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ZIP Code · VA

ZIP 23116

Pop. 34,188·Hanover County·73rd most expensive ZIP in Virginia
Median rent (all units)
$2,204/mo
Year-over-Year
Stable
Month-over-Month
+3.7%
vs US Median
+$239
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 23116 · $2,204
More expensive than 70% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,920
1 BR
$2,000
2 BR
$2,200
3 BR
$2,750
4 BR+
$3,390
Research median
$2,200/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: July 20, 2026

Annual cost
$26,448/yr
At $2,204/mo median
Location
StateVA
CountyHanover County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +3.7% MoM), not inventory.
Demographics

Who lives here

ZIP 23116 (Mechanicsville, VA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 53.8% of residents hold a bachelor's degree or higher.

Population
34,188
Median income
$141,711
Median age
41.7
Renters
9.2%
Age distribution
25.4%
14.8%
28.9%
15.2%
15.7%
Under 1825.4%
18–3414.8%
35–5428.9%
55–6415.2%
65+15.7%
Gender
51.5%
48.5%
Male51.5%
Female48.5%
Race & ethnicity
82.4%
White82.4%
Black7%
Hispanic2.9%
Asian3.8%
Other3.8%
Education (25+)
18%
24.4%
53.8%
No HS diploma3.7%
HS diploma18%
Some college24.4%
Bachelor's+53.8%
Housing tenure
90.8%
Owner90.8%
Renter9.2%

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

2021 vs 2026

How ZIP 23116 in Mechanicsville, VA has changed in 5 years

Income
$124,063 → $141,711
up 14.2%
Population
32,855 → 34,188
up 4.1%
Renter share
11.3% → 9.2%
-2.1 pts
Bachelor's+
50.2% → 53.8%
+3.6 pts

Median household income rose from $124,063 to $141,711 between 2021 and 2024, a 14.2% shift. The population has grown by 4.1% since 2021, moving from about 32,855 residents to roughly 34,188. Renters now make up 9.2% of households, compared with 11.3% five years ago. College-educated residents now make up 53.8% of adults here, versus 50.2% in 2021.

Community

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Local insights

Tips for renters in ZIP 23116

About renting in ZIP 23116

Last updated: July 20, 2026

ZIP code 23116 covers Mechanicsville, VA. The median rent here is $2,204/mo as of July 2026. A 1-bedroom rents for a median of $2,000/mo. A 2-bedroom rents for a median of $2,200/mo.

At 19% of local median household income ($141,711/yr), ZIP 23116 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23116?

As of July 20, 2026, the median monthly rent in ZIP 23116 (Mechanicsville, VA) is $2,204. This is based on aggregated data from public sources and community submissions.

How does ZIP 23116 rent compare to the US average?

ZIP 23116's median rent of $2,204/mo is $239 (12%) above the US national median of $1,965/mo.

How does ZIP 23116 compare to other ZIPs in Virginia?

ZIP 23116 falls in the middle range for Virginia, ranking #73 out of 198 ZIPs at $2,204/mo.

How much income do you need to rent in ZIP 23116?

To keep rent at or below 30% of gross income, you would need to earn at least $88,000/year (~$42/hour full-time) to afford the median rent of $2,204/mo in ZIP 23116. The local median household income is $141,711/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 23116?

Rent in ZIP 23116 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 23116 an affordable place to rent?

ZIP 23116 is considered very affordable for renters. At $2,204/mo, rent takes approximately 19% of the local median household income ($141,711/yr). The standard benchmark is 30%. ZIP 23116 falls comfortably within that range.

What percentage of ZIP 23116 residents rent vs. own?

According to Census data, approximately 9.2% of ZIP 23116 households are renters, while 90.8% are owner-occupied. ZIP 23116 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 23116 compare to the rest of Mechanicsville?

ZIP 23116 is pricier than Mechanicsville as a whole. At $2,204/mo, it's $65 above the Mechanicsville citywide median of $2,139/mo.

When was rent data for ZIP 23116 last updated?

Rent data for ZIP 23116 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $2,204/mo, rent takes ~19% of ZIP 23116's median household income ($141,711/yr). The standard benchmark is 30%.

ZIP 23116 19%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23116 (Mechanicsville, VA)

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