Market AnalysisUpdated March 2026

Henrico County, VA — Market Snapshot

Real estate market data for Henrico County, Virginia. Census demographics, rental trends, and economic indicators for investors and developers.

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Population

334,434

ACS 2023

Median Household Income

$98,945

ACS 2023

Renter-Occupied

35%

ACS 2023

Median Rent

$1,500/mo

ACS 2023

Source: U.S. Census Bureau, American Community Survey 2023

Population & Income Profile

Age Distribution

Under 19

24.4%

Ages 20–29

12.2%

Ages 30–39

14.2%

Ages 40–49

13.3%

Ages 50–59

13.2%

Ages 60–69

11.5%

Over 70

11.2%

Household Income Distribution

Under $30K

14.0%

$30K–$50K

14.0%

$50K–$75K

00.0%

$75K–$100K

00.0%

$100K–$150K

00.0%

Above $150K

00.0%

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Source: U.S. Census Bureau, American Community Survey 2023

Housing Affordability

Affordability Label

Affordable (3-4x)

ACS 2023

Price-to-Income Ratio

4.7x

Redfin SFR ÷ FRED Per Capita Income

Very Affordable (<3x)Moderate (3–5x)Expensive (5–7x)Very Expensive (>7x)

4.7x

At 4.7x price-to-income, Henrico County sits in the moderate affordability range.

Affordability label: U.S. Census Bureau ACS 2023. Price-to-income: Redfin median sale price (SFR, Dec 2025) ÷ FRED per capita personal income (Q4 2025).

Housing Market Overview

Median Home Value

$384,000

Median Gross Rent

$1,500/mo

Homeownership Rate

65%

Typical Monthly Housing Cost(owner-occupied w/ mortgage)

$1,580/mo

Median Annual Property Tax(ACS estimate)

$2,693

Vacancy Rate

Dashboard

Source: U.S. Census Bureau, ACS 2023. Monthly Housing Cost: ACS B25105. Property Tax: ACS B25103.

Home Price Index

Henrico County HPI

298.1

FRED Q4 2025

Since 2020

+57.1% ↑

vs. 2020 baseline

“Henrico County home values have appreciated 57.1% since 2020, trailing the Virginia statewide average of 57.5%.”

Source: Federal Reserve Economic Data (FRED) — FHFA House Price Index. Updated Q4 2025.

Investment Analysis

Market Tier

Bawa Score: 75 / 100

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Economic Indicators

Unemployment Rate

3.3%

Per Capita Personal Income

$81,054

Labor Force

178,642

GDP

$30B

Building Permits

1,826

▼ −4.7% since 2020

State Overview

State Tax Revenue (quarterly)millions USD, not seasonally adjusted

$10.5B

State Home Price Index

764.3

State GDP

$762B

Source: Federal Reserve Economic Data (FRED). Updated Q4 2025.

Nearby Markets

Accomack County, VA →Albemarle County, VA →Alleghany County, VA →Amelia County, VA →Amherst County, VA →

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