ZIP 23220
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12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in ZIP 23220 usually run 1.2% below trend in October and 1.1% above it in April, about $41 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 23220 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 23220 changed +4.4% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in ZIP 23220 rose 33.2% while median household income rose 38.1% ($44,461 to $61,381). Income kept ahead of rent.
Rent in ZIP 23220 is 41.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 5 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($61,381) is $1,535 a month. That is less than HUD's Fair Market Rent for a studio ($1,750).
7th cheapest of 10 ZIP codes in Richmond.
ZIP 23219, 2 miles away, rents for 13% less ($1,530/mo), about $2,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 23220. 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.
Who lives here
ZIP 23220 (Richmond, VA) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 58.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 23220 in Richmond, VA has changed in 5 years
Since 2021, the typical rent in ZIP 23220 in Richmond, VA has increased from $1,296 to $1,763, a 36.0% change over five years. Median household income rose from $47,532 to $61,381 between 2021 and 2024, a 29.1% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 2.1% since 2021, moving from about 33,965 residents to roughly 34,671. College-educated residents now make up 58.5% of adults here, versus 60.9% in 2021. Taken together, the five-year picture in ZIP 23220 in Richmond, VA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 23220
Last updated: October 17, 2026
ZIP code 23220 covers Richmond, VA. The median rent here is $1,763/mo as of October 2026. A 1-bedroom rents for a median of $1,830/mo. A 2-bedroom rents for a median of $2,010/mo.
At 34% of local median household income ($61,381/yr), ZIP 23220 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.4% over the past year.
Frequently asked questions
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How does ZIP 23220 compare to the rest of Richmond?
At $1,763/mo, rent takes ~34% of ZIP 23220's median household income ($61,381/yr). The standard benchmark is 30%.
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