23075, Henrico, VA

Henrico County, VA is located in the Richmond Metropolitan Statistical Area. The 23075 zip code covers a total area of 9.5 square miles and has a population of approximately 237,000 people. Henrico County has a median household income of $87,500 and a median home value of $269,900.

The average home price in Henrico County increased by 5% from January to March 2017 when compared to the same period in 2016. This increase was driven by an increase in the number of homes sold (up 16%) as well as an increase in the average home value (up 7%). In March 2017, there were 97 homes sold within the 23075 zip code which accounted for 31% of all homes sold within Henrico County during that month.

Home equity is important for many reasons including helping individuals pay down debt, investing for future growth, and providing some financial cushion should unexpected expenses arise. Home equity can also be used to purchase additional property or withdraw cash from an account without penalty interest rates. The percentage of households with at least one outstanding loan on their primary residence that are current on their mortgage obligations decreased from 81% in December 2016 to 78% in March 2017 according to data released by the Federal Reserve Bank of St Louis. This decrease may be indicative of improving economic conditions and increased consumer confidence which could lead to more homeowners refinancing or taking out new loans to boost their equity levels.