How much is a home worth in ZIP code 23221?

The typical home in 23221 is worth $648,180, based on the Zillow Home Value Index.

Are home values rising in 23221?

Home values in 23221 are up 1.9% over the past year, and up 6.2% a year over five years.

What is the typical rent in 23221?

A typical home in 23221 rents for about $1,756 a month, a gross rental yield of 3.3%.

What is the property tax rate in 23221?

The effective property tax rate in 23221 is 1.0% — roughly $6,505 a year on a typical home.

ZIP code 23221 has a population of 14,402 and a median household income of $99,816.

HousingHandbookReference data

…

U.S. ZIP Code · VA23221

Richmond city · Richmond, VA

Typical home value

$648,180^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.9%
5-year / yr: +6.2%
10-year / yr: +6.6%

Relative price

vs U.S.: +128.2%
vs metro: +74.3%
vs state: +97.4%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 23221 is worth $648,180 — 74.3% above the Richmond, VA median. Over the past year, values have risen 1.9%. Homes here rent for a typical $1,756 a month — a 3.3% gross rental yield. The effective property tax rate is 1.0%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,756^[2]
Gross yield: 3.3%^[2]
Cap rate: 2.0%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.0%^[3]
Typical annual tax: $6,505^[3]

#Climate risk

FEMA National Risk Index ratings for Richmond city. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Moderate
Coastal flood: Very Low
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Relatively Low
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Relatively Low

#Who lives here

Population: 14,402^[3]
Median household income: $99,816^[3]

#Migration

Household moves in and out of Richmond city over a year, from IRS tax-return data.

Net migration: +620^[5]
Moved in: 12,845
Moved out: 12,225

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 2
Elementary: 1
Middle: 1
High: 0

Albert Hill Middle
Middle · Grades 6–8 · Richmond City Public Schools
494 students
Lois Harrison-Jones Elementary
Elementary · Grades PK–5 · Richmond City Public Schools
232 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield3.3%

Net yield (after ~40% expenses)2.0%

Annual rent$21,075

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$3,278

Loan principal$518,544

Down payment$129,636

Total interest paid$661,374

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio2.48

Monthly cost to own$4,358

Monthly rent$1,756

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 54th percentile^[1]
Rental yield: 0th percentile^[2]
Property tax: 99th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23221?: The typical home in 23221 is worth $648,180, based on the Zillow Home Value Index.
Are home values rising in 23221?: Home values in 23221 are up 1.9% over the past year, and up 6.2% a year over five years.
What is the typical rent in 23221?: A typical home in 23221 rents for about $1,756 a month, a gross rental yield of 3.3%.
What is the property tax rate in 23221?: The effective property tax rate in 23221 is 1.0% — roughly $6,505 a year on a typical home.
Who lives in 23221?: ZIP code 23221 has a population of 14,402 and a median household income of $99,816.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

23059 vs 23221 →
Glen Allen CDP, VA
Typical home
$629,787
Gross yield
4.0%
23129 vs 23221 →
VA
Typical home
$666,579
Gross yield
—
23120
VA
Typical home
$607,709
Gross yield
5.5%
23226
Richmond, VA
Typical home
$584,093
Gross yield
4.4%
23113
Midlothian CDP, VA
Typical home
$714,688
Gross yield
3.3%
23838
VA
Typical home
$565,665
Gross yield
—

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Pit ZIP 23221 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23221

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