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ZIP Code · VA

ZIP 23224

Part of Richmond, VA
Pop. 40,575·Richmond City·171st most expensive ZIP in Virginia
Median rent (all units)
$1,556/mo
Year-over-Year
+5.4%
Month-over-Month
+0.6%
vs US Median
-$409
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 23224 · $1,556
More affordable than 70% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,340
1 BR
$1,400
2 BR
$1,540
3 BR
$1,950
4 BR+
$2,410
Research median
$1,540/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
$18,672/yr
At $1,556/mo median
Location
StateVA
CountyRichmond City
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.4% YoY, +0.6% MoM), not inventory.
Demographics

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.

Population
40,575
Median income
$50,475
Median age
33.9
Renters
63.6%
Age distribution
23.1%
28.7%
24.6%
Under 1823.1%
18–3428.7%
35–5424.6%
55–6411.7%
65+11.9%
Gender
49.3%
50.7%
Male49.3%
Female50.7%
Race & ethnicity
16.1%
59.2%
21.2%
White16.1%
Black59.2%
Hispanic21.2%
Other3.1%
Education (25+)
18.5%
34.4%
24.4%
22.7%
No HS diploma18.5%
HS diploma34.4%
Some college24.4%
Bachelor's+22.7%
Housing tenure
36.4%
63.6%
Owner36.4%
Renter63.6%

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

2021 vs 2026

How ZIP 23224 in Richmond, VA has changed in 5 years

Rent
$1,140 → $1,556
up 36.5%
Income
$42,929 → $50,475
up 17.6%
Population
38,830 → 40,575
up 4.5%
Renter share
64.1% → 63.6%
-0.5 pts
Bachelor's+
19.4% → 22.7%
+3.3 pts
Median age
34.7 → 33.9
-0.8 yrs

Since 2021, the typical rent in ZIP 23224 in Richmond, VA has increased from $1,140 to $1,556, a 36.5% 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.

Community

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Local insights

Tips for renters in ZIP 23224

About renting in ZIP 23224

Last updated: July 20, 2026

ZIP code 23224 covers Richmond, VA. The median rent here is $1,556/mo as of July 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,540/mo.

At 37% of local median household income ($50,475/yr), ZIP 23224 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 23224?

As of July 20, 2026, the median monthly rent in ZIP 23224 (Richmond, VA) is $1,556. This is based on aggregated data from public sources and community submissions.

How does ZIP 23224 rent compare to the US average?

ZIP 23224's median rent of $1,556/mo is $409 (21%) below the US national median of $1,965/mo.

How does ZIP 23224 compare to other ZIPs in Virginia?

ZIP 23224 is among the more affordable ZIP codes in Virginia, ranking #171 out of 198 ZIPs at $1,556/mo.

How much income do you need to rent in ZIP 23224?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,556/mo in ZIP 23224. The local median household income is $50,475/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 23224?

Rent in ZIP 23224 has increased 5.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 23224 an affordable place to rent?

ZIP 23224 is considered moderate for renters. At $1,556/mo, rent takes approximately 37% of the local median household income ($50,475/yr). The standard benchmark is 30%. ZIP 23224 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 23224 residents rent vs. own?

According to Census data, approximately 63.6% of ZIP 23224 households are renters, while 36.4% are owner-occupied. With a majority renter population, ZIP 23224 has a strong rental market.

How does ZIP 23224 compare to the rest of Richmond?

ZIP 23224 is more affordable than Richmond overall. At $1,556/mo, it's $126 below the Richmond citywide median of $1,682/mo.

When was rent data for ZIP 23224 last updated?

Rent data for ZIP 23224 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
37%
MODERATE

At $1,556/mo, rent takes ~37% of ZIP 23224's median household income ($50,475/yr). The standard benchmark is 30%.

ZIP 23224 37%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 23224 (Richmond, VA)

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