The story of this market
The typical home in ZIP 23238 sells for about $599,000, or $235 per square foot.
Prices are up +24.27% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,735 a month.
ZIP 23238 — Henrico (Unincorporated County Area)
The 23238 housing market is experiencing strong price appreciation driven by high demand and limited inventory. With a median sale price of $599,000 and a competitive sale-to-list ratio, the area remains a seller's market. Buyers are attracted to the high quality of life and proximity to major employment hubs, sustaining upward pressure on both home values and rents.
This ZIP is well-suited for family buyers and professionals seeking suburban living with access to high-quality schools and a relatively short commute to Richmond's employment core.
Median prices moved up 24.3% year over year.
Homes spend a median of 35 days on market with 3.2 months of supply — a fast-moving market.
15% 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 3.0% · poverty 9.8% — 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 6.3%/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 6.3%/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 23238, 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.
The area is served by highly-rated public schools within the Henrico County Public Schools system, generally regarded as providing strong academic outcomes.
The area faces standard regional risks for wind and storm events; flood risk is localized to specific low-lying areas near water features.
The area benefits from proximity to Richmond's major employment hubs and ongoing suburban development, with steady demand for residential expansion.
Property taxes are assessed by Henrico County based on fair market value; the county maintains a stable tax rate structure with no additional municipal-level property taxes for this ZIP.
Residents typically rely on personal vehicles for commutes to downtown Richmond and the surrounding business corridors via I-64 and I-295.
The area features access to local parks, golf courses, and suburban shopping centers, providing a mix of outdoor and retail amenities within a short drive.
The rental market is characterized by steady demand and limited vacancy, with rents trending upward due to the area's desirability and proximity to employment centers.
The local economy is anchored by the broader Richmond metro area, featuring a diverse mix of finance, healthcare, and professional services employers.
The area is primarily served by major highway corridors including I-64 and I-295, facilitating regional connectivity.
Ongoing residential and mixed-use development continues to shape the suburban landscape, with focus on infill and expansion projects.
Henrico County utilizes a centralized appraisal system to assess residential properties annually based on market data.
Parcels are subject to Henrico County property taxes and standard utility service districts.
Property insurance premiums are influenced by regional hazard profiles, with standard coverage widely available.
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 regional open-air shopping and dining destination.
Large community park with trails, sports fields, and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.