23231, Henrico, VA

The 23231 zip code of Henrico, VA has a population of about 204,000 people and a median home value of $225,000. The home equity in this zip code is about $92,000 which is about average for the Richmond metropolitan area. The home prices in this zip code have been increasing at a rate of 2.5% annually over the past five years. This rate is faster than the national average rate of 1.9% and the Richmond metropolitan area's rate of 2%.

One reason for the increase in home prices in this zip code may be due to its close proximity to downtown Richmond and other major economic centers. Additionally, Henrico County has been experiencing strong job growth over the past few years, which may also contribute to the increase in home values. Another factor that may be contributing to the increase in home values is low interest rates – currently at 3.25%. This makes it more affordable for buyers to purchase homes and invest their money into them instead of paying high interest rates on loans or saving up for a down payment on a house.