How much is a home worth in ZIP code 23227?

The typical home in 23227 is worth $397,809, based on the Zillow Home Value Index.

Are home values rising in 23227?

Home values in 23227 are up 1.3% over the past year, and up 5.3% a year over five years.

What is the typical rent in 23227?

A typical home in 23227 rents for about $1,442 a month, a gross rental yield of 4.4%.

What is the property tax rate in 23227?

The effective property tax rate in 23227 is 0.8% — roughly $3,191 a year on a typical home.

ZIP code 23227 has a population of 24,925 and a median household income of $69,187.

HousingHandbookReference data

…

U.S. ZIP Code · VA23227

Henrico County · Richmond, VA

Typical home value

$397,809^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.3%
5-year / yr: +5.3%
10-year / yr: +6.4%

Relative price

vs U.S.: +40.0%
vs metro: +6.9%
vs state: +21.2%

Price history

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

The typical home in 23227 is worth $397,809 — 6.9% above the Richmond, VA median. Over the past year, values have risen 1.3%. Homes here rent for a typical $1,442 a month — a 4.4% 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: $1,442^[2]
Gross yield: 4.4%^[2]
Cap rate: 2.6%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $3,191^[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: 24,925^[3]
Median household income: $69,187^[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: 10
Elementary: 3
Middle: 2
High: 2

Henrico High
High · Grades 9–12 · Henrico County Public Schools
1,310 students
L. Douglas Wilder Middle
Middle · Grades 6–8 · Henrico County Public Schools
769 students
John Marshall High
High · Grades 9–12 · Richmond City Public Schools
622 students
Henderson Middle
Middle · Grades 6–8 · Richmond City Public Schools
450 students
Linwood Holton Elementary
Elementary · Grades PK–5 · Richmond City Public Schools
439 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 yield4.4%

Net yield (after ~40% expenses)2.6%

Annual rent$17,309

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$2,012

Loan principal$318,247

Down payment$79,562

Total interest paid$405,907

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 ratio1.81

Monthly cost to own$2,608

Monthly rent$1,442

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: 23rd percentile^[1]
Rental yield: 16th percentile^[2]
Property tax: 88th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23227?: The typical home in 23227 is worth $397,809, based on the Zillow Home Value Index.
Are home values rising in 23227?: Home values in 23227 are up 1.3% over the past year, and up 5.3% a year over five years.
What is the typical rent in 23227?: A typical home in 23227 rents for about $1,442 a month, a gross rental yield of 4.4%.
What is the property tax rate in 23227?: The effective property tax rate in 23227 is 0.8% — roughly $3,191 a year on a typical home.
Who lives in 23227?: ZIP code 23227 has a population of 24,925 and a median household income of $69,187.

#Comparable ZIPs

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

23111 vs 23227 →
Mechanicsville CDP, VA
Typical home
$397,646
Gross yield
6.6%
23236 vs 23227 →
Rockwood CDP, VA
Typical home
$394,311
Gross yield
5.8%
23065
VA
Typical home
$386,146
Gross yield
—
23063
Goochland CDP, VA
Typical home
$409,506
Gross yield
—
23832
VA
Typical home
$411,967
Gross yield
5.8%
23831
Chester CDP, VA
Typical home
$382,629
Gross yield
5.5%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 23227 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23227

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