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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Henrico, VA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Henrico, VA Housing Market Trends

With a population of 180,212, 73,393 total housing units (homes and apartments), and a median house value of $432,238, Henrico real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Henrico, accounting for 63.09% of the town's housing units. Other types of housing that are prevalent in Henrico include large apartment complexes or high rise apartments ( 20.31%), row houses and other attached homes ( 11.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.06%).

The most prevalent building size and type in Henrico are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.70% owning and 37.30% renting.

There is a lot of housing in Henrico built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Henrico built between 1940-1969 ( 29.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.79%). There's also some housing in Henrico built before 1939 ( 2.48%).

Henrico Home Appreciation Rates

Appreciation rates for homes in Henrico have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.23%, which ranks in the top 50% nationwide. This equates to an annual average Henrico house appreciation rate of 6.92%.

NeighborhoodScout's data show that during the latest twelve months, Henrico's appreciation rate, at 7.48%, has been at or slightly above the national average. In the latest quarter, Henrico's appreciation rate has been 2.48%, which annualizes to a rate of 10.31%.

Relative to Virginia, our data show that Henrico's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Henrico differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Henrico - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Henrico real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$432,238

Henrico, VA Home Prices
> $1,412,000
$1,059,001 - $1,412,000
$706,001 - $1,059,000
$565,001 - $706,000
$424,001 - $565,000
$283,001 - $424,000
$141,001 - $283,000
$71,001 - $141,000
$0 - $71,000
2.5%
2.5%
4.8%
4.8%
12.0%
12.0%
10.3%
10.3%
21.7%
21.7%
31.6%
31.6%
14.7%
14.7%
1.0%
1.0%
1.4%
1.4%
0% 100.0%
% of Homes
High

for Virginia

High

for nation

Number of Homes And Apartments:

73,393

Henrico Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,657 / per month

Homeownership Rate

Owners
Renters
62.7%
62.7%
37.3%
37.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.1%
5.1%
94.9%
94.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.8%
16.8%
51.5%
51.5%
29.2%
29.2%
2.5%
2.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.1%
63.1%
11.3%
11.3%
5.1%
5.1%
20.3%
20.3%
0.3%
0.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
9.0%
9.0%
23.8%
23.8%
34.6%
34.6%
23.9%
23.9%
7.1%
7.1%
0% 100.0%
% of Homes