The story of this market
The typical home in ZIP 23273 sells for about $398,000, or $229 per square foot.
Prices are up +5.6% from a year ago, so sellers still have some momentum. Homes take about 40 days to sell. HUD's fair market rent for a two-bedroom is $2,000 a month.
ZIP 23273 — Henrico
The Richmond housing market shows resilience with moderate price appreciation and competitive demand. While inventory remains tight, the market is supported by a stable regional economy and consistent buyer interest.
This ZIP code is a unique, non-residential designation primarily serving corporate and institutional functions rather than individual residential housing markets.
Median prices moved up 5.6% year over year.
Homes spend a median of 40 days on market with 3.1 months of supply — a fast-moving market.
16% of listings have cut prices · homes sell at 101.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 12.0% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
Not determinable for ZIP 23273 specifically; city-wide crime trends in Richmond are monitored by local law enforcement with regional variations.
Not determinable for ZIP 23273 as it is a unique/corporate ZIP code; prevailing school quality in the surrounding Henrico and Richmond areas varies by specific attendance zone.
The area is subject to standard regional climate risks including potential for localized flooding and severe summer storms; insurance posture is consistent with the broader Virginia Piedmont region.
ZIP 23273 is a unique ZIP code primarily associated with corporate and institutional entities in the Richmond area, contributing to the region's stable economic base.
Property taxes are assessed at the local jurisdiction level (Henrico County/Richmond City) based on fair market value; specific exemptions for corporate or institutional parcels may apply.
Not determinable for this unique ZIP code; generally, the area has access to major regional highway corridors including I-64 and I-95.
The area benefits from proximity to Richmond's extensive park system, including the James River Park System and various regional shopping districts.
The rental market in the broader Richmond area remains competitive with steady demand, though specific data for this unique ZIP is not applicable.
Richmond's economy is anchored by finance, government, and healthcare sectors, with major employers including Capital One and VCU Health.
The region is served by a network of interstate highways and the GRTC Transit System, providing connectivity across the metropolitan area.
Ongoing urban development projects in Richmond focus on mixed-use revitalization and infrastructure improvements.
The local appraisal districts conduct annual assessments of real property based on market value standards.
Parcels in this area may be subject to various special service districts, including utility and school district levies.
Property insurance markets in Virginia are generally stable, though premiums are influenced by regional hazard exposure.
Virginia has experienced moderate net domestic migration, with urban centers like Richmond attracting a mix of professionals and families.
Virginia operates as a non-judicial foreclosure state, allowing for relatively efficient processing of defaults.
Virginia is a 'caveat emptor' state, though sellers are required to provide a residential property disclosure statement regarding the condition of the property.
Data derived from ZCTA-level census profiles and regional market reports.
Extensive urban park system offering trails and river access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.