The story of this market
The typical home in ZIP 23059 sells for about $585,000, or $215 per square foot.
Prices are up +3.4% from a year ago, so sellers still have some momentum. Homes take about 33 days to sell. HUD's fair market rent for a two-bedroom is $1,900 a month.
ZIP 23059 — Glen Allen
The housing market in 23059 remains robust, characterized by steady price appreciation and high demand for suburban residential properties. Low inventory levels continue to drive competitive bidding, keeping the market hot despite broader economic shifts. Buyers are drawn to the area's strong school system and proximity to major employment hubs in the Richmond West End.
This ZIP is ideal for families and professionals seeking suburban living with high-quality schools and convenient access to Richmond's employment centers.
Median prices moved up 3.4% year over year.
Homes spend a median of 33 days on market with 3.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 100.1% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.6% · poverty 2.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 23059, Henrico County VA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the Glen Allen area remain relatively low compared to the broader Richmond metropolitan region, with property crime being the primary concern.
The area is served by the Henrico County Public Schools system, which generally maintains high ratings and strong academic performance across its elementary, middle, and high school tiers.
The region faces moderate risks from severe thunderstorms and occasional flooding in low-lying areas, with standard insurance coverage typically sufficient for most residential properties.
Glen Allen benefits from proximity to major corporate hubs in the West End of Richmond, with ongoing infrastructure improvements and steady residential development supporting economic momentum.
Property taxes are assessed by Henrico County based on fair market value, with rates set annually by the Board of Supervisors; no additional municipal income taxes apply.
Residents typically rely on I-295 and I-64 for commuting to downtown Richmond, with average drive times ranging from 20 to 30 minutes depending on traffic.
The area features extensive access to parks such as Short Pump Park and various walking trails, alongside proximity to major shopping centers like Short Pump Town Center.
The rental market in the Richmond metro area has seen vacancy rates around 8.5%, with steady demand for suburban single-family rentals in the Glen Allen area.
The local economy is anchored by the financial services, healthcare, and retail sectors, with significant employment hubs located in the nearby Innsbrook and Short Pump areas.
The area is well-connected by major highway corridors including I-64 and I-295, facilitating regional transit, though public transit options remain limited compared to the urban core.
Development is focused on mixed-use projects and infill residential construction, particularly along the Broad Street corridor.
Henrico County utilizes a centralized assessment system with annual reassessments to ensure property values reflect current market conditions.
Parcels are subject to standard county-wide school and utility district levies, with no significant MUD/PID structures reported.
Property insurance premiums are stable, reflecting the area's low risk profile for major natural disasters.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Major open-air shopping and dining destination serving the region.
Community park featuring sports fields and recreational facilities.
Large park with extensive trails, ponds, and athletic fields.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.