The story of this market
The typical home in ZIP 23124 sells for about $447,325, or $208 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 36 days to sell. HUD's fair market rent for a two-bedroom is $1,750 a month.
ZIP 23124 — New Kent
The 23124 housing market remains stable with moderate price appreciation and low inventory levels. Demand is driven by families seeking suburban space within commuting distance of Richmond, though higher interest rates have tempered the pace of sales compared to previous years.
This ZIP code is ideal for families and commuters seeking a balance between rural living and access to Richmond's job market, offering larger lot sizes and newer construction.
Median prices moved up 2.1% year over year.
Homes spend a median of 36 days on market with 4.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.6% · poverty 2.2% — 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 6.0%/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 6.0%/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 23124, New Kent 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 New Kent area are generally lower than the Virginia and national averages, with property crime being the primary concern in rural residential pockets.
Schools serving the 23124 ZIP code are part of the New Kent County Public Schools district, which maintains a strong reputation for academic performance and community engagement.
The area faces moderate risk from severe thunderstorms and occasional flooding in low-lying areas near the Chickahominy River, with standard insurance requirements for homeowners.
Growth is driven by residential expansion and proximity to the Richmond-Petersburg metro area, with significant infrastructure investment in road improvements along the I-64 corridor.
Property taxes are levied by New Kent County based on assessed fair market value, with no additional municipal income tax; special districts include local school and utility service levies.
Commuters primarily utilize I-64 to reach the Richmond employment core, with average drive times ranging from 30 to 45 minutes depending on traffic conditions.
The area features access to the Chickahominy River for boating and fishing, several local golf courses, and proximity to regional parks and trails in New Kent County.
The rental market is characterized by low vacancy rates and high demand for single-family homes, with limited multi-family inventory available.
The local economy is supported by a mix of agricultural, retail, and service-sector jobs, with many residents commuting to the broader Richmond-Petersburg metropolitan area.
Transportation is heavily reliant on private vehicles, with I-64 serving as the primary artery for regional connectivity.
Development is focused on managed residential growth and infrastructure upgrades to support the increasing population density.
New Kent County assesses property at 100% of fair market value annually.
Parcels are subject to New Kent County school district taxes and local utility service district fees.
Property insurance premiums are stable, though homeowners in flood-prone areas near the river are required to carry flood insurance.
Virginia continues to see positive net domestic migration, particularly in suburban counties surrounding major metro hubs.
Virginia is a non-judicial foreclosure state, allowing for relatively efficient processing of defaults.
Virginia is a 'caveat emptor' state, but sellers are required to provide a residential property disclosure statement regarding the condition of the property.
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.
A popular local attraction featuring vineyards and event space.
Provides extensive outdoor recreation including camping, fishing, and boat access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.