How much is a home worth in ZIP code 23223?

The typical home in 23223 is worth $299,257, based on the Zillow Home Value Index.

Are home values rising in 23223?

Home values in 23223 are up 1.9% over the past year, and up 6.6% a year over five years.

What is the typical rent in 23223?

A typical home in 23223 rents for about $1,561 a month, a gross rental yield of 6.3%.

What is the property tax rate in 23223?

The effective property tax rate in 23223 is 0.8% — roughly $2,320 a year on a typical home.

ZIP code 23223 has a population of 54,659 and a median household income of $55,731.

HousingHandbookReference data

…

U.S. ZIP Code · VA23223

Henrico County · Richmond, VA

Typical home value

$299,257^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.9%
5-year / yr: +6.6%
10-year / yr: +8.1%

Relative price

vs U.S.: +5.3%
vs metro: -19.6%
vs state: -8.8%

Price history

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

The typical home in 23223 is worth $299,257 — 19.6% below the Richmond, VA median. Over the past year, values have risen 1.9%. Homes here rent for a typical $1,561 a month — a 6.3% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

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

Monthly rent: $1,561^[2]
Gross yield: 6.3%^[2]
Cap rate: 3.8%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $2,320^[3]

#Climate risk

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

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Very Low
Wildfire: Very Low
Drought: Relatively Moderate
Heat wave: Relatively Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Relatively High

#Who lives here

Population: 54,659^[3]
Median household income: $55,731^[3]

#Migration

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

Net migration: +147^[5]
Moved in: 12,460
Moved out: 12,313

Schools

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

Public schools: 17
Elementary: 9
Middle: 2
High: 2

Fairfield Middle
Middle · Grades 6–8 · Henrico County Public Schools
889 students
Armstrong High
High · Grades 9–12 · Richmond City Public Schools
690 students
Henrico Virtual Academy
Other · Grades K–12 · Henrico County Public Schools
642 students
Harvie Elementary
Elementary · Grades PK–5 · Henrico County Public Schools
530 students
Henry Marsh III Elementary
Elementary · Grades PK–5 · Richmond City Public Schools
523 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 yield6.3%

Net yield (after ~40% expenses)3.8%

Annual rent$18,733

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$1,513

Loan principal$239,405

Down payment$59,851

Total interest paid$305,348

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 ratio1.25

Monthly cost to own$1,957

Monthly rent$1,561

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: 74th percentile^[1]
Rental yield: 84th percentile^[2]
Property tax: 85th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23223?: The typical home in 23223 is worth $299,257, based on the Zillow Home Value Index.
Are home values rising in 23223?: Home values in 23223 are up 1.9% over the past year, and up 6.6% a year over five years.
What is the typical rent in 23223?: A typical home in 23223 rents for about $1,561 a month, a gross rental yield of 6.3%.
What is the property tax rate in 23223?: The effective property tax rate in 23223 is 0.8% — roughly $2,320 a year on a typical home.
Who lives in 23223?: ZIP code 23223 has a population of 54,659 and a median household income of $55,731.

#Comparable ZIPs

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

23110 vs 23223 →
VA
Typical home
$299,132
Gross yield
—
23834 vs 23223 →
Colonial Heights, VA
Typical home
$300,121
Gross yield
6.0%
22437
VA
Typical home
$303,553
Gross yield
—
23840
VA
Typical home
$294,957
Gross yield
—
23894
VA
Typical home
$304,365
Gross yield
—
23083
VA
Typical home
$306,229
Gross yield
—

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Pit ZIP 23223 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23223

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