ZIP Code · VA

ZIP 23227

Part of Henrico, VA

Pop. 24,925·Henrico County·158th most expensive ZIP in Virginia

Median rent (all units)

$1,585/mo

Year-over-Year

+6.5%

Month-over-Month

+0.6%

vs US Median

-$347

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 23227 · $1,585

More affordable than 67% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 23227 is at its highest level since Zillow's records here began in January 2023.

Past year vs. the rest of Virginia

Rent in ZIP 23227 changed +6.4% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($69,187) is $1,730 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,540); a 3-bedroom is $1,950.

Rank in Henrico

2nd cheapest of 7 ZIP codes in Henrico.

From Zillow's monthly rent index (ZORI) for ZIP 23227. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,020/yr

At $1,585/mo median

Location

CityHenrico

StateVA

CountyHenrico County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.5% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.5% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 23227 (Henrico, VA) is roughly split between renters and owners, has a large retiree population, 47.1% of residents hold a bachelor's degree or higher.

Population

24,925

Median income

$69,187

Median age

45.1

Renters

45.1%

Age distribution

14%

23.5%

25.1%

13.6%

23.8%

Under 1814%

18–3423.5%

35–5425.1%

55–6413.6%

65+23.8%

Gender

46%

54%

Male46%

Female54%

Race & ethnicity

42.1%

45.6%

White42.1%

Black45.6%

Hispanic5%

Asian1.7%

Other5.7%

Education (25+)

21%

25.7%

47.1%

No HS diploma6.2%

HS diploma21%

Some college25.7%

Bachelor's+47.1%

Housing tenure

54.9%

45.1%

Owner54.9%

Renter45.1%

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

2023 vs 2026

How ZIP 23227 in Henrico, VA has changed in 5 years

Rent

$1,325 → $1,585

up 19.6%

Income

$58,083 → $69,187

up 19.1%

Population

26,071 → 24,925

down 4.4%

Renter share

45.5% → 45.1%

-0.4 pts

Bachelor's+

44.9% → 47.1%

+2.2 pts

Median age

42.6 → 45.1

+2.5 yrs

The median rent in ZIP 23227 in Henrico, VA stood at $1,325 in 2023 and currently runs about $1,585, reflecting a 19.6% increase over the period. Local incomes tracked alongside that move, going from a median of $58,083 in 2021 to $69,187 more recently. The population has contracted by 4.4% since 2021, moving from about 26,071 residents to roughly 24,925. College-educated residents now make up 47.1% of adults here, versus 44.9% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 23227 in Henrico, VA market of 2023.

Community

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Local insights

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About renting in ZIP 23227

Last updated: October 17, 2026

ZIP code 23227 covers Henrico, VA. The median rent here is $1,585/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 27% of local median household income ($69,187/yr), ZIP 23227 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23227?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (about $30/hour full-time) to afford the median rent of $1,585/mo in ZIP 23227. The local median household income is $69,187/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 23227?

Rent in ZIP 23227 has risen 6.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2023.

How does ZIP 23227 compare to other ZIPs in Virginia?

ZIP 23227 is one of the more affordable among Virginia ZIP codes for rent, ranking #158 of 194 at $1,585/mo. Over the year to September 2026, rent in ZIP 23227 changed +6.4%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.