ZIP 23224
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in ZIP 23224 usually run 0.5% below trend in October and 0.6% above it in June, about $17 a month apart at today's median. Based on 9 years of data.
Rent in ZIP 23224 is at its highest level since Zillow's records here began in December 2015.
Rent in ZIP 23224 changed +3.3% 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 23224 rose 38.2% while median household income rose 27.8% ($39,485 to $50,475). Rent outpaced income.
Rent in ZIP 23224 is 42.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($50,475) is $1,262 a month. That is less than HUD's Fair Market Rent for a studio ($1,340).
2nd cheapest of 10 ZIP codes in Richmond.
From Zillow's monthly rent index (ZORI) for ZIP 23224. 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 23224 (Richmond, VA) is majority renter-occupied, has a median income below the national average, 22.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 23224 in Richmond, VA has changed in 5 years
Since 2021, the typical rent in ZIP 23224 in Richmond, VA has increased from $1,128 to $1,520, a 34.8% change over five years. Household income in the area moved from $42,929 to $50,475 across the same window, up 17.6% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 4.5% since 2021, moving from about 38,830 residents to roughly 40,575. College-educated residents now make up 22.7% of adults here, versus 19.4% in 2021. Reading these numbers side by side helps frame whether current listings in ZIP 23224 in Richmond, VA look reasonable against where the market sat half a decade ago.
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Tips for renters in ZIP 23224
Last updated: October 17, 2026
ZIP code 23224 covers Richmond, VA. The median rent here is $1,520/mo as of October 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,540/mo.
At 36% of local median household income ($50,475/yr), ZIP 23224 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.3% over the past year.
Frequently asked questions
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How does ZIP 23224 compare to other ZIPs in Virginia?
How does ZIP 23224 compare to the rest of Richmond?
At $1,520/mo, rent takes ~36% of ZIP 23224's median household income ($50,475/yr). The standard benchmark is 30%.
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