ZIP Code · VA

ZIP 23112

Pop. 57,016·Chesterfield County·91st most expensive ZIP in Virginia
Median rent (all units)
$2,054/mo
Year-over-Year
+4.2%
Month-over-Month
+0.1%
vs US Median
+$122
Reported rents
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 23112 · $2,054
More expensive than 64% of US ZIP codes · National median $1,932/mo
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Medians by bedroom

Rent by unit size

Studio
$1,720
1 BR
$1,800
2 BR
$1,980
3 BR
$2,480
4 BR+
$3,050
Research median
$1,980/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

February. Asking rents in ZIP 23112 usually run 1% below trend in February and 1.3% above it in July, about $47 a month apart at today's median. Based on 10 years of data.

Compared with the peak

Rent in ZIP 23112 is 0.2% below its high of $2,058 in June 2026, at $2,054 as of September 2026.

Past year vs. the rest of Virginia

Rent in ZIP 23112 changed +4.2% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 23112 rose 42.5% while median household income rose 18.6% ($98,190 to $116,465). Rent outpaced income.

Since before the pandemic

Rent in ZIP 23112 is 52.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($116,465) is $2,912 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,480); a 4-bedroom is $3,050.

Rank in Midlothian

2nd cheapest of 3 ZIP codes in Midlothian.

Cheaper nearby

ZIP 23236, 5 miles away, rents for 16% less ($1,723/mo), about $4,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 23112. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost
$24,648/yr
At $2,054/mo median
Location
StateVA
CountyChesterfield County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.2% YoY, +0.1% MoM), not inventory.
Demographics

Who lives here

ZIP 23112 (Midlothian, VA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 52.5% of residents hold a bachelor's degree or higher.

Population
57,016
Median income
$116,465
Median age
39.6
Renters
19.4%
Age distribution
25.2%
18.2%
28.6%
12.3%
15.6%
Under 1825.2%
18–3418.2%
35–5428.6%
55–6412.3%
65+15.6%
Gender
49.2%
50.8%
Male49.2%
Female50.8%
Race & ethnicity
70.1%
13.3%
White70.1%
Black13.3%
Hispanic6.7%
Asian4.8%
Other5.1%
Education (25+)
16.9%
27.3%
52.5%
No HS diploma3.3%
HS diploma16.9%
Some college27.3%
Bachelor's+52.5%
Housing tenure
80.6%
19.4%
Owner80.6%
Renter19.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 23112 in Midlothian, VA has changed in 5 years

Rent
$1,486 → $2,054
up 38.2%
Income
$105,458 → $116,465
up 10.4%
Population
54,453 → 57,016
up 4.7%
Renter share
20.9% → 19.4%
-1.5 pts
Bachelor's+
51.1% → 52.5%
+1.4 pts
Median age
38 → 39.6
+1.6 yrs

Rent in ZIP 23112 in Midlothian, VA has increased 38.2% since 2021, going from about $1,486 per month to roughly $2,054 today. Local incomes tracked alongside that move, going from a median of $105,458 in 2021 to $116,465 more recently. Rent outpaced income growth by roughly 27.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 54,453 to 57,016 between 2021 and 2024, a 4.7% change. About 19.4% of households rent today, against 20.9% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 23112 in Midlothian, VA market of 2021.

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About renting in ZIP 23112

Last updated: October 17, 2026

ZIP code 23112 covers Midlothian, VA. The median rent here is $2,054/mo as of October 2026. A 1-bedroom rents for a median of $1,800/mo. A 2-bedroom rents for a median of $1,980/mo.

At 21% of local median household income ($116,465/yr), ZIP 23112 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23112?

To keep rent at or below 30% of gross income, you would need to earn at least $82,000/year (about $39/hour full-time) to afford the median rent of $2,054/mo in ZIP 23112. The local median household income is $116,465/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 23112?

Rent in ZIP 23112 has risen 4.2% over the past year as of September 2026. It sits 0.2% below its high of $2,058 in June 2026.

When is the cheapest time to rent in ZIP 23112?

Asking rents in ZIP 23112 are usually lowest in February, about 1% below their yearly trend, and highest in July, about 1.3% above it. At today's median that is a gap of roughly $47 a month. This pattern comes from 10 years of Zillow rent data.

Has rent outpaced income in ZIP 23112?

Yes. From 2019 to 2024, rent in ZIP 23112 rose 42.5% while median household income rose 18.6%, from $98,190 to $116,465. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 23112 compare to other ZIPs in Virginia?

ZIP 23112 is in the middle among Virginia ZIP codes for rent, ranking #91 of 194 at $2,054/mo. Over the year to September 2026, rent in ZIP 23112 changed +4.2%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.

How does ZIP 23112 compare to the rest of Midlothian?

At $2,054/mo, ZIP 23112 is $26 above the Midlothian citywide median of $2,028/mo. It is the 2nd cheapest of 3 ZIP codes in Midlothian.
Income Affordability
21%
VERY AFFORDABLE

At $2,054/mo, rent takes ~21% of ZIP 23112's median household income ($116,465/yr). The standard benchmark is 30%.

ZIP 23112 21%Benchmark 30%
State income tax2–5.75%
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Public schools near ZIP 23112 (Midlothian, VA)

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