Market Snapshot
- Median listing price
- $298K
- Median rent
- $1,400/mo
- Days on market
- 226 days
- Gross rental yield
- 5.64%
- STR vs LTR
- $1,350/mo STR · $1,400/mo LTR
The median listing price in Richmond, VA ZIP 23222 is $297,725 as of June 2026.
The median market rent in Richmond, VA ZIP 23222 is $1,400/month as of June 2026.
The median days on market in Richmond, VA ZIP 23222 is 226 days as of June 2026. The market is currently neutral.
At a median list price of $297,725 and a median rent of $1,400/month, the gross rental yield in Richmond, VA ZIP 23222 is 5.64% as of June 2026.
In Richmond, VA ZIP 23222, median Airbnb revenue is $1,350/month compared to median long-term rent of $1,400/month as of June 2026.
Richmond, VA 23222 Real Estate Market Report
ZIP Code: 23222
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Richmond VA at 6.4% are 0.8% higher than the 5.6% average observed for typical loans in this area during early 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The primary market signal is the median sold price of $286,500, which represents recent transaction activity and suggests realized market value in ZIP 23222; this sits below the median listing price of $297,725, indicating a measurable gap between seller expectations and closed prices that may create negotiation opportunities for buyers. up
- Market velocity appears slow given the median days on market of 226, which suggests extended time-to-contract and pricing friction that may require sellers to be more responsive on price or terms to achieve timely sales.
- Inventory conditions in the analyzed sample point to a relatively constrained active supply versus recent sales activity, which combined with a neutral market temperature suggests balanced negotiating leverage rather than a clear one-sided market. neutral
- Macro and rental context: year-over-year prices are up and rents are up, while interest rate pressure is elevated (current local 30‑year fixed mortgage rate context shows higher borrowing costs), so expect buyer purchasing power to be compressed even as rental demand supports rent growth; this dynamic may favor investors focusing on income-producing opportunities if financing strategies account for higher rates. elevated
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.53% rate, 0.9% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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