The story of this market
The typical home in ZIP 23229 sells for about $527,500, or $243 per square foot.
Prices are up +4.8% from a year ago, so sellers still have some momentum. Homes take about 26 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,438 a month.
ZIP 23229 — Richmond
The 23229 housing market remains robust, characterized by low inventory and steady price appreciation. High demand for established suburban homes, coupled with the area's strong school ratings and proximity to major employment hubs, continues to drive competitive bidding and short days on market.
This ZIP is ideal for families seeking high-quality schools and professionals commuting to Richmond's West End or downtown. It appeals to those looking for a stable, established suburban environment with convenient access to retail and recreation.
Median prices moved up 4.8% year over year.
Homes spend a median of 26 days on market with 2.1 months of supply — a fast-moving market.
14% of listings have cut prices · homes sell at 100.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 7.6% — 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 5.9%/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 3.2%/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 23229, 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 23229 area are generally lower than the Richmond city average, with the community characterized as a stable suburban environment. Reported incidents are primarily property-related, consistent with regional suburban trends.
The area is served by highly-rated public schools within the Henrico County Public Schools system, which is frequently recognized for strong academic performance and college readiness.
The area faces standard regional risks including occasional heavy rainfall and wind events, though it is not located in a high-risk coastal flood zone. Property insurance remains stable but is subject to broader Virginia market adjustments for weather-related claims.
Economic momentum is driven by proximity to the Richmond employment core and major suburban office hubs in Henrico County. Infrastructure remains robust with ongoing maintenance of major arterial roads like Broad Street.
Property taxes are assessed by Henrico County based on fair market value, with a tax rate that is competitive within the Richmond metropolitan area. No special district surcharges are widely applied to residential parcels in this ZIP.
Residents benefit from direct access to I-64 and Broad Street, providing a straightforward commute to downtown Richmond and the West End employment centers. Public transit options are available via GRTC bus routes along major corridors.
The area features significant green space including Deep Run Park and various community trails. Shopping and dining are concentrated along the Broad Street corridor, offering extensive retail access within a 3-mile radius.
The rental market is characterized by steady demand and low vacancy rates, supported by a mix of apartment complexes and single-family rentals. Rent growth has remained moderate, tracking with broader regional inflation.
The economy is anchored by the healthcare, finance, and professional services sectors in the Richmond metro area. Major employers include Capital One, VCU Health, and various regional government offices.
The area is well-served by I-64 and I-295, facilitating regional travel. GRTC provides bus transit connectivity to the broader Richmond network.
Development is focused on infill projects and the revitalization of existing commercial centers along the Broad Street corridor.
Henrico County utilizes a centralized assessment system with annual reviews to ensure property values reflect current market conditions.
Parcels are primarily subject to Henrico County general tax levies; no significant MUD or PID districts are prevalent.
Property insurance remains available and competitive, though premiums are influenced by regional weather patterns and national reinsurance trends.
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Data retrieved from Census Reporter and ACS B-series 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.
Large suburban park with trails, sports fields, and ponds.
Major regional open-air shopping and dining destination nearby.
Private golf and social club serving the local community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.