The story of this market
The typical home in ZIP 23221 sells for about $667,000, or $333 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 25 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,518 a month.
ZIP 23221 — Richmond
The 23221 housing market remains resilient with high demand for historic properties, though price growth has moderated compared to previous years. Limited inventory continues to support a strong seller's market, particularly for well-maintained homes in prime locations. Buyers are increasingly selective, focusing on move-in-ready properties as interest rates remain a factor in affordability.
This ZIP is ideal for established families and professionals who value historic character, walkability, and proximity to city amenities. It is less suited for investors seeking high-yield cash flow due to the high entry price point.
Median prices moved up 2.1% year over year.
Homes spend a median of 25 days on market with 2.8 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 6.4% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 23221, Richmond City, VA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 23221 area are generally lower than the Richmond city average, with property crime being the primary concern. The area is considered one of the safer residential pockets within the city limits.
The area is served by Richmond Public Schools, with several highly regarded elementary and middle schools located within or adjacent to the ZIP code. School quality is a primary driver for family buyers in this neighborhood.
The area has low exposure to major natural hazards, though localized flooding can occur in low-lying areas near the James River. Standard homeowners insurance is readily available.
Economic momentum is driven by proximity to the VCU campus and the growing retail and dining corridor of Carytown. Infrastructure improvements focus on urban walkability and historic preservation.
Property taxes are assessed by the City of Richmond based on fair market value. The city maintains a uniform real estate tax rate applied to all residential parcels, with no additional MUD or PID districts.
Residents enjoy a short commute to downtown Richmond and the VCU medical/academic core, typically under 15 minutes by car. Public transit options are available via GRTC bus lines along major corridors.
The ZIP features extensive access to Byrd Park, the James River Park System, and the Maymont estate. Carytown provides a dense, walkable district of independent shops, restaurants, and the historic Byrd Theatre.
The rental market is characterized by high demand from students and young professionals, leading to low vacancy rates. Short-term rental activity is regulated by city ordinances.
The economy is anchored by VCU Health, state government offices, and a robust local service and hospitality sector. The area benefits from a stable employment base in education and healthcare.
The area is well-served by major arterial roads like Cary Street and Boulevard, providing efficient access to the downtown core and I-95/I-64 interchanges.
Development is largely constrained by historic district designations, focusing on adaptive reuse and small-scale infill projects.
The City of Richmond Assessor's office conducts annual reassessments based on market sales data.
Parcels are subject to standard city municipal taxes; no special MUD or PID districts are present.
Property insurance premiums are stable, though proximity to the James River may require flood insurance for specific parcels.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Topgolf Richmond4.32 mi
- Dave & Buster's Glen Allen - Richmond49.4 mi
- K1 Speed Richmond4.56.8 mi
- Urban Air Trampoline and Adventure Park4.28.1 mi
- Surge Adventure Park4.15.7 mi
- Greater Richmond Convention Center4.52.8 mi
- Lewis Ginter Botanical Garden4.75.1 mi
- Maymont4.81.2 mi
- Richmond Raceway4.54.5 mi
- Topgolf Richmond4.32 mi
- Virginia Museum of Fine Arts4.80.8 mi
- Lewis Ginter Botanical Garden4.75.1 mi
- Science Museum of Virginia4.71.5 mi
- Movieland At Boulevard Square4.31.7 mi
- Deep Run Park & Recreation Center4.77.7 mi
- Virginia Museum of Fine Arts4.80.8 mi
- Lewis Ginter Botanical Garden4.75.1 mi
- Science Museum of Virginia4.71.5 mi
- Children's Museum of Richmond4.61.4 mi
- Virginia State Capitol4.63 mi
- Lewis Ginter Botanical Garden4.75.1 mi
- Maymont4.81.2 mi
- Deep Run Park & Recreation Center4.77.7 mi
- Taylor Farm Park4.811 mi
- Bryan Park4.53.4 mi
- The Lilly Pad4.511.7 mi
- Hopewell City Marina4.419.5 mi
- Topgolf Richmond4.32 mi
- Drive Shack4.812.2 mi
- Independence Golf Club4.610.8 mi
- Belmont Golf Course4.25 mi
- The Dominion Club4.512.3 mi
- Short Pump Town Center4.510.3 mi
- Chesterfield Towne Center4.27.2 mi
- Publix Super Market at Carytown Exchange4.50.6 mi
- Willow Lawn4.42.4 mi
- Richmond International Airport4.39.2 mi
- Club Level Grill4.29 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large public park with lakes and walking trails.
Historic district with diverse dining and retail.
100-acre Victorian estate and public park.
Extensive riverfront trails and recreation areas.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.