How much is a home worth in ZIP code 23831?

The typical home in 23831 is worth $382,629, based on the Zillow Home Value Index.

Are home values rising in 23831?

Home values in 23831 are up 1.7% over the past year, and up 5.6% a year over five years.

What is the typical rent in 23831?

A typical home in 23831 rents for about $1,746 a month, a gross rental yield of 5.5%.

What is the property tax rate in 23831?

The effective property tax rate in 23831 is 0.7% — roughly $2,821 a year on a typical home.

ZIP code 23831 has a population of 39,529 and a median household income of $95,750.

HousingHandbookReference data

…

U.S. ZIP Code · VA23831

Chesterfield County · Richmond, VA

Typical home value

$382,629^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.7%
5-year / yr: +5.6%
10-year / yr: +5.9%

Relative price

vs U.S.: +34.7%
vs metro: +2.9%
vs state: +16.5%

Price history

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

The typical home in 23831 is worth $382,629 — 2.9% above the Richmond, VA median. Over the past year, values have risen 1.7%. Homes here rent for a typical $1,746 a month — a 5.5% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

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

Monthly rent: $1,746^[2]
Gross yield: 5.5%^[2]
Cap rate: 3.3%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $2,821^[3]

#Climate risk

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

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

#Who lives here

Population: 39,529^[3]
Median household income: $95,750^[3]

#Migration

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

Net migration: +575^[5]
Moved in: 12,065
Moved out: 11,490

Schools

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

Public schools: 8
Elementary: 4
Middle: 1
High: 2

Thomas Dale High
High · Grades 9–12 · Chesterfield County Public Schools
2,570 students
Carver Middle
Middle · Grades 6–8 · Chesterfield County Public Schools
1,013 students
C.E. Curtis Elementary
Elementary · Grades PK–5 · Chesterfield County Public Schools
772 students
Ecoff Elementary
Elementary · Grades PK–5 · Chesterfield County Public Schools
757 students
C.C. Wells Elementary
Elementary · Grades PK–5 · Chesterfield County Public Schools
582 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 yield5.5%

Net yield (after ~40% expenses)3.3%

Annual rent$20,947

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$1,935

Loan principal$306,104

Down payment$76,526

Total interest paid$390,418

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 ratio1.43

Monthly cost to own$2,490

Monthly rent$1,746

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: 34th percentile^[1]
Rental yield: 51st percentile^[2]
Property tax: 76th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23831?: The typical home in 23831 is worth $382,629, based on the Zillow Home Value Index.
Are home values rising in 23831?: Home values in 23831 are up 1.7% over the past year, and up 5.6% a year over five years.
What is the typical rent in 23831?: A typical home in 23831 rents for about $1,746 a month, a gross rental yield of 5.5%.
What is the property tax rate in 23831?: The effective property tax rate in 23831 is 0.7% — roughly $2,821 a year on a typical home.
Who lives in 23831?: ZIP code 23831 has a population of 39,529 and a median household income of $95,750.

#Comparable ZIPs

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

23065 vs 23831 →
VA
Typical home
$386,146
Gross yield
—
23842 vs 23831 →
Disputanta CDP, VA
Typical home
$375,498
Gross yield
—
23225
Richmond, VA
Typical home
$371,982
Gross yield
4.8%
23236
Rockwood CDP, VA
Typical home
$394,311
Gross yield
5.8%
23111
Mechanicsville CDP, VA
Typical home
$397,646
Gross yield
6.6%
23227
Chamberlayne CDP, VA
Typical home
$397,809
Gross yield
4.4%

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Compare ZIPs

Pit ZIP 23831 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23831

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