ZIP Code 23224 — Richmond, VA Home Prices (2026)
The typical home in ZIP 23224 (Richmond, Virginia) is worth about $248,000 at roughly $224 per square foot — 36% more affordable than the Richmond median and 16% more affordable than the typical U.S. home.
How 23224 compares
ZIP 23224 is one of the more affordable ZIP codes in Richmond: its typical home value of $248,000 ranks #10 of the 10 Richmond ZIP codes we track (the citywide range runs from $248,000 in 23224 to $659,000 in 23221). Per square foot it costs about $224, against $239 for Richmond as a whole, $221 for Virginia, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 23224 | $248,000 | $224 |
| Richmond, VA | $385,500 | $239 |
| Virginia | $342,000 | $221 |
| United States | $294,000 | $195 |
Home value by size in 23224
Using this ZIP’s rate of about $224 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 | $224,000 |
| 1,500 sq ft | $336,000 |
| 2,000 sq ft | $448,000 |
| 2,500 sq ft | $560,000 |
| 3,000 sq ft | $672,000 |
Salary needed to buy a home in ZIP 23224
To buy the typical $248,000 home in ZIP 23224 with 20% down, you need a household income of roughly $67,000 a year (about $1,570 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $80,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $12,400 | $1,960/mo | $84,000/yr |
| 10% (+PMI) | $24,800 | $1,870/mo | $80,000/yr |
| 20% | $49,600 | $1,570/mo | $67,000/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 23224
At about $224 per square foot, here is roughly how much home different budgets get you in ZIP 23224:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 670 sq ft | below the local median — condos, smaller or older homes |
| $200k | 890 sq ft | around the typical home here |
| $250k | 1120 sq ft | around the typical home here |
| $300k | 1340 sq ft | around the typical home here |
| $400k | 1790 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 23224 home.
Estimate a specific home in 23224
The estimator below is pre-set to ZIP 23224 — 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 23224 sits among Richmond’s 10 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 23221 | $659,000 | $386 |
| 2 | 23226 | $593,000 | $387 |
| 3 | 23220 | $455,000 | $284 |
| 4 | 23235 | $422,000 | $217 |
| 5 | 23236 | $397,000 | $225 |
| 6 | 23225 | $374,000 | $248 |
| 7 | 23219 | $366,000 | $305 |
| 8 | 23234 | $315,000 | $211 |
| 9 | 23222 | $285,000 | $229 |
| 10 | 23224 (this page) | $248,000 | $224 |
ZIP 23224 home prices: frequently asked
What is the average home price in ZIP code 23224? +
What is the price per square foot in 23224? +
What salary do you need to buy a house in ZIP 23224? +
Is 23224 an expensive ZIP code? +
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.