ZIP Code 23223 — Richmond, VA Home Prices (2026)
The typical home in ZIP 23223 (Richmond, Henrico County, Virginia) is worth about $296,000 at roughly $230 per square foot — 19% more affordable than the Richmond median and 2% more expensive than the typical U.S. home.
How 23223 compares
ZIP 23223 is one of the more affordable ZIP codes in Richmond: its typical home value of $296,000 ranks #9 of the 11 Richmond ZIP codes we track (the citywide range runs from $244,000 in 23224 to $646,000 in 23221). Per square foot it costs about $230, against $230 for Richmond as a whole, $221 for Virginia, and $193 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 23223 | $296,000 | $230 |
| Richmond, VA | $367,000 | $230 |
| Henrico County | $345,500 | $231 |
| Virginia | $336,500 | $221 |
| United States | $289,000 | $193 |
Home value by size in 23223
Using this ZIP’s rate of about $230 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 | $230,000 |
| 1,500 sq ft | $345,000 |
| 2,000 sq ft | $460,000 |
| 2,500 sq ft | $575,000 |
| 3,000 sq ft | $690,000 |
Home value appreciation in ZIP 23223
Home prices in ZIP 23223 have risen about 111% over the last 10 years (≈7.7% a year) and +126.1% over 20 years, according to the FHFA house price index through 2025. The most recent year came in at +2.2% — still rising. A home worth $296,000 today was worth roughly $140,484 ten years ago.
See where that trend takes a specific home with the home appreciation calculator — Richmond as a whole is +102.2% over the same 10 years. Past appreciation is a track record, not a forecast; local prices can fall.
Calculators for ZIP 23223
Run the numbers for ZIP 23223 with the local rates already filled in — change any input to test your own situation.
Salary needed to buy a home in ZIP 23223
To buy the typical $296,000 home in ZIP 23223 with 20% down, you need a household income of roughly $81,000 a year (about $1,880 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $96,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $14,800 | $2,340/mo | $100,000/yr |
| 10% (+PMI) | $29,600 | $2,230/mo | $96,000/yr |
| 20% | $59,200 | $1,880/mo | $81,000/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 23223
At about $230 per square foot, here is roughly how much home different budgets get you in ZIP 23223:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 650 sq ft | below the local median — condos, smaller or older homes |
| $200k | 870 sq ft | below the local median — condos, smaller or older homes |
| $250k | 1090 sq ft | around the typical home here |
| $300k | 1300 sq ft | around the typical home here |
| $400k | 1740 sq ft | above the median — larger homes or the pricier ZIPs |
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 23223 home.
Estimate a specific home in 23223
The estimator below is pre-set to ZIP 23223 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Richmond ZIP codes by home value
Where 23223 sits among Richmond’s 11 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 23221 | $646,000 | $358 |
| 2 | 23226 | $586,000 | $376 |
| 3 | 23220 | $447,000 | $292 |
| 4 | 23235 | $415,000 | $221 |
| 5 | 23236 | $391,000 | $220 |
| 6 | 23225 | $367,000 | $240 |
| 7 | 23219 | $360,000 | $299 |
| 8 | 23234 | $309,000 | $213 |
| 9 | 23223 (this page) | $296,000 | $230 |
| 10 | 23222 | $277,000 | $228 |
| 11 | 23224 | $244,000 | $210 |
ZIP 23223 home prices: frequently asked
What is the average home price in ZIP code 23223? +
What is the price per square foot in 23223? +
What salary do you need to buy a house in ZIP 23223? +
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Are home values in ZIP 23223 going up? +
See the full Richmond 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.