Real Estate Investing in Richmond, Virginia (23226)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23226 (Richmond, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.1% vacancy may signal weakening demand.
What’s happening in Richmond, VA (23226)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23226 Richmond
The 23226 ZIP covers a section of Richmond that demands careful diligence. Prices near $593K look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 23226 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader VA picture, 23226 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 23226 includes headwinds that any investor should price in. Income distribution skews lower than Richmond averages, and tenant stability requires active management.
Strategically, 23226 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Richmond:
Property Strategy for 23226
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $368,394 | $2,110 | 4.1% | +6.8% | $184,197 |
| 3BR | $502,008 | $2,640 | 3.8% | +7.1% | $167,336 |
| 4BR | $762,995 | $3,260 | 3.1% | +7.5% | $190,749 |
| 5BR | $1,911,876 | — | — | +10.7% | $382,375 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23226 Compare?
| Metric | 23226 | Richmond | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $593,297 | $141,872 | N/A | $403,170 |
| 5-Year CAGR | 5.6% | 5.7% | N/A | 6.4% |
| Avg Rent | $2,162 | $1,732 | N/A | - |
| Cap Rate | 2.8% | 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 23226 (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 | $593,297 |
| Monthly Rent | $2,162 |
| Price-to-Rent | 22.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +8.0% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +6.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 23226
Population: 15,764
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 23226
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Thomas Jefferson High
Albert Hill Middle
Charles M. Johnson Elementary
Three Chopt Elementary
Jackson Davis Elementary
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 1,073 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the median home value in Richmond, VA?
The median home value in Richmond, VA is roughly $593K. That puts it reasonable relative to the VA statewide average.
Should investors worry about vacancy in Richmond, VA?
Rental vacancy in Richmond, VA is elevated. Investors should budget normal turnover but not chronic empty units.
Are renters plentiful in Richmond, VA?
Tenant demand in Richmond, VA is solid. The local workforce $2,162/mo rents across most rental classes.
Does house hacking make sense in Richmond, VA?
The house hack math a challenging in Richmond, VA. Owner-occupant buyers benefit from the $2,162/mo rents and $593K home values.
Is Richmond, VA good for landlords?
Landlord-friendliness in Richmond, VA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 23226 now. You don’t know where it ranks.
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How 23226 ranks in Richmond, VA
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