Real Estate Investing in Richmond, Virginia (23219)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23219 (Richmond, VA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 13.7% of homes vacant — above national norms.
What’s happening in Richmond, VA (23219)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23219 Richmond
The 23219 ZIP covers a section of Richmond that demands careful diligence. Prices near $366K look accessible, but the work to make a deal cash flow is real.
The investment case in 23219 is resilient only for operators who understand what they are buying. A $366K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Looking more closely, 23219 offers a low basis, the region around Richmond has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 23219 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 23219 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Richmond:
Property Strategy for 23219
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $269,741 | $1,560 | 4.2% | +2.5% | $269,741 |
| 2BR | $399,802 | $1,710 | 3.1% | 0.0% | $199,901 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23219 Compare?
| Metric | 23219 | Richmond | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $365,555 | $141,872 | N/A | $403,170 |
| 5-Year CAGR | 1.6% | 5.7% | N/A | 6.4% |
| Avg Rent | $1,582 | $1,732 | N/A | - |
| Cap Rate | 3.4% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23219 (Richmond, VA). Anonymous, moderated, never written by AI.
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Property managers serving Richmond City County
Manage rentals here? List your business →Landmark Property Services Inc. provides property management services, including apartment search and resident services. summary from their website
Peak Property Management offers residential property management and lease-only services in Richmond and surrounding areas. summary from their website
Real Property Management Richmond Metro is a property management company in Richmond, VA, focused on delivering peace of mind. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $365,555 |
| Monthly Rent | $1,582 |
| Price-to-Rent | 19.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 5.0% |
📈 Home Appreciation
| 1-Year | -0.3% ▼ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +1.6% ▲ |
| 10-Year CAGR | +3.4% ▲ |
🏠 Rent Trends
| 1-Year | -2.4% ▼ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 23219
Population: 3,856
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 23219
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Maymont Pre-K Center
Open High
George W. Carver Elementary
William Fox Elementary
Dogwood Middle
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,282 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does a duplex house hack pencil in Richmond, VA?
The house hack math a challenging in Richmond, VA. Owner-occupant buyers benefit from the $1,582/mo rents and $366K home values.
How does Richmond, VA rate as a rental market?
The 2.0/5 investability rating in Richmond, VA reflects its $366K prices and $1,582/mo rents. Investors generally consider it a solid option within VA.
What is the typical renter like in Richmond, VA?
Working renters make up the core of the Richmond, VA tenant base. The pool is reasonable for investors targeting long-term holds.
Does Richmond, VA favor landlords or tenants?
The landlord environment in Richmond, VA is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How tight is the rental market in Richmond, VA?
Rental vacancy in Richmond, VA is elevated. Investors should budget normal turnover but not chronic empty units.
You know 23219 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23219 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 23219 ranks in Richmond, VA
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