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ZIP Code · VA

ZIP 23220

Part of Richmond, VA
Pop. 34,671·Richmond City·131st most expensive ZIP in Virginia
Median rent (all units)
$1,807/mo
Year-over-Year
+17.4%
Month-over-Month
-2.5%
vs US Median
-$158
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 23220 · $1,807
More affordable than 51% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,750
1 BR
$1,830
2 BR
$2,010
3 BR
$2,520
4 BR+
$3,100
Research median
$2,010/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
$21,684/yr
At $1,807/mo median
Location
StateVA
CountyRichmond City
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 17.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+17.4% YoY, -2.5% MoM), not inventory.
Demographics

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.

Population
34,671
Median income
$61,381
Median age
29.5
Renters
66.4%
Age distribution
52.7%
18.5%
Under 1810.6%
18–3452.7%
35–5418.5%
55–647.5%
65+10.6%
Gender
47.2%
52.8%
Male47.2%
Female52.8%
Race & ethnicity
56.4%
30.2%
White56.4%
Black30.2%
Hispanic6%
Asian3.1%
Other4.3%
Education (25+)
14.5%
21.4%
58.5%
No HS diploma5.6%
HS diploma14.5%
Some college21.4%
Bachelor's+58.5%
Housing tenure
33.6%
66.4%
Owner33.6%
Renter66.4%

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

2021 vs 2026

How ZIP 23220 in Richmond, VA has changed in 5 years

Rent
$1,282 → $1,807
up 41.0%
Income
$47,532 → $61,381
up 29.1%
Population
33,965 → 34,671
up 2.1%
Renter share
66% → 66.4%
+0.4 pts
Bachelor's+
60.9% → 58.5%
-2.4 pts
Median age
27.2 → 29.5
+2.3 yrs

Since 2021, the typical rent in ZIP 23220 in Richmond, VA has increased from $1,282 to $1,807, a 41.0% 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.

Community

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Local insights

Tips for renters in ZIP 23220

About renting in ZIP 23220

Last updated: July 20, 2026

ZIP code 23220 covers Richmond, VA. The median rent here is $1,807/mo as of July 2026. A 1-bedroom rents for a median of $1,830/mo. A 2-bedroom rents for a median of $2,010/mo.

At 35% of local median household income ($61,381/yr), ZIP 23220 ranks as moderate compared to the national benchmark of 30%. Rents have increased 17.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23220?

As of July 20, 2026, the median monthly rent in ZIP 23220 (Richmond, VA) is $1,807. This is based on aggregated data from public sources and community submissions.

How does ZIP 23220 rent compare to the US average?

ZIP 23220's median rent of $1,807/mo is $158 (8%) below the US national median of $1,965/mo.

How does ZIP 23220 compare to other ZIPs in Virginia?

ZIP 23220 falls in the middle range for Virginia, ranking #131 out of 198 ZIPs at $1,807/mo.

How much income do you need to rent in ZIP 23220?

To keep rent at or below 30% of gross income, you would need to earn at least $72,000/year (~$35/hour full-time) to afford the median rent of $1,807/mo in ZIP 23220. The local median household income is $61,381/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23220?

Rent in ZIP 23220 has increased 17.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23220 an affordable place to rent?

ZIP 23220 is considered moderate for renters. At $1,807/mo, rent takes approximately 35% of the local median household income ($61,381/yr). The standard benchmark is 30%. ZIP 23220 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23220 residents rent vs. own?

According to Census data, approximately 66.4% of ZIP 23220 households are renters, while 33.6% are owner-occupied. With a majority renter population, ZIP 23220 has a strong rental market.

How does ZIP 23220 compare to the rest of Richmond?

ZIP 23220 is pricier than Richmond as a whole. At $1,807/mo, it's $125 above the Richmond citywide median of $1,682/mo.

When was rent data for ZIP 23220 last updated?

Rent data for ZIP 23220 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
35%
MODERATE

At $1,807/mo, rent takes ~35% of ZIP 23220's median household income ($61,381/yr). The standard benchmark is 30%.

ZIP 23220 35%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23220 (Richmond, VA)

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