ZIP Code · VA

ZIP 23860

Part of Hopewell, VA

Pop. 31,404·Hopewell City·189th most expensive ZIP in Virginia

Median rent (all units)

$1,200/mo

Year-over-Year

+5.0%

Month-over-Month

Stable

vs US Median

-$732

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 23860 · $1,200

More affordable than 91% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$956

1 BR

$999

2 BR

$1,099

3 BR

$1,392

4 BR+

$1,720

Research median

$1,099/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 23860 is 0.2% below its high of $1,202 in July 2026, at $1,200 as of September 2026.

Past year vs. the rest of Virginia

Rent in ZIP 23860 changed +5.0% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

What a typical income covers

30% of the median household income ($62,141) is $1,554 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,540); a 3-bedroom is $1,950.

From Zillow's monthly rent index (ZORI) for ZIP 23860. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$14,400/yr

At $1,200/mo median

Location

CityHopewell

StateVA

CountyHopewell City

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.0% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 23860 (Hopewell, VA) is majority owner-occupied, has a median income below the national average, 15.1% of residents hold a bachelor's degree or higher.

Population

31,404

Median income

$62,141

Median age

39.2

Renters

36.8%

Age distribution

21.5%

23.8%

27.1%

12.8%

14.8%

Under 1821.5%

18–3423.8%

35–5427.1%

55–6412.8%

65+14.8%

Gender

52.9%

47.1%

Male52.9%

Female47.1%

Race & ethnicity

42.4%

43.8%

White42.4%

Black43.8%

Hispanic8.4%

Asian0.9%

Other4.5%

Education (25+)

12.2%

40.8%

31.9%

15.1%

No HS diploma12.2%

HS diploma40.8%

Some college31.9%

Bachelor's+15.1%

Housing tenure

63.2%

36.8%

Owner63.2%

Renter36.8%

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

2021 vs 2026

How ZIP 23860 in Hopewell, VA has changed in 5 years

Income

$48,989 → $62,141

up 26.8%

Population

32,407 → 31,404

down 3.1%

Renter share

45.7% → 36.8%

-8.9 pts

Bachelor's+

13.2% → 15.1%

+1.9 pts

Median age

38.3 → 39.2

+0.9 yrs

Census figures show median household income at $62,141 today, compared with $48,989 five years earlier. Headcount in the area went from 32,407 to 31,404 between 2021 and 2024, a 3.1% change. About 36.8% of households rent today, against 45.7% in 2021.

Community

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Local insights

Tips for renters in ZIP 23860

About renting in ZIP 23860

Last updated: October 17, 2026

ZIP code 23860 covers Hopewell, VA. The median rent here is $1,200/mo as of October 2026. A 1-bedroom rents for a median of $999/mo. A 2-bedroom rents for a median of $1,099/mo.

At 23% of local median household income ($62,141/yr), ZIP 23860 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 23860?

To keep rent at or below 30% of gross income, you would need to earn at least $48,000/year (about $23/hour full-time) to afford the median rent of $1,200/mo in ZIP 23860. The local median household income is $62,141/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 23860?

Rent in ZIP 23860 has risen 5.0% over the past year as of September 2026. It sits 0.2% below its high of $1,202 in July 2026.

How does ZIP 23860 compare to other ZIPs in Virginia?

ZIP 23860 is one of the more affordable among Virginia ZIP codes for rent, ranking #189 of 194 at $1,200/mo. Over the year to September 2026, rent in ZIP 23860 changed +5.0%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.