Market Intelligence · VA / Richmond

Richmond, VA 23221 Housing Market

The typical home value in Richmond's 23221 ZIP code is $645,519, up 3.2% over the past year. The median list price stands at $763,738, with homes spending a median of 28 days on market as of September 2026.

Updated September 2026Median value$646K

The median home value in Richmond, VA 23221 is $646K as of September 2026, up 3.2% 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 23221 range

$594K to $697K

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

+3.2% over 12 months

Sep 2025$625K

Low $625KHigh $646K

Sep 2026$646K

The numbers

What is the 23221 housing market like?

As of September 2026

Typical home value

$646K

3.2%YoY

Median list price

$764K

9.1%MoM

Days on market

39.1%MoM

Homes for sale

10.5%MoM

Price cuts

15.4%

103.4%MoM

New listings

25.0%MoM

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

The outlook

23221 housing market forecast 2027

+1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 23221 to rise 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 23221 rose 3.2%, per the Zillow Home Value Index.

Will home prices drop in 23221?

Zillow's forecast does not call for a drop: it expects typical home values in 23221 to rise 1.7% by September 2027, after a 3.2% 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 23221 home prices compare?

23221$645,519
Richmond$379,332
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 (Richmond: 14 ZIPs; Virginia: 757 ZIPs; United States: 26,262 ZIPs).

Context

Richmond's 23221 ZIP has 21 homes for sale and 20 new listings as of September 2026. The median time to sell remains modest at 28 days. However, 15.4% of listings have seen a price cut, suggesting some properties are not moving at asking price despite the year-over-year value gain of 3.2%. For sellers, the active supply and price-cut share point to a market where condition and pricing strategy matter more than they did a year ago.

Monthly payment

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Home price

Down payment20% · $129,104

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Common questions

What people ask us.

What is the typical home value in 23221?

The typical home value in this area is $645,519 as of September 2026, representing a 3.2% increase over the past year.

How many homes are currently for sale in 23221?

There are 21 homes for sale in this ZIP code as of September 2026, with 20 new listings.

How long do homes typically stay on the market here?

The median days on market is 28 as of September 2026.

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