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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
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%).
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.
$432,238
for Virginia
for nation
73,393
$2,657 / per month