—23834

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$289,000

0.5% YoY Growth

Household Income

$82,300

43.8% YoY Growth

Days on Market

6.0% Longer YoY

Home Price Forecast

2.1%

Median Rent

$1,790

1.2% YoY Growth

1-Bed Rent

$707

22.1% YoY Growth

2-Bed Rent

$1,250

0.8% YoY Growth

3-Bed Rent

$1,900

4.4% YoY Growth

Home Price Trends — Colonial Heights, VA

As of Nov '25, the median home price in Colonial Heights, VA is $289,000, with a year-over-year change of 0.5%. This indicates that home prices in Colonial Heights, VA are flat. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$289,000	0.5%
Single Family	$289,000	0.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Colonial Heights, VA

As of July '25, Rentcast reports the average rent in Colonial Heights, VA is $1,730, with a year-over-year rent change of 1.2%. Per bedroom, the median rent as of July '25 in Colonial Heights, VA is studios: $2,580, 1-bedrooms: $826, 2-bedrooms: $1,310, 3-bedrooms: $1,900, 4-bedrooms: $2,150. The most common rental property sizes in Colonial Heights, VA are 2-bedroom and 3-bedroom, accounting for 55.2% and 26.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,790	$1,730
Studio Rent	$2,580	$2,580
1 Bed Rent	$707	$826
2 Bed Rent	$1,250	$1,310
3 Bed Rent	$1,900	$1,900
4 Bed Rent	$2,150	$2,150

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% of Rental Stock

Studio

2.0%

1 Bedroom

5.9%

2 Bedrooms

55.2%

3 Bedrooms

26.9%

4 Bedrooms

5.4%

5+ Bedrooms

4.6%

Property Listings — Colonial Heights, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Colonial Heights, VA is 43. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$332,000	5.0%
Listing Count	81	-4.0%
Listings as % of Homes	0.5%	-4.0%
Days on Market	43	6.0%

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Demographics — Colonial Heights, VA

As of the latest ACS Survey released in 2023, Colonial Heights, VA has a population of 26,800, which has increased by 7.8% over the past 5 years. Colonial Heights, VA is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	26,800	7.8%
% Under 18	22.3%	-0.9%
% Seniors	17.6%	-5.4%
% WFH	9.3%	389.5%
% w/ College Degree	29.3%	24.7%

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As of the latest ACS Survey released in 2023, Colonial Heights, VA is a predominantly white area, with 62.9% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Colonial Heights, VA is black, making up 23.6% of the population. Foreign-born residents account for 6.6% of the population in Colonial Heights, VA, and this percentage has decreased by 5.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	62.9%	-6.3%
% Black	23.6%	18.0%
% Hispanic	8.2%	18.8%
% Asian	3.3%	10.0%
% Foreign Born	6.6%	-5.7%

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Mortgage and Risk — Colonial Heights, VA

According to HUD data as of 2023, there were 330 mortgage originations in Colonial Heights, VA, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Colonial Heights, VA. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	330
% Conventional Loans	64.0%
% Government Loans	36.0%
% Investor Loans	5.0%
% Second Loans	0.0%
% Cash Out Refinance	14.0%

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Rentals and Section 8 — Colonial Heights, VA

As of 2024, the percent of homes in Colonial Heights, VA under the Section 8 program is 15.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Colonial Heights, 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	454
Total Units Section 8	454
% Rentals under Section 8	15.1%
% Occupied Section 8	85.5%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$703	$707	$1,410
2 Bedroom	$310	$1,250	$1,560
3 Bedroom	$80	$1,900	$1,980
4 Bedroom	$290	$2,150	$2,440

Colonial Heights, VA—23834

Key Metrics at a Glance

Home Price Trends — Colonial Heights, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Colonial Heights, VA

% of Rental Stock

Property Listings — Colonial Heights, VA

Demographics — Colonial Heights, VA

Race and Ethnicity

Mortgage and Risk — Colonial Heights, VA

Mortgages

Rentals and Section 8 — Colonial Heights, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Colonial Heights, VA

Home Price to Income Ratio

Colonial Heights, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Chester, VA

Fort Lee, VA

Chester, VA

Petersburg, VA

Chesterfield, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$289,000
Median Household Income	$82,300

Colonial Heights, VA—23834

Key Metrics at a Glance

Home Price Trends — Colonial Heights, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Colonial Heights, VA

% of Rental Stock

Property Listings — Colonial Heights, VA

Demographics — Colonial Heights, VA

Race and Ethnicity

Mortgage and Risk — Colonial Heights, VA

Mortgages

Rentals and Section 8 — Colonial Heights, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Colonial Heights, VA

Home Price to Income Ratio

Colonial Heights, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Chester, VA

Fort Lee, VA

Chester, VA

Petersburg, VA

Chesterfield, VA

Frequently Asked Questions

What is the average home price in Colonial Heights, VA 23834?

How have home prices in Colonial Heights, VA 23834 changed over the past year?

What is the home price projection for Colonial Heights, VA 23834?

What are the demographics of Colonial Heights, VA 23834?

How long does it take homes to sell in Colonial Heights, VA 23834?

What is the average rent price in Colonial Heights, VA 23834?