Real Estate Investing in Richmond, Virginia (23222)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23222 (Richmond, VA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.4% vacancy may signal weakening demand.
What’s happening in Richmond, VA (23222)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23222 Richmond
Not every below-median market is a bargain. Richmond's 23222 ZIP reflects signals that favor experienced operators who can absorb the risk $285K pricing implies.
The 23222 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 23222 and stronger Richmond ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A resilient renter share of 46% in 23222 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Richmond's stable or hybrid ZIPs before stepping into 23222. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Richmond:
Property Strategy for 23222
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $204,906 | $1,540 | 5.4% | +13.4% | $102,453 |
| 3BR | $265,950 | $1,950 | 5.3% | +9.6% | $88,650 |
| 4BR | $310,991 | $2,410 | 5.6% | +7.7% | $77,748 |
| 5BR | $385,733 | — | — | +7.0% | $77,147 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23222 Compare?
| Metric | 23222 | Richmond | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $284,838 | $141,872 | N/A | $403,170 |
| 5-Year CAGR | 7.1% | 5.7% | N/A | 6.4% |
| Avg Rent | $1,714 | $1,732 | N/A | - |
| Cap Rate | 4.7% | 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 23222 (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 | $284,838 |
| Monthly Rent | $1,714 |
| Price-to-Rent | 13.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.2% |
| Cap Rate | 4.7% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +9.9% ▲ |
🏠 Rent Trends
| 1-Year | +12.1% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.7%). 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 23222
Population: 26,809
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 23222
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Armstrong High
Franklin Military Academy
John Marshall High
Fairfield Court Elementary
Martin Luther King Jr. Early Learning Center
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
Should investors worry about vacancy in Richmond, VA?
Vacancy in Richmond, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,714/mo.
Is housing expensive in Richmond, VA?
Richmond, VA home values average about $285K. That price point suits investors targeting rentals with $1,714/mo in monthly income.
What type of investing works in Richmond, VA?
A careful cash-flow rentals with hands-on management strategy Richmond, VA best. The market produces measured results for that approach at the $285K price point.
Are tenants stable 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.
Should investors consider Richmond, VA?
With a 3.0/5 investability score, Richmond, VA ranks as a solid market for rental property investors. Median prices of $285K and rents of $1,714/mo drive the underlying numbers.
You know 23222 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23222 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 23222 ranks in Richmond, VA
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