ZIP Code 23238 — Henrico, VA Home Prices (2026)
The typical home in ZIP 23238 (Henrico, Virginia) is worth about $505,000 at roughly $261 per square foot — 22% more expensive than the Henrico median and 72% more expensive than the typical U.S. home.
How 23238 compares
ZIP 23238 is one of the pricier ZIP codes in Henrico: its typical home value of $505,000 ranks #3 of the 8 Henrico ZIP codes we track (the citywide range runs from $300,000 in 23223 to $543,000 in 23233). Per square foot it costs about $261, against $244 for Henrico as a whole, $221 for Virginia, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 23238 | $505,000 | $261 |
| Henrico, VA | $412,500 | $244 |
| Virginia | $342,000 | $221 |
| United States | $294,000 | $195 |
Home value by size in 23238
Using this ZIP’s rate of about $261 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $261,000 |
| 1,500 sq ft | $391,500 |
| 2,000 sq ft | $522,000 |
| 2,500 sq ft | $652,500 |
| 3,000 sq ft | $783,000 |
Salary needed to buy a home in ZIP 23238
To buy the typical $505,000 home in ZIP 23238 with 20% down, you need a household income of roughly $137,000 a year (about $3,210 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $163,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $25,300 | $3,980/mo | $171,000/yr |
| 10% (+PMI) | $50,500 | $3,810/mo | $163,000/yr |
| 20% | $101,000 | $3,210/mo | $137,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 23238
At about $261 per square foot, here is roughly how much home different budgets get you in ZIP 23238:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $250k | 960 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1150 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1530 sq ft | below the local median — condos, smaller or older homes |
| $500k | 1920 sq ft | around the typical home here |
| $600k | 2300 sq ft | around the typical home here |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 23238 home.
Estimate a specific home in 23238
The estimator below is pre-set to ZIP 23238 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Henrico ZIP codes by home value
Where 23238 sits among Henrico’s 8 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 23233 | $543,000 | $253 |
| 2 | 23229 | $530,000 | $297 |
| 3 | 23238 (this page) | $505,000 | $261 |
| 4 | 23230 | $425,000 | $278 |
| 5 | 23227 | $400,000 | $224 |
| 6 | 23294 | $366,000 | $218 |
| 7 | 23231 | $338,000 | $234 |
| 8 | 23223 | $300,000 | $231 |
ZIP 23238 home prices: frequently asked
What is the average home price in ZIP code 23238? +
What is the price per square foot in 23238? +
What salary do you need to buy a house in ZIP 23238? +
Is 23238 an expensive ZIP code? +
See the full Henrico home values page, all Virginia cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.