Market Intelligence · VA / Henrico

Henrico, VA 23238 Housing Market

The typical home value in Henrico, VA 23238 is $497,754, up 3.5% over the past year. Median list prices stand at $606,200, with homes spending a median of 44 days on market.

Updated September 2026Median value$498K

The median home value in Henrico, VA 23238 is $498K as of September 2026, up 3.5% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 23238 range

$458K to $538K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+3.5% over 12 months

Sep 2025$481K

Low $481KHigh $498K

Sep 2026$498K

The numbers

What is the 23238 housing market like?

As of September 2026

Typical home value

$498K

3.5%YoY

Median list price

$606K

0.3%MoM

Days on market

10.0%MoM

Homes for sale

21.4%MoM

Price cuts

16.7%

21.7%MoM

New listings

112.5%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

23238 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23238 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 23238 rose 3.5%, per the Zillow Home Value Index.

Will home prices drop in 23238?

Zillow's forecast does not call for a drop: it expects typical home values in 23238 to rise 2.0% by September 2027, after a 3.5% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 23238 home prices compare?

23238$497,754
Henrico$357,740
Virginia$328,255
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Henrico: 7 ZIPs; Virginia: 757 ZIPs; United States: 26,262 ZIPs).

Context

September 2026 shows 51 homes for sale in the ZIP, with 34 new listings added recently. The median list price of $606,200 sits above the typical home value, which has grown 3.5% annually. Homes are spending 44 days on market on average, a moderate timeframe. About 16.7% of listings have seen a price cut. For sellers, this mix suggests a market where pricing matters, especially if your home sits above local norms.

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Down payment20% · $99,551

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Common questions

What people ask us.

What is the typical home value in 23238?

The typical home value is $497,754, up 3.5% over the past year as of September 2026.

How long do homes stay on market here?

Homes spend a median of 44 days on market in this ZIP code.

What share of homes have had their price reduced?

About 16.7% of active listings have received a price cut as of September 2026.

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